Bank partners with brokers to 'revolutionise' commercial lending

by Julia Corderoy30 Aug 2016
Macquarie Bank has collaborated with four top tier commercial broking firms to launch a cloud-based origination platform, Kubio, to streamline and digitise business lending.  

Kubio’s platform provides solutions for brokers to drive back office efficiencies, from the ability to monitor and track deal flow to comprehensive reporting. 

The platform will give brokers the ability to view reports in real-time, with access to pipeline, loan portfolio, asset classes and lender distribution. It will also streamline originations with online verification, credit checks, digital signatures and authorisation. Everything Kubio can do can also be managed by a mobile device.

Macquarie Business Banking’s head of commercial origination, Brian Steele said the platform received design input from the co-founding brokers, Allfin Financial Services, BKK Finance, Heritage Property Finance and Stamford Capital, to ensure the technology was built by brokers for brokers.

“The launch of Kubio is in response to feedback we received from brokers, who consistently told us that the industry was lacking a commercial lending platform that provided scalable business efficiencies. They were looking for ways to improve their governance processes, while spending less time on administration and more time focusing on their clients and growing their businesses,” he said.

Speaking to Australian Broker, Steele said Kubio is “first-to-market” technology which will revolutionise the commercial lending sector and bring it more in line with the advancements already seen within the residential sector.

“The origination workflows for commercial lending requires a different data model to residential lending.  For example, commercial deals may require multiple securities, lenders and client entities on a single loan application,” he said. 

“The cost of converting existing residential systems to cater for commercial loans has been the main inhibitor. New developments in the fintech space have made it easier and more cost effective to build from scratch, which is what we have done with the launch of Kubio.”

Steele revealed Kubio will also act as a lead generator for commercial brokers, with the platform to be directly marketing to consumers.

“In addition to networking through existing clients, promotion of Kubio will be via search engine optimisation and social media,” he told Australian Broker.

Kubio is available to all brokers interested in building relevant solutions in commercial lending and is available to brokers irrespective of whether loans are placed with Macquarie.

“Kubio gives commercial brokers around Australia a wealth of data and insights at their fingertips, providing the opportunity to leverage the combined knowledge, experience and relationships of likeminded finance intermediaries,” Stamford Capital director, Domenic Lo Surdo said.

“The diverse nationwide network matches clients with the most suitable commercial broker in their local area based on their finance requirements and we’re looking forward to sharing these capabilities with more of our peers around Australia.”