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Major bank launches new pre-qualification tool

by Malavika Santhebennur4 minute read
ANZ

The big four bank has announced that it will replace ANZ Toolkit, warning that old data will not be automatically moved to the new pre-qualification tool.

ANZ has announced that it is replacing its ANZ Toolkit with ANZ Qualify as the new pre-qualification tool for brokers to use to aid discussions about loans with their customers.

The major bank said it listened to feedback from brokers before including features which it says will simplify the process of calculating serviceability, qualifying a lender’s mortgage insurance application, and completing an on-the-spot pricing request.

ANZ Qualify will replace ANZ Toolkit effective 9 December, ANZ said.

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“On 9 December 2019, ANZ Toolkit will be deactivated, which means you will no longer have access to the tool from that point forward,” the bank said in a statement.

“As part of our transition, your data will unfortunately not be moved into ANZ Qualify. As such, it is imperative that if you have any information/deals in the ANZ Toolkit that you require, such as pricing requests that are under review, you will need to print them out prior to 8 December.”

ANZ Qualify will be linked to the bank’s internal decision platform, allowing for consistent results across pre-qualification and final assessment.

The number of households or loans that can be captured have been increased as the caps have been removed.

In terms of pricing, the data validation functionality overlays the brokers’ discretionary pricing request to ensure appropriate outcomes. In terms of the LMI waiver, brokers can notify upfront when requesting discretionary pricing through ANZ Qualify by selecting a tick box.     

ANZ Qualify is located in the broker portal and comes with a single sign-on capability, which means brokers need only one password to securely access all necessary tools to submit an application with ANZ.

It also provides business development managers access to view brokers’ saved records to assist conversations around serviceability or pricing outcomes and provide insights into the data entered and how it may have impacted the outcome.

It also includes live chat and an auto save functionality, and can be used on mobiles and tablets.  

The bank said brokers can consult their BDMs for further information on the transition and how in-flights will be treated. The bank will also make available articles and videos to assist brokers transitioning to the new tool, including lending scenarios when they log in.

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Malavika Santhebennur

Malavika Santhebennur

AUTHOR

Malavika Santhebennur is a content specialist at Momentum Media, focusing on mortgages and finance writing.

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