Resimac goes where no non-bank has gone before

Lender enters new partnership to facilitate its transition to Australia's first "neo-non-bank"

Resimac goes where no non-bank has gone before


By Madison Utley

A non-bank mortgage lender has selected a technology partner to help facilitate the “end-to-end digital modernisation” of its offering across Australia and New Zealand, taking the first step towards becoming Australia’s first “neo-non-bank”. 

Resimac will rely on the digital banking solution stack provided by Infosys Finacle, using its state-of-the-art public cloud architecture to cost-effectively scale at will, deliver more personalised digital banking experiences and enhance security.

According to Resimac CEO Scott McWilliam, the move comes as part of the group’s efforts to “engineer for the future”.

“Our ‘customer first’ digital strategy recognises that lending in the future will look fundamentally different from today,” he explained.

“Our partnership with Infosys Finacle will enable us to seamlessly adapt to the dynamic and complex lending landscape, while serving our customers’ financial needs in a secure manner.

“We are confident that Finacle’s solutions delivered on the cloud will accelerate our transformation into a digital-first lender and help deliver a range of multi-accessible, flexible and innovative financial solutions.”

Enabled by Finacle, Resimac will now be able to create products, open accounts and manage the entire loan-servicing lifecycle – including payments – in a “truly digital manner”; the new capabilities will allow for greater flexibility in personalising products, such as when choosing lending terms, to cater to each customers’ unique situation.

Infosys Finacle senior vice president and global head of sales, Venkatramana Gosavi, has praised Resimac for being a forerunner in the non-bank lending space.   

“As one of the early movers to cloud in the non-bank sector, Resimac is clearly pioneering a path and we are proud to be their partner of choice in this change journey,” he said.

“The Finacle Digital Banking SaaS model will allow Resimac to achieve the necessary agility as well as provide enhanced functionality and security to its customers."

Gosavi is confident the Infosys Finacle technology will help Resimac “set new benchmarks for customer experience and growth”.

Infosys Finacle associate vice president and head of business for A/NZ, Theo Albers, agreed that Resimac should be applauded for its move to modernise, especially as getting on board with the latest technology is essential to truly competing and innovating in Australia's current landscape.

“The modern Finacle SaaS Digital Banking solution suite on cloud, will provide Resimac the bedrock on which they can grow and diversify their business with enhanced product and service offerings, while positively transforming consumer experience,” he said.

“I commend Resimac on its modernisation vision and we are delighted to partner with the firm to support and help scale their growth.”

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