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The major bank has announced its “transformational” partnership with a fintech tool designed to improve broker-originated loan applications.
ANZ has partnered with Loanapp, an e-lodgement tool designed by Simpology to be used by brokers for the submission of mortgage applications.
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The big four bank noted that it will initially make Loanapp available through aggregators Australian Financial Group (AFG) and Connective.
According to ANZ, Loanapp, which was built into the LIXI CAL 2.0 standard, enables lenders to manage broker-originated loans instantly and ensures that brokers using the tool are up to date and comply with lenders’ requirements in real time.
ANZ general manager of residential broker Simone Tilley said that she believes the partnership would enhance the broker experience.
“This is a transformational step for our business,” Ms Tilley said. “Simpology follow[s] the agile methodology and is capable of implementing change smoothly and efficiently.”
“In such a fast-changing environment, these are essential elements we look for in all key business suppliers. Ultimately this is about providing choice, which will only further enhance the ANZ broker experience,” Ms Tilley added.
Founder of Simpology Kate Gubbins said: “With Loanapp, we wanted to deliver an easy and trustworthy experience to both brokers and lenders. It is configured with business logic that matches the lenders’ internal loan processing systems, product and credit requirements.
“The intuitive user interface guides the broker based on this business logic, and because it can be updated in line with changing lender requirements, brokers and lenders can ensure submissions are compliant, complete and ready to process.”
[Related: OmniPay launches ‘collaborative’ supply chain finance platform]
