For years, the narrative in banking has been "Digital vs. Branch." The implication was that you had to choose one or the other. But customer behavior tells a different story. According to recent studies, while 80% of borrowers start their loan search online, nearly 50% still visit a branch at some point to ask questions or finalize the deal.
The modern borrower isn't digital-only or branch-only; they are hybrid. They want the convenience of applying on their phone at 9 PM, but the reassurance of speaking to a human when they get stuck. This is the era of Omnichannel Lending.
True omnichannel isn't just about having a website and a branch; it's about connecting them so they operate as one. Here is how leading banks are unifying their physical and digital worlds.
1. The "Start Here, Finish There" Journey
The hallmark of a broken system is the "restart." A customer fills out an application online, gets confused, walks into a branch, and the loan officer says, "I can't see what you did online. Let's start over." This is a friction point that kills loyalty.
An omnichannel Loan Origination System (LOS) shares a single database. If a customer uploads a pay stub via the mobile app, the branch officer sees it instantly. The customer can start an application on their iPad, pause, call the contact center for help, and finish the signing process in the branch—without ever repeating information.
2. The Branch as an Advisory Center
As routine transactions move to digital, the role of the branch is shifting from "transactional" to "advisory." Borrowers don't come in to fill out forms; they come in for high-value advice on complex products like mortgages or SME loans.
Technology enables this shift. By automating the data entry and compliance checks beforehand (via the digital channel), the branch officer can spend the meeting discussing loan options, structuring the deal, and building a relationship, rather than typing data into a screen.
3. "Assisted Digital" in the Branch
Some customers want to use digital tools but lack the confidence to do it alone. This is where "Assisted Digital" comes in. Instead of turning a monitor away from the customer, modern branches use tablets.
The loan officer sits next to the customer, not across from them, and they co-navigate the application on a tablet. This teaches the customer how to use the digital portal for future needs while providing the comfort of human guidance. It bridges the gap between the physical and digital experience.
4. Unified Data, One Source of Truth
Omnichannel fails without data integration. If your online system and your branch system don't talk to your core banking system in real-time, you will have data conflicts.
A robust lending platform acts as the central brain. It pushes and pulls data via API to all endpoints. This ensures that if a customer updates their address in the mobile app, the branch officer sees the new address immediately. It prevents the embarrassment of sending a loan offer to an old address or asking for a document that was already submitted.
5. Consistent Branding and UX
Your digital portal shouldn't look like a different company than your branch. "Phygital" banking (physical + digital) requires consistent branding, tone, and user experience (UX) across all touchpoints.
The terminology used in your app ("APR," "Term," "Collateral") should match the language your bankers use. The visual design of the digital contract should match the printed version. This consistency builds trust and reduces cognitive load for the borrower as they switch between channels.
Conclusion: It's About Choice and Continuity
Omnichannel lending is about giving your customers choice without consequence. It acknowledges that life is messy and nonlinear. By building a technology infrastructure that supports seamless channel switching, you respect your customer's time and preferences.
Don't force your borrowers to choose a lane. Explore how Lendisys unifies your lending operations into a single, cohesive ecosystem.