An app designed to make the loan application and settlement process easier for brokers has grabbed first place in the mobile category at a global fintech competition.

SuiteBox received the award at The KPMG Fintech Innovation Challenge in London, which presents global fintech companies to a panel of financial institutions including Westpac, Nationwide and Rabobank.

Commenting on the start-up’s win, SuiteBox CEO Richard Mannell said the award is recognition of the opportunity that virtual advice affords.

“This success is a ringing endorsement of the opportunity for truly mobile virtual meetings between professionals and their clients across many industries,” he said.

“SuiteBox is excited to be at the forefront of delivering mobile office solutions globally.”

The app allows brokers to collectively review, amend and sign documents – reducing the amount of paperwork and incorrect application forms, as well as reducing costs and improving overall efficiencies.

Brokers can establish a virtual room for each client and meet when convenient, while clients can join a meeting room with one click and choose if they want to use the video features.

Ian Dunbar, manager of Australia’s SuiteBox operations, told The Adviser in July last year that brokers are able to integrate the app with their own CRM system.

“The principle is it’s very open-sourced, in that it’s got a really clean set of APIs [application program interfaces] to enable integration into external CRM systems,” he said.

[Related: Top broker boosts business with fintech]

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