Banca Comerciala Romana (BCR), in collaboration with Qualitance, has launched the first digital solution for mortgages that digitalizes and simplifies the process of buying a home, named Casa Mea (My House). All the required documents can be uploaded online by the client, directly in the application, from their phone or computer, which cuts the duration of the entire process by at least 50 percent.
“The Casa Mea application is the most courageous and innovative banking project of the moment for clients who apply for a real estate loan. The idea started from our discussions with them, understanding their real needs – transparency, predictability and convenience in the relationship with the bank, when deciding to buy a home. Through Casa Mea, every BCR client has a true control system for the entire credit process, offering permanent online support and transparency. The application is unique in Romania and can be accessed very easily, in a secure environment, both on a phone and on a tablet or computer. This is another important step that BCR is initiating on the Romanian banking market, a step that is part of the Open Banking strategy and aims to develop partnerships for the benefit of our customers,” said Dana Dima, Vice President of Retail & Private Banking BCR.
“In modern civilization, purchasing a home is the most important financial decision that 80 percent of people will take in their lifetime. At the same time, taking on a mortgage is among the top most stressful life experiences. Together with BCR, we have decided to challenge what everyone accepts as a given and take on this brave attempt. And together, we have achieved the impossible. The company has made a breakthrough in the digital age, and companies such as Apple, Amazon, Google or Uber have re-set expectations for how we interact with products and services. People expect the same level of simple and intuitive experience from banks. There is a prejudice that only fintechs can live up to these expectations. The digital platform Casa Mea demonstrates the opposite – together with BCR, we managed in a record time – we had the first version in 10 weeks from the start of the development – to transform the stressful experience of obtaining a mortgage into an unexpectedly pleasant experience. It is a premiere in Romania that BCR has made possible thanks to an innovative mindset and a visionary team,” said Ioan Iacob, CEO and co-founder of QUALITANCE.
With the help of the digital platform Casa Mea, the purchase of a home is done quickly and transparently:
- Upload all the documents requested by the bank from the preliminary analysis stage easily and comfortably in the application
- You no longer need to go to the bank for each document or stage separately. The application supports documents such as: pre-contract, deeds of ownership, notarial opinion, relief, extract of the land book and any other documents the bank requests.
- Find out from the beginning what documents you need at each stage, how they should look and where you can get them. You are constantly aware of your case status and know how long it takes until the money is transferred to the seller.
- You collaborate directly in the application with the other parties involved in the acquisition process, namely the seller, notary or real estate agent. They can upload the documents requested by the bank, and the application sends notifications to the client and the bank at every step.
- You receive notifications as the status of your case or document changes, respectively whenever a new action is required from you.
- You save at least 50 percent of the time required for the entire process and you don’t have to go to the bank.
The app is available in the App Store and Google Play and has already been used by over 1,300 BCR customers. More than 600 people have already used it to the end of the entire process, making it easier for them to purchase a home. The app can be accessed easily and safely, using the username and password of the smart banking platform – George.