NextGen.Net talks effective supporting documents control

by AB01 Dec 2016

NextGen.Net’s ApplyOnline Supporting Documents service pinpoints the documents required by each lender and provides a checklist for brokers. Recent enhancements to the service now deliver increased benefits to lenders and brokers.

“The new Supporting Docs offers a lot of enhanced functionality and gives more power to lenders to better configure the service to get further efficiency gains,” says Tony Carn, sales director at NextGen.Net.

The update delivers a refreshed state-of-the-art, condition-driven user interface (UI) and user experience, which allows brokers to review lender requirements then bulk upload documents to meet the specific requirements.

Lenders are now able to request documents at different stages in the process, with the ability to ‘hard-gate’ (enforce) mandatory document requirements at application submission, dramatically improving processing efficiencies.

“The new UI enables brokers to identify exactly what documents are needed, when, and then upload them easily and securely into the application.”

NextGen.Net continues to invest an enormous amount in ensuring data privacy and security, and the ApplyOnline Supporting Documents service continues to be the most secure method of transmission of documents.

“The new UI means lenders can move to a situation where all documents are uploaded securely when they need them. The fact that documents are still being emailed would absolutely horrify many applicants,” Carn declares.

Lender document requirements are now even clearer and easier to understand, with OCR (optical character recognition) providing the ability to read and prepopulate certain fields, helping users verify that important documents adhere to policy.

A key benefit for lenders is that they can now also configure their Supporting Docs Checklist so it becomes an excellent tool for managing regulatory obligations in real time going forward.

“We expect to see more demands from regulators in this space, and Supporting Docs is a really powerful platform for helping lenders and brokers meet their obligations,” Carn says.

For many years, lenders have been empowered to deliver rapid change within ApplyOnline, allowing a broad range of changes to be effectively managed by lenders in real time.

ApplyOnline has embraced real-time change capability for a long time, including Supporting Docs,” Carn stresses. 

“NextGen.Net is always engaged in delivering enhancements. We initiated regular broker workshops so we could get broker feedback, and to a large extent we evolve the service based on this.”

The next round of improvements of the Supporting Docs service in 2017 will leverage new functionality in the ApplyOnline App and revolutionise the way brokers interact with applicants in the loan application, submission and approval process.

“In 2017 we will see some real game-changing enhancements that will reframe how brokers can choose to engage and interact with their customers. Watch this space!” Carn says.