Bank Millennium S A : Digital mortgage. Bank Millennium enables submitting insurance policies online

In the next stage of digitalisation of mortgages Bank Millennium has launched the possibility of sending external insurance policies in the mobile app and the Millenet Internet system. The Bank is gradually releasing it to further groups of customers.

The service is targeted at borrowers who have a mortgage loan in Bank Millennium and who took out insurance from another institution. Apart from the possibility of enclosing a scan of the policy it also allows sending a confirmation of payment of insurance contribution, and if it is paid from an account with Bank Millennium, identifying the payment in the account history directly. In the mobile app you can select the document image directly from the gallery in the phone, and soon it will be possible to make a photo of the document directly in the app.

- Designing further solutions for mortgages we keep looking at the process through the eyes of customers for whom taking a mortgage loan is one of the more difficult moments in life. Everything should proceed smoothly and transparently, this is why we provide customer support in all stages. When they apply for the loan and also later when they can manage it conveniently in a phone or computer. We want customers not to have to come to the bank with each and every document, but to be able to take care of it remotely. At the same time it is our priority to assure the best possible experience with using the bank's services, in each of the access channels, this is why we put so much emphasis on the omnichannel aspect - Halina Karpińska, Director of the Electronic Banking Department in Bank Millennium, said.

The Bank has created a special section in electronic banking, in which customers can check the status of terms regarding insurance, their as well as of other borrowers. The section contains such details as policy number, validity date, status of the document sent (required to be sent, pending verification, accepted, rejected, past-due).

The Bank will also remind the customer of the need to send the document by a specific date, that the date has passed, it will inform about acceptance or rejection of the document, specifying the reason it was rejected, also if the document was delivered otherwise e.g. in a branch. It will text the information, send it in a PUSH message in the app and on the home page, after logging-on to the app and Millenet.

- The possibility of sending the insurance policy to the bank without the need to visit a branch, is another step in the efforts to digitalise mortgages. A mortgage loan is usually with us for many years. Thus digitalisation applies not only to the very moment of incurring the loan but also its future service. We want this servicing to be as easy as possible for a customer. Our plans naturally involve launching further online options - Ania Meunier, Head of Mortgage Loans Sub-unit in Bank Millennium, said.

In digital mortgage Bank Millennium also enables:

• signing a mortgage loan application with an SMS code;
• convenient tracking of the status of the application in the mobile app (also to persons who are not customers of the bank) and in the Millenet Internet service. Additionally persons who submitted the application, will receive information whenever its status has changed;
• use of e-appraisal i.e. client support in getting property valuation.

After the mortgage loan agreement has been concluded, customers can do the following in the Millenet online system:

• change instalment payment date,
• apply for loan holidays
• make earlier loan repayment,
• shorten the grace period,
• download a certificate of interest,

Bank Millennium experts have also prepared material which is a collection of important and practical information you should read before applying for a mortgage loan. Those interested in the mortgage loan will find there some very user-friendly information on, among others, types of loan instalments and importance of the credit period as well as risk related to mortgage loans. For the material and more information on the bank's offer visit: www.bankmillennium.pl/en/individuals/mortgage-loans/mortgage-loan.