The group said in a statement that the expansion will begin with one of its major banking clients, and will see SAI Global Property doing more of the end-to-end banking processes including loan verifications, loan drawdowns and account openings.
According to SAI Global Property, the decision to expand its service offering was on the back of a strong year-on-year growth, which the group attributed to highly efficient property settlement services, new mortgage processing contracts and the rapid uptake of its first value-add search product.
Ann Wootton, executive general manager at SAI Global Property, said expanding the group’s range of banking services will underpin its next phase of growth and ensure that SAI Global and its clients remain at the forefront of developments in bank processing.
“As the market leader in mortgage services and with SAI Global’s national presence, we expect to support earnings growth through expansion of our business processing services and a continuing focus on providing the market with digital tools to work alongside, and eventually replace, existing manual processes,” she said.
“The SAI Global business is extremely robust and has been further buoyed in 2015 with new major client wins. In addition, our group’s strong focus on quality and outcomes, plus greater collaboration in the industry, including close liaison with our banking, legal and conveyancing clients, has enabled us to achieve continued process improvement and to support a major reduction in settlement failure rates across the industry.”
Benjamin Balk, SAI Global Property’s general manager of product and marketing, told Mortgage Business in September that the group was eyeing opportunities in the property and financial services space after signing a deal with NAB Broker.
“We’re expanding our set of BPO [business process outsourcing] services as part of the NAB Broker deal, and we see further opportunities both in property and financial services where our capability and operational excellence can be applied to other adjacent areas, which we’ll look to apply in FY16,” he said.
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