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Sean O'Malley (Chief Executive Officer, AMP Bank), Melissa Christy (Head of Lending Origination, AMP Bank), Sean Quagliani (Chief Executive Officer, Fortiro)
Through its new lender platform AMP Bank will remove friction from the home loan journey and help brokers achieve a faster ‘time to yes’.
AMP Bank is partnering with document fraud detection and verification platform, Fortiro, to modernise how it verifies income and authenticates supporting documents. The result is faster approvals, fewer follow-ups, and a better experience for brokers and borrowers.
“Home lending is highly competitive and for AMP, this is a must win area,” said Sean O’Malley, Chief Executive Officer at AMP Bank. “Digitising and automating key parts of the application process is essential for delivering a better experience to our broker network and their clients.”
Fortiro enables AMP Bank to verify income and detect fraud instantly from the documents brokers already collect, such as payslips and individual tax returns. These checks are completed without manual review in most cases, accelerating the ‘time to yes’.
Faster decisions with fewer document requests
Missing information requests are a major frustration for brokers. When income information is unclear or manual checks are delayed, brokers are often asked to chase more information or face long approval times. The result is increased friction, rework and drop offs.
AMP Bank’s use of Fortiro will help reduce these pain points. Income verification and fraud checks are completed up front using the documents brokers upload in the application. As a result, brokers can move forward with confidence, knowing income has been verified. “Fortiro speeds up the application process and gives brokers a faster decision,” said Melissa Christy, Head of Lending Origination at AMP Bank. “We know the income data is reliable, which means our credit teams can move quickly and with confidence.”
Simplifying the broker and borrower experience
AMP Bank’s automation strategy will improve the broker experience by speeding up approvals and removing the need for repetitive back and forth.
When a broker submits an application with a payslip or individual tax return, Fortiro will automatically extract the income information, check for signs of document fraud, and return verified income data into Loanapp – AMP's new lodgement platform. As a result, brokers will get closer to a final decision sooner and provide a more confident experience for their clients.
“Digitally verifying income was key for us to solve so we could make the experience better for both brokers and customers,” said Christy. “It also means we can check those documents for fraud at the same time, giving our credit teams and our brokers more certainty in the process.”
Supporting scale without adding delays
Behind the scenes, Fortiro will help AMP Bank manage growing loan volumes without increasing processing bottlenecks. As application volumes increase, manual review capacity often becomes a constraint. Fortiro helps by automatically reviewing every submission, reducing pressure on credit teams.
Instead of relying on teams to manually verify income or check documents for fraud, Fortiro will run both checks pre-submission. Suspected fraudulent documents are escalated for human review at submission. As a result, AMP Bank can maintain control without needing to grow internal capacity at the same pace.
“Documents play a critical role in the mortgage origination process and our partnership with Fortiro means we can scale and grow with confidence” Christy said. “One of the reasons we chose Fortiro is for their fraud capability and our ability to detect fraud on a payslip or a tax return the minute it's submitted to us.”
Built to integrate and deliver value fast
Another benefit of AMP Bank’s new approach is speed to impact. Fortiro’s technology integrates quickly and requires no ongoing maintenance from brokers or AMP Bank’s teams. The solution fits into AMP Bank’s new lending workflow and begins checking documents as soon as they are submitted. Brokers benefit immediately without needing to change how they work.
There are no extra steps or complex forms, just faster decisions and fewer delays.
Sean Quagliani, Chief Executive Officer at Fortiro, said, “Brokers already collect lots of documents. We help AMP Bank use them to make fast decisions. We verify income, check for fraud and return reliable financial data that speeds up the lending process. We’re creating a new benchmark in how lenders and brokers work together.”
Better outcomes for brokers
AMP Bank’s partnership with Fortiro will help brokers close deals faster with less friction. With fewer touchpoints and less rework, brokers can spend more time supporting their clients and less time chasing documents.
By automating key steps in the lending journey, AMP Bank is showing how lenders can improve broker satisfaction while maintaining control over scale, speed and compliance. The result will be a faster, simpler and more reliable experience for brokers and borrowers.
Fortiro is a technology company that helps financial institutions detect document fraud and verify financial information. Leading banks and lenders, including three of Australia’s big four, use Fortiro to detect document fraud, automate income verification and accelerate decision times. Find out more at www.fortiro.com
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