subscribe to our newsletter

Innovating the asset finance and personal lending space

Promoted by LoanQ.

LoanQ is a smart loan origination platform and lender gateway service designed for brokers and dealerships, which can be used on any device. Head of distribution Scott Juda reveals more

LOANQ IS a smart loan origination platform and lender gateway service designed for brokers and dealerships, which can be used on any device. LoanQ has been built to streamline asset finance and personal lending – a segment that is currently complex, fragmented, cumbersome, and frustrating for brokers.   Mortgage brokers frequently pass up the opportunity to offer personal lending and asset finance to their existing customer base.  As a result, they sacrifice significant revenue, diversification, and customer retention opportunities.

We’re here to level the playing field and be the fintech of choice for brokers. Our primary goal is to create a solution for all mortgage and finance brokers, and dealerships, equipping them with the tools they need to compete with “the big guys”.  

In an era of digital disrupters and innovative fintechs, brokers are exposed to a risk of being unable to keep up and compete with these larger companies. This is due to the significant financial capital requirement and technological know-how to build and implement their own solutions. LoanQ offers such a solution out of the box. Using LoanQ, most loans can be originated in under 20 minutes.

Making asset finance easy 

LoanQ is designed to provide brokers and dealerships with guided flows and application processes that standardise how they write personal loans and asset finance. By following the intuitive flow, LoanQ asks deal-specific questions and narrows down the lenders and products suitable for the client. The result is better-quality applications, quicker turnaround, and higher conversion rates.

LoanQ enables a guided and compliant data collection process for users, with conditional field validations, digital identity verification, credit scoring, and banking data collection. We have developed a powerful decision engine that enables precise product selection.

With integrations such as DocuSign, Illion/Equifax Access Seeker, OCRLabs verification of identity, Glass’ and PPSR search, open banking, direct to lender lodgement, and automated NCCP and BID compliant document production, LoanQ prompts brokers at the right points in the sales process, taking much of the hassle out of the equation. It’s simple, easy to follow, and provides a great user experience for brokers. 

We are providing brokers with the solution they need to streamline the sales process so they can take clients off the market sooner and pass on this exceptional experience to their customers. 

Until now, the processing of personal loans and asset finance has been an onerous and manual one for brokers to complete. Brokers needed to use multiple lender portals, manually analyse and compare rate cards and complete manual compliance documents, etc. all time consuming and frustrating work. Our goal is to see more brokers regularly doing asset finance and personal loan transactions.

Customer self-service quoting and application plug-in

We have also developed a client-facing portal, WebloanQ, which enables consumers to complete quotes, product comparisons and applications in their own time. As an industry first, WebloanQ also incorporates a home loan comparisons and application flows. 

For a low monthly fee per business, participating brokers will be able to plug WebloanQ straight into their website. From here, clients can run their own specific scenario to get an indicative quote and product comparison, then complete and submit their application to the broker. 

WebloanQ will give participating brokers the ability to broaden their reach with clients by using our tool in their advertising campaigns, as well as at the point of sale in dealerships or retailers. They will also be able to utilise the tool in conjunction with real estate inspections, deploying QR codes and social media marketing, among other channels.

WebloanQ is already available for all LoanQ and Salestrekker users. 

We want to see more brokers completing asset finance transactions. As more lenders are now providing the ability to integrate and directly lodge loan applications, a more streamlined process is emerging, and the manual handling of loan applications is reducing. This, in turn, saves brokers the frustration and wasted time of using multiple systems to handle a simple application. 

Futureproofing your business

We’re speaking to aggregator groups to assist their brokers in partnering with LoanQ. This is important, as we’re dealing with both regulated and non-regulated lending.  Having a compliant and training-free solution for personal loans and asset finance ensures aggregators increase their settlements while further diversifying their offering. 

The benefit that lenders get from LoanQ is in reduced processing time, cleaner, more complete and more relevant loan applications with higher conversion rates.

Aggregators, brokers and dealerships that adopt LoanQ are futureproofing their businesses by adding the most advanced origination and lodgement platform in the market that ensures revenue growth and increased customer satisfaction. 

“WE’RE HERE TO LEVEL THE PLAYING FIELD AND BE THE FINTECH OF CHOICE FOR BROKERS”

Scott Juda
head of distribution
LoanQ

Innovating the asset finance and personal lending space
mortgagebusiness

Latest News

An industry poll has been launched to understand the key issues impacting mortgage and finance industry professionals leading up to the 2022...

The mutual bank has confirmed that it has reached a milestone figure of $10 billion in assets. ...

The financial complaints body has recruited a new leader for its compliance and monitoring team. ...

FROM THE WEB

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.