ApplyOnline platform improves loan processing efficiency and broker experience
NextGen, a technology provider for the lending industry, and Bendigo Bank have reported significant achievements through their strategic partnership, utilising the former’s ApplyOnline platform.
The collaboration, which aims to deliver Bendigo Bank-branded home loans to mortgage brokers nationwide, has already resulted in notable improvements in loan processing efficiency and broker experience.
NextGen said Bendigo Bank’s home loan approval speed now ranks among the top three lenders in the industry. It also claimed that the bank has seen a 40%-50% reduction in the time to unconditional approval compared to the previous Adelaide Bank experience. There has also been a significant increase in application volumes submitted through the ApplyOnline platform over the past six months.
Bendigo Bank Broker is accessible to thousands of brokers across aggregator partners including Yellow Brick Road Aggregation, National Mortgage Brokers (nMB), Astute Financial Management, Loan Market Group, Mortgage Choice, Specialist Finance Group, outsource Financial, and Finsure.
“We’re thrilled to expand our long-standing partnership with Bendigo Bank through our ApplyOnline platform,” said Mike Ponsonby (pictured above left), head of lender partnerships at NextGen. “This collaboration allows us to build on the successful foundation we established with Adelaide Bank, taking it several steps further to deliver innovative solutions for brokers under the Bendigo Bank brand.”
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Bendigo Bank said the partnership, which has focused on optimising processes, enhancing automation, and boosting digital capabilities, is also a key component of its broader transformation plan.
“NextGen have been an important partner for the Bank as we’ve embarked on a new offering for our broker network,” said Bendigo Bank general manager of third party banking Darren Kasehagen (pictured above right).
“Bendigo Bank Broker is for brokers who want better. We combine strong business relationships and enhanced digital processes to deliver a broker focused, service-driven platform for brokers across the country. We’re committed to being there for our brokers - so they can be there for their customers.”
