Login
ISCOVER
ANZ’s commercial offering is preparing to launch NextGen.Net’s ApplyOnline and supporting documents electronic lodgement service.
The major bank said its commitment to brokers was the primary reason behind the move to electronic lodgement, which is being spearheaded by ANZ general manager of commercial origination Cosi De Angelis.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
“I’ve been aware for some time that we need to make submitting transactions to ANZ easier and more streamlined for our commercial brokers,” Mr De Angelis said.
“Brokers hate double and triple-keying transactions; and they don’t like the fact that lenders have their own unique systems, given they have to deal with so many different lenders.
“I thought it has to be a simple process to use data they’ve submitted in a home loan (data they already have in their own CRM systems) in a commercial or an asset finance application.”
NextGen.Net sales executive Greg Phillips said the group is widely acknowledged as the industry standard for electronic lodgement in residential and third-party distribution through the broker channel.
“The same principals in ApplyOnline apply across multiple broking channels; and while we’ve been in this (commercial) space for some time, it’s great that ApplyOnline is being taken up by a key player such as ANZ,” he said.
"Traditionally, car leasing has been a paper-based operation. ANZ Commercial’s commitment to provide a best-in-class solution for its broker channel through ApplyOnline, will provide a sophistication and efficiency to the application lodgement process.”
It will expedite application processing, which will reduce the lender’s operational costs, facilitate sales volumes and leverage technology to attain a competitive advantage for brokers.
Mr De Angelis said his primary focus is achieving a faster turnaround time for brokers.
“Brokers have to deliver a value proposition to their customer; and if I can help them do that by having a seamless process that gets them an approval in market-leading speed, that will sit well with the broker space,” he said.
Brokers will be able to connect to ApplyOnline via their aggregator’s platform.
The basic ApplyOnline functionality is electronic lodgement, Mr Phillips said, but ANZ will also be implementing the supporting documents service and building in a ‘Serviceability (Quote) Calculator’.
“So it’s a comprehensive service which will enable brokers to efficiently fast-track their work and avoid previously time-wasting processes,” he said.
[Related: NextGen.Net solves 'real industry problem']
JOIN THE DISCUSSION