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Non-bank launches online pre-approval system

by Nick Bendel7 minute read
The Adviser

State Custodians has launched a new website that will allow customers to receive conditional pre-approval online.

Chief executive Heidi Armstrong said the “fully integrated online application” allows customers to verify their identity and ‘sign’ documents over the internet.

The website, launched on February 15, also allows customers to upload documents, she said.

Ms Armstrong told The Adviser that the new website would speed up the home loan application process by allowing successful applicants to skip the data entry stage and proceed straight to underwriting.

“It will definitely take time off the processing ... but we will have to wait and see [to know how much],” she said.

The website will be subject to an ongoing review and upgrade process, she added.

Ms Armstrong told The Adviser earlier this month that non-banks like State Custodians are forcing the majors to lift their game on pricing, innovation and service.

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