Mortgage franchise adopts rapid loan technology

The fintech platform will boost application to settlement rates for brokers working across the franchise’s national network

Mortgage franchise adopts rapid loan technology



Mortgage broking franchise MoneyQuest has formally announced a partnership with a leading fintech firm to boost loan processing times for its brokers.

The agreement will see the franchise network gain access to Proviso’s BankStatements – a platform that allows clients to quickly send bank transaction data digitally.

“MoneyQuest is very proud of its reputation for providing a superior customer experience and our new partnership with Proviso utilising their product BankStatements is sure to take this customer experience to even greater heights,” said MoneyQuest managing director, Michael Russell.

“One of the biggest frustrations for both our customers and franchise owners is having to wait days for our customers to be able to retrieve their bank statements and then send them through via scan and email. It’s time consuming and doesn’t provide the greatest customer experience at a time where very often there may be other stresses associated with the loan and/or its purpose.”

The software is easy to use, involving a web link that is emailed directly to the client either during or after meeting with the broker. Through this, clients can access their bank statements, tick those which are relevant and hit send, Russell told Australian Broker.

“Almost instantaneously their bank statements are emailed to their mortgage broker – completely hassle free.”

Special training will be provided to all MoneyQuest brokers around using the system, he added.

“Each broker needs to attend a training session facilitated by BankStatements which we have locked in over the coming weeks.”

The software has already been trialled in a pilot group of franchise owners with extremely positive results, Russell said.

“The feedback from the very first deployment of the technology has been consistent from franchise to franchise. Customer usage has been very close to 100% and the feedback one of gratitude for the convenience provided.”

Luke Howes, CEO of Proviso, said he was delighted to partner with the broking franchise.

“From very early in our discussions it was clear that MoneyQuest was an organisation relentless in pursuing technology solutions that would enhance their customer experience. Our shared focus has allowed our two businesses to arrive at today’s announcement and we have no doubt that the MoneyQuest franchise owners will very soon enjoy a significant increase in their application to settlement conversion rates.”

The technology delivers increased conversion rates, he added, by keeping applicants in the process and eliminating frustrations that typically lie around getting documentation to the mortgage broker.

“We also find that mortgage brokers using our technology will secure much faster loan approvals and provide more word of mouth referrals,” Howes said.

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