New tech will streamline loan applications: TMB

by Miklos Bolza15 Dec 2016
Teachers Mutual Bank (TMB) has announced the rollout of shared technology services which it says will reduce service times for home loan approvals.
 
“Delivering this capability will have benefit from end to end. It will allow seamless integration of our core systems with upstream systems such as broker portals, decision engines and business process management platforms to enable straight through loans processing,” David Chapman, TMB’s CIO, told Australian Broker.
 
The new platform will significantly reduce the load on back office staff and allow the bank to handle a greater loan volume, he said. It will also enhance the bank’s digital space by providing added online application capabilities.
 
Chapman said TMB had already utilised platforms which were used by the vast majority of brokers around Australia. This permitted turnaround times for approvals back to brokers which significantly outperformed the industry average.
 
“Backend integration of these platforms to our core, facilitated by the Dell Boomi based integration services we have in place, will allow us to improve that even further.”
 
TMB has completed the infrastructure design and build and has commenced integration work.
 
“We plan to roll out as much of this capability as we can in the 2017 calendar year,” Chapman added.
 
In terms of shared services, Chapman said TMB will be collaborating with mutual partners to reduce operating costs and deliver the best possible experience to members.
 
“We will be looking to accelerate the programs of work and capability build, plus further reduce costs over the same period.”
 
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