NextGen.Net takes service to the next level

by Madison Utley13 Oct 2020

After identifying a significant gap between what its technology is able to accomplish and what it was being used for, NextGen.Net has taken initiative to boost lenders’ optimisation capabilities.

The tech group’s customer solutions team, headed by Philippe Maes, has come up with an actionable process to help close the divide and ensure lenders are maximising their ‘ApplyOnline’ investment, in a bid to increase the efficiency and effectiveness of lenders’ loan processing operations.

“Our initial analysis revealed that on average lenders use only 30% of ApplyOnline’s capability,” Maes said.

“We’ve adopted a customised, consultative approach to vastly narrow that disparity. It entails identifying capability gaps, analysing contributing factors and providing the expertise to correct the problem.

“Our aim is to assist lenders to close the gap between what NextGen.Net solutions are designed to deliver and the reality, which is often an underutilisation of features.”

Maes shared that on one occasion, he was able to redesign a lender’s process and cut the time frame from almost two weeks to less than 60 minutes.

NextGen.Net chief customer officer Tony Carn explained the group collects “extremely valuable” data, some of which reveals how lenders are performing in relation to each other; the information is then sent through to Maes for him and the team to put to use.

According to Carn, many lenders have found the reports detailing how their performance stacks up against their peers in areas such as ‘time to yes’ as “eye opening”.

“What NextGen.Net provides as part of our customer solution maximisation is a bird’s-eye view of the market,” he said.  

“[Lenders] can see immediately if they’re underperforming. They can then work with our Customer Solutions team to identify why that is and address it.

“Our customers’ success is paramount, and we constantly reinvest our time and expertise to ensure success is achieved," Carn finished.