Bank of Africa launches first online mortgage loan service in Morocco

MOROCCO –Bank of Africa, one of the largest commercial banks in Morocco, has launched an online mortgage loan service in the Maghreb country as part of its strategy to digitize its banking products.

The mortgage loan service christened, “Credithabitat.ma” is the bank’s first online mortgage loan service.

The service according to Bank of Africa Morocco, seeks to allow clients to check their mortgage application and receive commercial offers without having to travel to the bank.

Additionally, the new platform will help clients download supporting documents and monitor the progress of their credit file.

The Bank also notes that Credithabitat.ma digital service, was created in response to the need “to meet the requirements of an increasingly digitized clientele.”

The service offers customers “several advantages, in particular a simple and fluid customer experience, an instant agreement in principle, and the possibility of attaching supporting documents online, without having to travel,” the Bank said.

Bank of Africa pledged “transparency” in terms of information communicated throughout the process, as well as remote support in all phases.

It further revealed that it has assembled a team of specialized call centre advisers who will be available seven days a week from 8 a.m. to 8 p.m. to offer assistance to customers.

The new service will be of added value to the bank as it aims to attract clients who are members of the Moroccan diaspora.

The new service according to the Bank will allow “private, professional and Moroccan clients living abroad to subscribe to their mortgage remotely.”

The Bank further noted that the service will allow Moroccans in the diaspora “to benefit from a preferential offer exclusive to the channel, in particular through the free application fees and expert fees.”

The decision to launch a new platform of online services comes amid calls by Morocco’s government to banking institutions and administration to take into account digitalization reforms amid the COVID-19 crisis.

The reforms are particularly critical at time when handling of cash and physical interactions with people is highly discouraged due to their ability to easily spread the virus from one person to another.

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