September 16, 2021
Markets

Laurentian Bank reports Q3 profit up from year ago

“We need to simplify our platforms. Our technology platforms are complex.”

Retail customers currently see different layouts depending on where their account is hosted, Llewellyn said as an example. The bank’s mortgage application and digital sign-up for new customers are also overly complex, she added.

As part of the updated mortgage operations, the bank has created a dedicated unit in personal banking for residential lending, started to integrate digital signatures through DocuSign, and automated valuations for properties. However, given the complexity of the business, a full transformation will take time, Llewellyn said.

“It’s going to take 18 to 24 months for us to really start seeing the impact of our efforts.”

The bank is also working on filling in some key gaps in its technology offerings, including adding a banking app and a tap function on debit…

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