Expert Guide: Convincing Borrowers to Use Secure Document Upload Portals
- Stefan Celeski
- Mar 13
- 5 min read
Updated: Mar 14
To convince borrowers to use secure document upload portals, commercial brokers should educate them on the benefits, emphasizing security, efficiency, and ease of use. Borrowers often resist due to their familiarity with email, perceived complexity, or lack of awareness. To overcome this, brokers should highlight how document collection software streamlines the loan approval process, reduces back-and-forth communication, and ensures compliance with data security and privacy regulations. |
For commercial brokers, document collection software is crucial for maintaining a smooth and secure loan process. Secure document upload portals, a key component of this software, provide a faster, safer, and more organized alternative to manual collection methods. However, getting borrowers to adopt them can be challenging. Many borrowers still prefer sending documents via email, unaware of the inefficiencies and security risks involved.Â
This expert guide explains the consequences of inefficient document collection, why borrowers are reluctant adopters, and proven strategies to help you promote the use of third-party document collection software and secure document portals among borrowers.
Why borrowers resist secure document upload portals
You know the frustration all too well: You request documents from a borrower, and days later, you're still sorting through scattered email attachments with missing files, inconsistent naming conventions, and incomplete information.
While a secure document upload portal overcomes these issues, many commercial brokers struggle to persuade borrowers to use them. Before you can effectively change borrower behavior, it's important to understand the reasons why they resist using portals in the first place:
Comfort with email:Â Borrowers are accustomed to sending financial documents via email and may not see a reason to change their tools or habits.
Perceived complexity:Â Some borrowers, especially those unfamiliar with digital tools, may find online secure document portals complicated or intimidating.
Lack of awareness:Â Borrowers may not understand the security risks of email and the efficiency benefits of a secure document upload portal.
"We've always done it this way:"Â Change resistance is powerful, especially with established clients who have set processes.
The risks of inefficient document collection
When borrowers resist using secure document portals, both brokers and borrowers face serious challenges.
1. Delayed loan approvals
Manually collecting and organizing documents slows down the loan approval process. Missing or incomplete files lead to repeated follow-ups, prolonging credit analysis and underwriting decisions and potentially jeopardizing deals.
2. Security risks
Email attachments and unsecured file-sharing methods put sensitive borrower information at risk. A single phishing email or malware attack could expose confidential data, putting your reputation at risk and potentially incurring financial losses.
For example, a borrower accidentally forwarding their bank statements to the wrong recipient, could lead to a data breach. Now concerned about privacy, they may withdraw from the deal or damage your reputation.
3. Poor borrower experience
Borrowers are frustrated by confusing, unstructured document collection processes. If submitting the required paperwork becomes too difficult, they may abandon the loan application altogether.
4. Compliance issues
Insecure document handling can lead to non-compliance with regulatory requirements, resulting in legal and reputational risks.
How to encourage borrowers to use secure document portals
Getting borrowers to embrace secure document upload portals requires a proactive and informed approach. Here are four key strategies to encourage adoption:
1. Educate borrowers on the benefits
Many borrowers don’t realize how much document collection software makes the loan process easier and how it protects them. Communicating these benefits helps them get onboard:
Fewer emails and follow-ups (less time on the borrower’s part and faster approval).
A centralized location between you and the client for all required files (everyone has the same picture).
Greater security and privacy protections.
Showing borrowers a side-by-side comparison of email-based document collection versus using a secure document upload portal makes these benefits explicitly clear.
2. Emphasize security and compliance
Many borrowers aren’t aware that email is one of the least secure ways to send financial documents. Explain how a secure document upload portal protects their business with:
End-to-end encryption to reduce the risk of unauthorized access.
Controls to ensure that only approved parties view their documents.
Compliance with industry standards to meet their secure supply chain requirements, if applicable.
Depending on the client, you may need to explain this value in plain language. Rather than saying, "Our secure portal has 256-bit encryption," it’s clearer to say, "Our secure document upload portal protects your sensitive financial information with bank-level security. Unlike email, which can be hacked or intercepted, your data is protected from potential breaches that could compromise your business."
3. Make the process simple and user-friendly
If borrowers believe document collection software is difficult to use, they will resist. Ensure the platform you select has the following characteristics:
Provides clear, step-by-step instructions.
Is accessible through a web browser and has a mobile-friendly interface for easy uploads from smart devices.
Offers real-time notifications when documents are submitted successfully or require additional information.
A short walkthrough video or live demo illustrating how to use the secure document upload portal assists borrowers in adopting the system. Depending on the platform, this presentation can show how quick registration is, demonstrate the document uploading process, and show how the notification system works.
4. Offer personalized support
Borrowers may have questions or need assistance with the new system. Providing quick and accessible support, by someone who knows their file and business, helps build trust and increases adoption rates.
Improving adoption rates for secure document upload portals
Beyond individual borrower conversations and demos, you can increase adoption rates by tailoring the document collection process to their needs. Consider these steps:
Collaborate with technology providers: Work closely with document collection software vendors to ensure an intuitive, borrower-friendly experience. While you know your business, they know their software – by working together, you can better align features and workflows to your clients.
Communicate benefits and wins: While users are more open to change at the start of the process, they may need more tangible evidence of the technology’s advantages before fully endorsing its use. Make sure all stakeholders receive regular updates that showcase real examples of positive effects and address any initial doubts or concerns about using the portal.
Gather feedback:Â Ask borrowers about their experiences with the secure document portal and adjust the onboarding process as needed.
Get borrowers onboard with secure document collection now
Successfully transitioning borrowers from email to document collection software isn't just about having the right technology, it's about effectively communicating value, removing adoption barriers, and guiding clients through change.
Implementing the strategies in this guide will improve your operational efficiency and provide a superior experience. This will position you as a forward-thinking, client-focused broker in an increasingly competitive market. Every borrower you convert to your secure document portal represents new time savings, reduced risk, and improved service for years to come.