New Tech Investment by Santander UK for a Bigger Market Share

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Santander UK customers will be able to ask for a mortgage via video connection, in the freshest model of lenders investing in technology to increase their market share.

The bank branches will be outfitted with the technology needed for the staff to “expand their reach”, the bank told Sky News.

The bank has some 350 mortgage consultants in 63 of its 1,400 branches in the UK.

The bank is planning out to improve the service further later this 2017 by allowing customers to talk with consultants by video link from the comfort of their own home.

But until that point, prospective clients hoping to talk directly to a consultant about their mortgage will still have to walk into a branch where one is located, or via the newly invested video technology.

The promising investment supports the pilot project last 2016.

A spokesman stated there were no prevailing plans to “reduce” the number of mortgage consultants of the bank as of now, for the reason that the move is about”expanding their reach,” he said.

“If in the future it means they (customers) want to sit at home and video call a mortgage adviser then that is their choice.”

“That is ultimately the direction we are heading in if people want to do that from home.”

Santander UK’s hopeful video initiative comes amid branch closures across the country’s major banks while clients are moving into online banking.

In the latest set of financial results given by the bank for its first quarter 2017 report, it vividly showed net mortgage lending fell by
£400m after it eliminated some of its most competitive rates at the end of 2016.

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