UOB Indonesia and UrbanAce accelerate the property buying process through new digital referral service

Jakarta, 11 March 2019 – PT Bank UOB Indonesia (UOB Indonesia) today announced it was collaborating with UrbanAce to speed up the property buying process, reducing the loan referral process from five days to just minutes.

Using UrbanAce’s mobile app, property agents across Indonesia will be able to submit property loan referrals to UOB directly and to book an appointment to meet a UOB banker to discuss financing options.

Typically a loan referral process can take up to five calendar days as property agents often have to make a number of calls to schedule face-to-face meetings with the prospective property buyer and the bank. Using the UrbanAce app, the process only takes less than five minutes. Currently more than 1,000 property agents are registered users of UrbanAce’s mobile app.

Khoo Chock Seang, Head of Personal Financial Services and Digital Bank, UOB Indonesia, said, “This collaboration is part of UOB Indonesia’s commitment to harness technology to improve the customer experience. The UrbanAce mobile app makes the property buying journey simpler, smarter and swifter for customers and agents alike. It simplifies, digitalises and accelerates interactions between the property agent, the buyer and the bank.”

In 2018, 26 per cent of UOB Indonesia’s total mortgage business was the result of referrals from property agents. The new referral process has been designed with Indonesia’s digital generation in mind, who currently make up 42 per cent of the Bank’s total customers. The Bank expects the service will also help to generate more business leads in a shorter time.

The founder and CEO of UrbanAce, Ronny Wuisan said, “UrbanAce’s mobile application marks a breakthrough in the real estate industry’s digital transformation as it provides a more effective connection and communication between registered property agents at UrbanAce, UOB Indonesia’s bankers and prospective property buyers.

“Our mobile application enables property agents to manage their business through a single platform. Detailed online information regarding transactions is stored in the application, which property agents can use to monitor and to manage their customers’ property buying progress more effectively,” Wuisan said.

Accelerating the property buying process through UrbanAce
The UrbanAce app is easy to use and is a valuable tool to help property agents manage the property loan application process more efficiently.

How it works:

1. 1. A registered UrbanAce property agent assists the prospective property buyer to enter their data such as name, type of property, address or location, size, price and other relevant information into the UrbanAce mobile app.
2. The application is then submitted to UOB, where a UOB Indonesia banker will accept the referral and agree to a meeting with the potential property buyer.
3. The banker will also process the application and prepare the right financing proposal for the customer’s need.
4. UOB Indonesia’s banker, property agent and prospective buyer will then meet and discuss the financing proposal. If the property buyer agrees, the financing proposal will be finalised and property buyer can proceed to purchase their desired property.

UrbanAce’s application covers various types of properties ranging from individual to commercial properties such as office, warehouse and factory buildings.

UrbanAce’s application was launched in 2016 and is available for free in Google Play and Apple App Store.