Bluestone launches new digital platform

The lender has moved from a legacy system to an Amazon Web Services (AWS) hosted, cloud-based platform, powered by software provider Mambu and supported by NextGen and lender collection software firm Katabat.

The platform has a suite of new features, including real-time payments backed by Byron-based fintech Split Payments, automated validation of applications, real-time status updates and automated valuations for most loans.

Bluestone has also promised improved loan tracking and accessible lender correspondent in the platform.

The company is set to transition the back book to the new platform in the coming months, with Bluestone to migrate existing customers in stages.

Campbell Smyth, chief executive of Bluestone, said the lender is “excited” about the launch.

“The immediate benefits are obvious in terms of improved efficiencies and better broker and borrower experiences,” Mr Smyth said.

“However, the long-term benefits of speed, flexibility and the ability to seamlessly integrate with new technologies present and future will allow Bluestone to stamp itself as an industry leader in lending and technology.”

James Angus, chief customer officer for Bluestone, commented the system upgrade has aimed for a “more streamlined experience” for brokers.

“This investment in technology demonstrates our dedication to supporting the broker community and continually enhancing their experience with us,” Mr Angus said.

Bluestone has flagged a pending offset product expected to launch later in the year.

The company now manages around $10.3 billion in home loans for Australian and Kiwi customers.

SocietyOne has similarly also launched a digital broker portal for its platform. 

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