One of Australia’s non-major lenders is expecting to cut its turnaround times in half, thanks to a new software upgrade.
Yesterday, St George Bank said the recent upgrade to the NextGen.Net ApplyOnline service would enable the lender to cut turnaround times from eight days to four.
“The ApplyOnline+ upgrade has led to outstanding results,” St George’s general manager mortgage broking Clive Kirkpatrick said.
According to Mr Kirkpatrick, the software’s checklist is a standout feature that will help brokers identify exactly “what supporting documents lenders require”.
“This removes all ambiguity and doubt, and streamlines the process of delivering the application to a loan assessor,” Mr Kirkpatrick said.
NextGen.Net sales director Tony Carn said he was incredibly pleased to receive such positive feedback from lenders such as St George.
"Traditionally lenders and brokers have competed through a combination of pricing, product innovation, policy features and service,” Mr Carn said.
"As the mortgage industry enters a new stage, it is processing efficiencies that provide a truly competitive edge in the market. Applicants, brokers and lenders all benefit from a streamlined process that delivers quicker turnaround times.”
NextGen.Net has invested considerable resources in delivering an enhanced and innovative ApplyOnline+ service, and is well advanced in further evolving innovative solutions in conjunction with brokers and lenders to ensure continuing reductions in processing inefficiencies, costs and turnaround times.