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MA Money has become the latest lender to adopt NextGen’s loan application tech ApplyOnline.
Non-bank mortgage lender MA Money is now using technology provider NextGen’s loan application platform ApplyOnline®, in a move aimed at making the submission process smoother and removing friction points for brokers.
Starting today (1 July), brokers will be able to lodge residential loans through the platform.
ApplyOnline is designed as a single hub for brokers to submit and manage loans, with features including checklists and digital document capture to save brokers time and reduce paperwork.
It also uses digital signatures to speed up turnaround times and cut the hassle for borrowers and brokers.
MA Money said it will add new product offerings, including commercial, self-managed super fund (SMSF) commercial loans, and bridging loans onto the platform later this year.
Tim Lemon, MA Money national sales manager, said the move to turn on the loan lodgement platform followed broker feedback.
“ApplyOnline has been one of the most requested tools from our broker network, and we’ve listened and delivered,” he said.
“This is more than a platform integration. It’s about giving brokers what they need to work faster, with less friction and much more confidence. MA Money’s reputation has been built on service and support. ApplyOnline helps us extend that advantage even further.”
He added that the move formed part of the company’s investment in tools and processes that make doing business faster and easier.
Lemon continued: “MA Money continues to strengthen its service model, including a 48-hour service level agreement (SLA) to conditional approval, direct access to credit assessors, and support from a national team of responsive, knowledgeable BDMs.
“Brokers can now lodge MA Money deals through ApplyOnline, making their day-to-day processes faster, simpler, and more aligned with the way they already work.”
The move to use ApplyOnline coincides with several recent milestones for MA Money, including surpassing $3 billion in loans under management and completing a $1 billion residential mortgage-backed securities (RMBS) transaction in May.
Mike Ponsonby, head of lender partnerships at NextGen, said: “We’re thrilled to welcome MA Money to the ApplyOnline platform. Their decision to introduce ApplyOnline during such a significant growth phase shows real confidence in digital transformation.
“We’re excited to support their continued product expansion through our platform, and we expect these future integrations will set a new benchmark for broker experience in the non-bank space.”
Research conducted last year by Agile Market Intelligence found that brokers using ApplyOnline flagged they were particularly satisfied with its straightforward navigation, clear error prompts, and effective data integration with customer relationship management (CRM) systems.
You can find out more about how NextGen is using broker feedback to improve its products on The Adviser’s In Focus podcast.
Tune in to the episode, ‘How broker feedback is shaping ApplyOnline’, sponsored by NextGen, here.
[Related: Brokers increasingly delegating and outsourcing loan processing]
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