Case Study: First Mortgage Services

Case Study, e-Signature
Digital Transformation

First Mortgage Services (FMS) provides Mortgage Business Process Outsourcing (BPO) services in Australia and New Zealand, and is a subsidiary of First American operating in the United States and North America. FMS provides a range of services related to Mortgage and property settlement for a wide range of financial institutions, with many of the top lenders and brokers in Australia as customers. 

Key Points: 

  • Nuvola’s NuSign Suite has provided a vital and highly integrated component within the FMS market leading solution for over 5 years
  • FMS e-Signature is used by many top Mortgage lenders and brokers
  • FMS e-Signature has been selected by several neo-banks (digital only / mobile first) where brand, customer experience and straight through processing integration are critical factors.
  • On-premises managed platform, within an Australian Prudential Regulatory Authority (APRA) compliant environment

FMS selected the NuSign Suite in 2018 as an integrated capability within their service offerings. Delivered on-Premises within the FMS APRA certified platform, Nuvola provides NuSign as a service with full management of the application within FMS hosting and data centre facilities, enabling strong integrations with their business applications and processes. This allows for sophisticated straight through processing and integration with the FMS business applications and their customers. 

The first client to onboard onto the FMS e-Signature service was a digital only neobank entrant, marketed to digital natives with Mobile App banking only, having no branches and a very strong preference to avoid paper processes. For this client the Customer Experience (CX), brand and design elements were critical non-negotiables. NuSign’s NuBrand flexible Customer Portal and e-Signature Signing Ceremony design templates enabled rapid and low-cost tailoring to match their enterprise CX and customer journey. 

FMS added another neobank shortly after – A NeoBank that was incubated within one of Australia’s largest traditional banks and designed to compete in the non-traditional banking space alongside other NeoBanks coming online. The parent organisation uses DocuSign in some parts of their business however after extensive assessment selected FMS with NuSign Suite given our unique capabilities and market offering.

The NeoBank’s are not alone, with other lending organisations and major banking brands selecting FMS as their mortgage platform and e-Signature provider (NuSign). 

FMS represents a highly successful relationship in which FMS has been able to not only achieve strong growth in new customer acquisition and help existing customers digitally transform their Mortgage fulfilment. FMS have also created opportunities to extend into related business processes, such as mortgage applications, using NuSign Suite, creating new avenues to expand their client relationships, build new revenue and achieve higher volumes leading to improved cost effectiveness – and ultimately increased profitability. 

Since 2018 the partnership with FMS has resulted in tight integration with FMS mortgage platform with straight-through processing, resulting in a ten-fold increase in e-Signature uptake and transaction processing. 

Currently FMS have onboarded 21 brands from lenders and banking organisations across Australia and New Zealand and they continue to see major growth year on year.

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