NZ bank offers loans-by-phone

Trust Bank has set up a trial seven-days-a-week telephone approval system for home loans.

Trust Bank has set up a trial seven-days-a-week telephone approval system for home loans.

General manager David McLister says the trial is in line with Trust Bank's commitment to using technology to provide service which makes customers' lives easier.

The system is based around an Oracle database.

Callers to the telesales centre, at Royal Oak in Auckland, will be asked for details about their income and expenditure and the loan they require. If all the criteria are met, they will receive conditional approval for a home loan.

A personalised pack will be sent by courier, along with a check-list of the documentation they need to show before the loan is unconditionally approved.

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