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Beyond Bank eyes digital end-to-end processing

The mutual bank has expanded its partnership with NextGen in a bid to establish a complete end-to-end origination and assessment process.

According to NextGen, Beyond Bank will adopt the full capabilities of its ApplyOnline platform in a move to establish a single system across its first and third-party channels.  

Once complete, this measure will see the application of NextGen tools that include eSign, NextGenID and Access Seeker, as well as the fintech’s Financial Passport. 

This implementation of this end-to-end solution is intended to increase automation across all of the bank’s channels, in turn providing “enhanced accuracy and faster turnaround times”. 

NextGen head of lender partnerships, Mike Ponsonby, said that he believes that Beyond Bank’s roll-out with ApplyOnline will deliver “consistency, reliability and efficiency in one digital experience”. 


“Integrating tools such as ‘eSign’, ‘NextGenID’ and the ‘Access Seeker’ credit report service streamline the lending process for all users, providing a faster ‘time to yes’,” Mr Ponsonby explained. 

Mr Ponsonby later said that the fintech is proud to be working with Beyond Bank, given the “growing appeal of the customer-owned banking sector” and the “strength of the sector in utilising technology to enhance the customer experience”. 

According to a spokesperson from NextGen, Beyond Bank’s expanded use of its offerings will introduce additional digital tools for brokers before the end of the calendar year. 

Speaking of the new arrangement, Beyond Bank general manager customer experience, Nick May, commented that the mutual bank’s top priority “has been and will always be the financial wellbeing” of its customers, “so we need to invest in systems and processes that help us ensure the customer journey is as efficient, smooth and easy as possible”. 

“Lending is central to what we do, so investment in a modern, innovative and integrated loan origination system is an essential part of our current transformation program,” Mr May said.

Mr May later elaborated that the ability to use a single system across its first and third-party channels was “really appealing”, noting that it will align the bank’s service levels across channels, significantly reducing “some of the double-handling that exists today”. 

“Both customers and brokers will see the adoption of new technology that will automate some manual tasks and digitise parts of the lending process that today, are only achieved through physical interactions,” Mr May said.

“NextGen has been an important part of our inception into the broker channel around six years ago. This expanded partnership will now see NextGen play an important strategic role for Beyond Bank moving forward. 

“With a strong existing relationship, we look forward to working closely on the rollout of the NextGen system across all our lending channels.”

Earlier this month, AMP Bank confirmed that, since May, NextGenID and NextGen’s Broker-Order Valuations have been added to its services.

Last year, Bluestone Home Loans confirmed it had introduced the valuation tracker alongside a range of other NextGen products

Earlier this week, Bendigo and Adelaide Bank also confirmed it had taken steps to streamline its loan origination platform, partnering with Sandstone Technology to introduce a “one-platform, “one-process” approach.  

[Related: AMP boosts digital footprint in bid to slim turnarounds]

Beyond Bank eyes digital end-to-end processing

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