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The loan origination platform has revealed it has aligned with Annature, introducing the fintech’s eSigning product to its brokers.
Founded in 2020 by Amreeta Abbott, the former chief executive of NowInfinity, Annature is an eSigning and verification start-up based in Brisbane, Australia.
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Its digital signature product utilises “blockchain technology” to deliver “a cryptographically verifiable database and audit trail for all digital signatures” – a move that the fintech claims offers greater protections.
Further, Annature is said to not charge a premium on the eSigning, identification and payment process.
LoanQ has stated that the arrangement will allow it to introduce a “more fully-featured, digitised, data secured, customised and flexible eSigning product” for its network of mortgage and finance brokers, said to be in excess of 4,000.
The platform’s head of distribution Scott Juda added that another critical factor in the decision to implement Annature’s digital signing product is the fintech’s cloud-based architecture and API capabilities – features that could save time for both staff and clients.
“We’re cloud-first because that is what logic and technology-enabled solutions thrive and scale on,” Mr Juda said.
“And as we all saw with COVID-19, people globally adapted to digital working.”
Ms Abbott added: “Annature and LoanQ are ideal partners because we’re two companies which believe in the same thing.
“Our technology is API-driven, exceptionally reliable, we’re ISO certified, ID verification/KYC/AML feature rich and all data with us is safely stored here onshore in Australia.”
LoanQ’s confirmation of this partnership marks the latest development of eSigning’s intersection within the lending sector.
Since 21 March, for example, AMP has offered digital signatures for its loan applications, a move said by the non-major bank to be intended to “simplify and improve the lending experience for brokers and advisers”.
In 2020, ANZ introduced digital signatures for all of its application forms on LoanApp and ApplyOnline.
However, it also stands as the latest step taken by Annature towards this space.
Earlier this year, the CRM platform Salestrekker announced that it had partnered with the fintech.
Speaking at the time, founder and chief executive Dalibor Ivkovic commented: “Being a local provider with extensive security credentials and sound growth plans, Annature perfectly fits into the Salestrekker ecosystem.
“Improved customer experience, speed and performance were the key reasons for selecting Annature as our new eSigning provider.”
In December last year, Salestrekker and LoanQ announced that the pair had partnered to launch a new product comparison tool that can be embedded into a broker’s website to enable their clients to start their loan application online.
[Related: Let’s get digital]
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