Non-major upgrades digital loan platform

by Miklos Bolza25 Jul 2017
Non-major lender Auswide Bank has announced the upgrade of its electronic loan lodgement software to update the customer and broker experience.

The bank has moved to a newer version of ApplyOnline to streamline the time to yes, reduce processing and assessment times, improve the quality of broker loan submissions, and eliminate tasks which have no value to broker or customer.

The new release offers a number of additions for brokers including:
  • New policy validation rules to visually step brokers through new mortgage applications
  • An updated loan summary tab that included serviceability indicators
  • A new supporting documents tab for uploading and submitting mortgage application supporting documents
“Auswide Bank is on a continuous improvement journey to enhance our broker and customer experience. Over the years we have progressively rolled out many initiatives to our brokers towards this objective,” Charlton Nevis, general manager of 3rd party distribution, told Australian Broker. “Our upgrade to our ApplyOnline platform is another key initiative that we are very proud to deliver.”

Through the upgrade, Auswide brokers will gain validation at a point of input for policy, serviceability and supporting documentation, he said.

“We will now accept all applications with all supporting documentation uploaded by our brokers. Accordingly our processing team will be able to undertake and complete their assessments more quickly.”

Auswide’s ultimate differentiation is that broker-introduced customers will have a strong engagement with the bank’s people, products and services via its banking channels, Nevis said. This will lead to higher customer satisfaction throughout the banking journey.

“Our brokers know that channel conflict does not exist within Auswide Bank. Therefore, we will continue to work to deliver initiatives, such as this platform upgrade, to assist our brokers to introduce new customers by placing their loan applications more easily with us.

“We are also pleased to have delivered this right at the beginning of our new market leading campaign as it will assist us to better deal with an increased flow of deals arising from the special offers.”

To help with the change, Auswide’s processing team and broker relationship managers will help guide brokers around how to upload supporting documentation through the new portal, Nevis said.

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