Media Release 30-Sep-13: CUA GET MORTGAGE CHOICE ENDORSEMENT Australia’s largest customer-owned financial institution CUA continues to focus on the broker market. The mutual bank re-entered the broker market in February 2012, committed publicly to invest in the broker channel and sought to demonstrate its support. A shift to electronic lodgement was a primary step, a move that is receiving unprecedented positive feedback from Mortgage Choice and individual brokers alike. The star in this equation is the sophisticated NextGen.Net ApplyOnline electronic lodgement platform, with its innovative technology and celebrated solutions. ApplyOnline, well-established nation-wide as the industry standard for electronic lodgement, was the clear choice says Darrin Northey, Group General Manager Distribution CUA. “ApplyOnline is a key part of the investment we’ve made into our broker channel over the past 12 months. Since focusing on growing the broker-side of our business we have been very conscious of listening to what brokers say they need. This includes refining processes to be a lot faster in response and helping to service customers. A great deal of frustration comes from manually filling out forms,” says Northey. Mortgage Choice CIO and General Manager Operations, Neill Rose-Innes notes: “CUA’s shift to electronic lodgement will make it easier for our brokers, reduce error rates, increase through-put and boost efficiency. “Importantly, it will also give a much better customer experience. “We have 27 lenders on our panel and from a broker’s usability perspective we prefer that our lenders use the NextGen.Net ApplyOnline service and electronic lodgement because it makes the process much more efficient in that brokers don’t have to learn and use different lender-specific lodgement systems and processes,” says Rose-Innes. Besides enabling Mortgage Choice franchisees to leverage the efficiencies of electronic lodgement, ApplyOnline opens the door for Mortgage Choice and CUA to broaden their distribution opportunity, get in front of more clients and write more loans, says NextGen.Net Sales Director, Tony Carn. Investment in its broker channel is an important focus for CUA and ApplyOnline is pivotal to its growth strategy and the primary driver to make business dealings easier for brokers and customers. Efficiency, turnaround times and ease of process were key issues that Northey was looking to address and ApplyOnline ticked all the boxes. “NextGen.Net has a very strong name in the industry,” says Northey. “Plus it has a great relationship with organisations that our broker teams deal with, so it was an obvious choice.” Due to margin squeeze efficiency of process and productivity are vital, maintains Rose-Innes. “The likelihood of omissions and errors is much lower in the ApplyOnline scenario,” he says. “It stands to reason therefore that the more lenders that use ApplyOnline the better it is for our brokers.” Carn suggests that there is a direct correlation between lenders that are serious about third party distribution (that is, committed to offering brokers efficiencies and tools to ensure quality at the point of submission and superior customer experience) and their investment in ApplyOnline.
Posted on: Mon, 30 Sep 2013 01:03:28 +0000
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