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Lendi Group has released a new broker tool, Oracle, which will reportedly save brokers about a full day of administrative work a month.
Aggregation group Lendi Group – the parent company of Aussie and Lendi – has launched a new tool that automates the time-consuming job of completing lender calculators as part of a customer’s mortgage application.
The Oracle tool, launched during a recent virtual broker forum, is designed to reduce the manual data entry required in lender calculators, a process that brokers typically perform multiple times per application when testing different lender scenarios.
By integrating into Sandbox, which was rolled out earlier this year, brokers can open a customer’s saved scenario, click export to Oracle, then automatically download multiple lender Excel calculators pre-filled with applicant income, expenses, and property details.
The tool is expected to save the most active Aussie and Lendi brokers one full day per month or around 9,000 days per year across its network.
According to the group, Oracle currently connects with the majority of major lenders on its panel, including Commonwealth Bank, Westpac, St.George, Macquarie, HSBC, and Bankwest, with more to follow.
Speaking of the product launch, Lendi Group’s chief product officer Travis Tyler said Oracle extends the functionality of Sandbox and removes a “pain point” for brokers.
“We built Sandbox hand-in-hand with brokers to empower them to work smarter, build trust faster and guide customers towards the right solution with more confidence. Oracle is a natural extension of this and takes away a massive pain point for brokers,” he said.
The new tool follows recent updates to the group’s platform, which added functionality to automatically extract data points such as income and employer details from scanned documents, including payslips.
[Related: Lendi Group launches Sandbox platform to support brokers]
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