Two technology platforms are joining forces to provide a streamlined service between broker and borrower.
Sydney-based CashDeck, a platform provider which helps borrowers quickly and securely provide their bank statements, has announced it is opening up its platform capability with an API.
Seen as the ‘fitbit of the finance world’, CashDeck also generates a detailed income and expense analysis based on the borrowers’ actual transactions.
The API means organisations can now build the functionality into their own platforms.
Ezidox, a document collection software solution used extensively by finance brokers, has begun the process of integrating with the CashDeck platform.
The CashDeck app is currently used by more than 700 broking firms and boasts a high satisfaction rate with both brokers and their clients.
It helps lenders, aggregators, brokers and software developers simplify the process of accurately analysing living expenses.
Wayne Robinson, CTO of CashDeck, said, “This is an area the industry is focusing heavily on at the moment and has led us to develop a solution that provides a lot of value.
“It’s been built to save hours of processing time per loan application and can very quickly be customised to suit the particular needs of a broker, aggregator or lender.”
Geoff Kendall, CEO, Ezidox, said, “We’ve heard great things about CashDeck’s products and an increasing number of our customers have requested integration of our solution with this platform.
“Adding the ability to receive bank statements and an automated living expense as a step in our process will drive measurable and increased efficiency.”
Integration of the Ezidox solution on the CashDeck platform is scheduled to be completed by the end of July.
As well as releasing its API, CashDeck has also added new features to its consumer targeted financial fitness tracker.
The product, called Wealth Desk, is a white label app that can be distributed to clients who need help getting their finances in order in readiness to borrow.
Robinson added, “The app is simple to use but very effective. It produces a living expense analysis on demand and sends one automatically on a weekly basis.
“Essentially what we’re trying to do is help clients get themselves in shape so that when they do start looking for a home loan, they’re already very familiar with their living expenses and what is expected of them.
“It allows them to connect all of their banks to paint a complete picture. It even gives them ideas on ways to do better and lets them know when they should be talking to the broker who sponsored them.”
CashDeck API keys are available now by application.
Introducing the Fitbit of the finance world
Partnership launches product for brokers
The app helping broker efficiency