Beyond Bank partners with NextGen to transform loan process

ApplyOnline to benefit brokers, customers

Beyond Bank partners with NextGen to transform loan process


By Jayden Fennell

Beyond Bank Australia has partnered with lending technology provider NextGen to future-proof the bank's digital transformation strategy.

As one of Australia’s largest customer-owned banks, Beyond Bank will take on NextGen’s ApplyOnline®  mortgage and lending workflow processing platform by establishing a streamlined, harmonised end-to-end mortgage and personal finance origination and assessment process for both first and third-party channels.

“Our top priority has been and will always be the financial wellbeing of our customers, so we need to invest in systems and processes that help us ensure the customer journey is as efficient, smooth, and easy as possible,” said Beyond Bank general manager customer experience Nick May (pictured above left).

“Lending is central to what we do, so investment in a modern, innovative and integrated loan origination system is an essential part of our current transformation program.”

May said NextGen’s proven integration capabilities provide tangible benefits to the customer experience.

“Its progressive roadmap provides confidence that innovation is constant in the NextGen solution,” he said.

NextGen’s head of lender partnerships Mike Ponsonby (pictured above right) said it had a strong long-standing relationship with Beyond Bank having been a broker lodgement partner of theirs for over a decade.

“We are delighted to now create an elevated end-to-end solution for Beyond Bank in all channels,” Ponsonby said.

Ponsonby said the partnership would deliver a whole new experience for brokers and Beyond Bank customers would see brokers empowered to have better conversations with their customers from the start, thanks to access to more accurate and reliable data.

“The implementation of a harmonised, end-to-end solution that maximises automation across all channels is expected to further support Beyond Bank to meet customer expectations on enhanced accuracy and faster turnaround times,” he said.

May said the ability to use a single system across both first and third-party channels was really appealing.

“It will allow us to align our service levels across channels and significantly reduce some of the double-handling that exists today,” May said.

“Both customers and brokers will see the adoption of new technology that will automate some manual tasks and digitise parts of the lending process that today are only achieved through physical interactions.”

Ponsonby said the roll-out with ApplyOnline® would deliver consistency, reliability and efficiency in one digital experience.

“Integrating tools such as ‘eSign’, ‘NextGenID’ and the ‘Access Seeker’ credit report service streamlines the lending process for all users, providing a faster ‘time to yes’ he said.

May said the expanded partnership would now see NextGen play an important strategic role for Beyond Bank moving forward.

“With a strong existing relationship, we look forward to working closely on the rollout of the NextGen system across all our lending channels.”

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