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Adelaide Bank has forecast "significant operational efficiencies" after signing off on a new generation loan origination platform.
The bank said it had chosen Sandstone Technology to implement its new platform following an extensive market study and strategic review.
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The platform will include the LendFast loan origination system, broker gateway and customer care portal.
Adelaide Bank's general manager of third-party lending, Damian Percy, said the tech upgrade would help the bank service its growing network of brokers and mortgage managers.
"The implementation of the LendFast loan origination system will deliver significant operational efficiencies as well as an enhanced customer experience," Mr Percy said.
"We are always looking to improve our processes, and as part of the LendFast implementation we expect to deliver a range of benefits to mortgage managers and brokers, including a new document and case-tracking portal, allowing them to quickly and easily upload documents and follow the progress of loan applications."
Sandstone Technology chief executive Bob Hall said Adelaide Bank had been a client since Sandstone was founded 18 years ago.
"Throughout the years, Adelaide Bank has been at the forefront of innovation, and in keeping with this tradition the implementation of LendFast will provide a streamlined and enhanced experience for the bank's mortgage managers and brokers, along with their end customers," he said.
[Related: Adelaide Bank cuts rates by 45 basis points]
