Digital home lender Nano has launched its Nano Lending Solutions business to empower lenders across Australia, and around the globe, in a major B2B expansion drive.
Key to Nano’s strategic direction was to address the increasing demand from other lenders to match the speedy, paperless application, and digital decisioning to improve their own offering and customer experience.
“The technology platform we have built is scalable, cost-effective, and radically improves a lender’s ‘time to yes,’ and with this, the customer experience,” said Andrew Walker, co-founder and chief executive of Nano. “The new battleground in lending is ‘time to yes,’ and Nano Lending Solutions is the global benchmark. Rapid, seamless, and near instantaneous decisioning is moving from being a differentiator, to a baseline capability. Approvals in minutes, not days or even weeks, will quickly become the expectation of both customers and brokers.”
The Nano Lending Solutions platform is more than just a digital application. Its proprietary algorithms drive digital approval, “meaning we can unconditionally approve loans without any manual intervention, creating the world's fastest time to ‘yes,’” Walker said.
Nano’s B2B operation, Nano Lending Solutions, licences its lending origination platform to other banks and large non-banks, enabling them to provide their customers with faster loan approvals, and better customer experience.
“Our technology is available to lenders who want to accelerate their digital innovation and not be left behind, as the market shifts to a new service standard,” Walker said.
Nano’s technology platform automates the whole loan application and decision-making process, streamlining the property finance market with the aim of eliminating all the stress and anxiety borrowers generally experience while waiting for a loan approval.
Earlier this month, Nano forged a major platform relationship with AMP Bank, enabling the bank to begin offering digital mortgages to customers in the third quarter of 2022. Nano is also now working with another Australian bank to deliver new customer and broker experiences that leverage its advanced technology by the end of this calendar year. Details of this partnership will be announced closer to launch date.
With global expansion now firmly on the horizon in Nano’s B2B growth plans, the lender aims to drive the fastest ‘time to yes’ across the world.
“Our technology platform will speed up loan approvals for the whole financial system and create the next generation of market leaders, leaving those who only compete with low rates, vulnerable during this inflationary market,” Walker said.