How Ubank delivers a simple path to a fast loan

Q. What prompted Ubank to rebuild its lodgement platform?

There were a few limitations when we launched in 2018 around what we could and couldn’t do. We had a lot of broker feedback, especially around the amount of emails that were sent out to a customer at the various stages of the loan application process. And then we said: “All right, if we could strip all this back and start from scratch, what would it look like?”

We were lucky enough to have brokers come in and share their time with us around what great would look like for Ubank. We then started developing version two of our platform.

The great thing about Ubank’s new platform is that it’s bespoke to us. It’s still a Simpology product, but it is bespoke to Ubank – completely different to every other lender.

Q. What were some of the key things Ubank was trying to achieve?

Our primary focus was around how we make it quicker to do business with Ubank.

And then this enables brokers and their back-office staff to focus on other things like serving more customers. That’s something we’ve really focused on: how do we look at that onboarding and lodgement experience and make that really quick all the way through to settlement.

Q. Ubank has been able to cut application times from 45 minutes to approximately 15 minutes. How have you achieved such a significant reduction?

It’s a relentless focus of just looking at what’s important back to the simple, which is looking at the simple way of doing things and around what pieces of information are required.

For example, compliance information, income information, and verification information.

We had to ask ourselves how do we keep that in, and what is the best way to ask those questions and get that information in a streamlined process?

The flow of the lodgement platform itself is quite intuitive. You can start anywhere within the process. Also, if a broker uses bankstatements.com, and it’s no older than 45 days, we’ll accept that data – it’s the first platform of its kind to be able to do that.

Q. What are brokers saying about the new platform?

Brokers have said the loan application is significantly more intuitive and user-friendly, with faster processing, improved broker flows, and a seamless experience, eliminating inefficiency and reducing delays and client frustration. That really sums up what we’ve tried to do with this.

And look, you’re never perfect. So, we haven’t stopped looking at that process. We catch up quite regularly and ask what we can focus on to make the experience even better.

Q. What are some of the other ways Ubank relieves brokers’ administrative burdens?

We have a wonderful broker support team, and the average time to answer is under a minute.

There is our back-office support team as well. If brokers need to call us to ask us a question or speak to our lending ops team, they’re not waiting on hold for
hours on end.

That’s a biggie with us.

Q. What are some of the ways Ubank is innovating in the product space?

We can now go up to 90 per cent with no LMI. We’ve always had up to 85 per cent with no LMI, but now, we’ve increased that to 90. It’s been a great product, and the reception has been quite amazing. We’ve had some wonderful customer success stories off the back of it.

If you haven’t heard about it, speak to your BDM.

Q. What else is Ubank doing to support customers?

We have a retention team, as well as a platinum and servicing team. The good thing about these teams is they work quite well with the BDMs and brokers. So, if a broker has a query about a retention, they can go straight to their BDM or our teams, and we can help them.

Again, we work very, very closely with the teams across the board.

Q. Why is now a great time to be working with Ubank?

We have over a million customers now at Ubank, which is something we’re quite proud of.

Our app itself is amazing, and it’s something that brokers probably need to consider around that post-settlement user experience that a customer would get.

Ubank is in their pocket every single day. They have their home loan with us, and we can have multiple offset accounts. Apple Pay, Google Pay, all the pays are available straight away. They also have a card that they can use.

So, it’s a fully featured bank – we’re not just a fintech lender.

Products issued by Ubank, part of NAB Australian Credit Licence 230686. Credit criteria and other conditions apply. Info at ubank.com.au

Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries and regions. Google Pay is a trademark of Google LLC.

From 9 March to 30 April, customers who apply for a new Ubank home loan of $250,000 or more and settle by 31 August will go into the draw to have a full year of their home loan repayments covered by Ubank, up to $100,000.

Head to Ubank’s website for more details.

Exclusions and credit criteria apply. Permit numbers - NSW TP/04836, SA:T26/279, ACT TP 26/00356. Winners drawn in Melb on 07/09 & published on 28/10/26. Full terms and winners published at ubank.com.au/win. TMDs at ubank.com.au/tmd.