Connective has launched a new asset finance quoting and processing platform to enable brokers to offer a more diversified service.
The BOLT platform, which launched this week, has been developed by Adelaide-based company Positive Lending Solutions for Connective Asset Finance and aims to help brokers generate more revenue by offering clients asset finance loans, and improve turnaround times and settlements.
BOLT is available on Mercury 5 and provides brokers with a paperless application and approval process, while providing users with application status updates on a daily basis. It is also mobile and tablet enabled to help brokers submit deals ‘on the go’.
The existing EasyLodge platform is now being phased out.
Speaking about the platform earlier this year, Connective director Mark Haron said: “We’re very, very pleased to say that we are moving forward in using a new service provider in the referral program.
“We’re using a group called Positive Lending, based out of Adelaide. Tom Caesar who runs that business is a tremendous guy with a really good background and experience in servicing a lot of finance, and car and consumer and asset finance transactions. He has a very technology-based system and they have a great service platform.
“Going forward, Connective Asset Finance deals will be able to be done straight out of Mercury, [meaning] that it will be much more seamless for [brokers], not having to re-enter data and put it into EasyLodge.”
Brent Starrenburg, head of the Connective Asset Finance, told The Adviser: “The BOLT platform has a lot more efficiencies than EasyLodge, and the team at Positive Lending have put this together in about eight weeks, so they have done an amazing job in getting a system built from scratch in that time."
Mr Starrenburg said that the platform is intuitive and 'smart' with an algorithm in the back that "knocks off lenders that don’t fit the criteria based on the input data".
He said that there should be products for car, truck, equipment and machinery loans from about 14 lenders available through the platform by the end of the month.
The head of asset finance added that he expects about 25 per cent of their 3,000 brokers to be using the platform quarterly.