NextGen, Australia's leading technology provider to the lending industry, today announced the expansion of its flagship ApplyOnline lending origination and processing platform to include personal loans and credit cards.
The move broadens the platform's functionality beyond home loans and commercial lending, offering lenders a comprehensive solution for a wider range of financial products.
The new capability on the ApplyOnline platform now enables lenders to process personal loan and credit card applications with the same efficiency and thoroughness that has made it the go-to solution for residential mortgage and commercial lending. This expansion is available to all lenders for first-party lending channels such as in-branch, mobile lending, or call centers, whether or not they currently use ApplyOnline for home loans, allowing new customers to access this service independently.
Tony Carn, Chief Customer Officer at NextGen, stated, "The launch of personal loan and credit card applications within ApplyOnline marks a significant milestone in our mission to streamline lending processes across all financial products. By leveraging our robust decision engine and integrating industry-leading tools like Glass's Guide, we're empowering lenders to make better-informed decisions and offer a seamless application experience to their customers".
Key features of the expanded ApplyOnline platform include:
• Fully functional and tailored electronic submission for personal loan and credit card applications
• Integration with Glass's Guide for vehicle loans, providing comprehensive pricing and specification details
• Advanced data validation and document generation capabilities
• Detailed metrics and policy management tools
• Support for unsecured, secured, and partially secured personal loan applications
Beyond Bank Australia, a long-standing partner of NextGen, is the first to implement the new ApplyOnline capabilities for personal loans and credit cards. Nick May, Chief Customer Officer at Beyond Bank, commented, "NextGen has been an essential partner in streamlining our home loan lending from end to end across all channels. With the introduction of personal loans and credit cards on the ApplyOnline platform, we’re thrilled to extend this seamless experience to a broader range of financial products for our customers. This capability further enhances our ability to provide efficient, customerfocused service across all our lending channels, helping us meet the diverse needs of our customers".
The expanded ApplyOnline platform supports various personal loan purposes, including vehicle purchases, home improvements, travel, education fees, debt consolidation, and more. Its dynamic risk assessment capabilities ensure that lenders can effectively evaluate applications for different product types and risk profiles.