Product comparison tech tool launches for brokers

Available to Salestrekker and LoanQ users for a monthly subscription fee, WebloanQ is a plug-in that can be embedded into broker website to enable their clients to compare home loan, asset finance and personal lending products.

As well as enabling clients to view and compare relevant products from the broker’s lender panel (chosen by the system's "advanced decision engine"), the technology also guides clients through loan applications, and allows them to upload required documents/utilise open banking and track approval progress. It is reportedly compatible with any device. 

Once the application documentation is completed by the client, the lead pushes through to the Salestrekker CRM to complete digital verification of identity, credit checks, property and car searches etc.

When complete, the broker is notified to contact the client and review/discuss the application (and ensure it is in the client's best interests, where applicable) before submitting it.

According to the WebloanQ partners, the tool can help brokers "supercharge" their lead generation while also improving user experience and reducing the time taken on writing and lodging loans.

Speaking to The Adviser for the In Focus - Innovation video series last month, the head of distribution of the loan origination platform, Scott Juda, said that the technology had been delivered to help improve customer experience, while saving time and costs for brokers.

Mr Juda explained: "There has been a lot of brokers trying to build similar tools for years and spending a lot of money. They can do this with no capital investment and plug it into their website and ready to go in about 20 minutes."

He added that WebloanQ is also supported by a QR code that brokers can use on business cards, flyers, posters etc to help direct clients to the tool.

Salestrekker CEO Dalibor Ivkovic said that the "first-of-its-kind technology" was "enabling every broker business to compete with the big fintech players".

"There has never been a more exciting time to work with brokers in Australia," he said. 

"With the rapid emergence of digital technology and continued broker market share growth, Salestrekker embarked on a collaboration with LoanQ to develop and implement WebloanQ...

"We were looking at a solution that puts brokers on the level playing field with the emerging fintechs," he said.

You can find out more about WebloanQ and LoanQ in the recent In Focus - Innovation video series, here: