The average office worker in the States uses 10,000 sheets of copy paper per year – the equivalent of a 100-foot Douglas fir tree. That’s a small forest of magnificent Douglas Firs across a 40 year career of spreadsheets and reports. And there’s nothing to suggest we are scrunching up trees into wastepaper bins with any less disregard to the environment here in the UK.
We’re all guilty, but here at Castlight we’re trying our best to use technology to share information with each other and with our clients. Of course there are still paper reports hitting our desks but we do feel particularly proud of the green credentials of our Affordability Passport, which is indisputably green to its very core.
As you will know, if you’ve been reading these blogs, Castlight’s Affordability Passport is a web-based technology which allows customers to securely share their transactional data in real time with a lender, providing an unequivocal and comprehensive picture of income and expenditure. That means lenders have no need to demand a paper trail from a borrower to assess their ability to afford a loan – all the information they could possibly need is there on a screen in real time.
That means no paper copies required of:
- photo ID
- utility or council tax bills
- 3 months of payslips
- P60 documents
- 3 months of bank statements
- details of credit commitments
- details of other mortgages
- details of repayment plans
- property details
- solicitors details
- estate agents details
By my rough calculations, that’s a shopping list of affordability proof that could very easily add up to 100 sheets of paper! So, for every customer a lender assesses for a mortgage using Castlight’s Affordability Passport, you could perhaps claim to be saving a Douglas Fir sapling!