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Mutual bank Beyond Bank has entered a partnership with NextGen in what the lender describes as a “major milestone” in its digital transformation journey.
According to the lender, the collaboration was initiated in 2022 and has resulted in the implementation of a “comprehensive” end-to-end solution for all channels, helping improve efficiency, automation and the application process.
NextGen has established through its ApplyOnline platform electronic lodgement for the third-party channel, including digital service enhancements for brokers and efficient loan application processes for Beyond Bank’s staff and their clients.
Beyond Bank has also adopted NextGen’s loan process platform for mortgages across all its channels, now fully integrated with all its proprietary systems and third-party integrations.
The lender confirmed it will also use ApplyOnline’s credit decision engine for applications across all channels.
Beyond Bank’s general manager of customer experience Nick May said: “Our collaboration with NextGen has allowed us to take a significant step forward in modernising our operations.
“The new ApplyOnline platform, now fully integrated with our systems, offers an unparalleled home loan application experience for our brokers and borrowers. We are thrilled to provide our customers with a seamless, efficient, and user-friendly lending experience.”
Head of lender partnerships at NextGen, Mike Ponsonby, said the lender’s “commitment to innovation and their dedication to providing a superior lending experience is exceptional”.
“We are proud to be part of their digital transformation journey, and our market-leading ApplyOnline platform is designed to cater to the needs of all lenders, regardless of size or type,” Mr Ponsonby said.
The mutual lender is one of the latest to utilise the new version of the ApplyOnline platform, which includes the availability of ApplyOnline “eSign”, along with several other new tools adopted by Beyond Bank since the inception of the project.
“Beyond Bank’s integration with NextGen is a remarkable achievement,” Mr Ponsonby added.
“Beyond Bank is now among the most integrated customers of NextGen, benefiting from a range of tools and services within the ApplyOnline platform.
“This integration ensures seamless processing, whether the loan is created by a broker or banker, from application to settlement, which ultimately means a better home loan journey for Australian borrowers.”
The next phase of NextGen’s project is set to include the adoption of ApplyOnline for credit cards and personal loans, followed by post-settlement variations and commercial lending.
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