New loan origination platform promises greater efficiencies for brokers

by Julia Corderoy01 Dec 2014
Adelaide Bank has signed a deal with Sandstone Technology to implement its new generation loan origination platform, which the bank says will deliver a superior experience to Adelaide Bank's third party originators and their customers.

The new loan origination platform will comprise the LendFast Loan Origination system, Broker Gateway and Customer Care portal. Throughout the process, Sandstone and Adelaide Bank worked closely, drawing on market knowledge and deep lending experience to help maximise the service offering to loan origination partners to deliver a complete end to end solution.

Damian Percy, General Manager Third Party Lending at Adelaide Bank, says the new platform will offer greater efficiencies for brokers.

“The implementation of the LendFast loan origination system will deliver significant operational efficiencies as well as an enhanced customer experience,” he said.

“We are always looking to improve our processes and as part of the LendFast implementation, we expect to deliver a range of benefits to mortgage managers and brokers including a new document and case tracking portal, allowing them to quickly and easily upload documents and follow the progress of loan applications.”

Sam Plowman, COO of Sandstone Technology, said their new deal will see Adelaide Bank will see the lender at the forefront of innovation.

“Adelaide Bank has been a customer of Sandstone's since our inception over 18 years ago. Throughout the years, Adelaide Bank has been at the forefront of innovation and in keeping with this tradition, the implementation of LendFast will provide a streamlined and enhanced experience for the bank’s mortgage managers and brokers, along with their end customers.”