• Finsure CRM Infynity and NextGen.Net’s ApplyOnline integrate to alleviate duplication of documents
  • The aim is to cut processing time by half by offering a robust solution for Finsure brokers
  • The two entities aim at digitization and streamlining of the entire mortgage lending process

A new collaboration between NextGen.Net’s ApplyOnline and Finsure’s CRM Infynity aims at dedicatedly working toward reduction in duplication of documentation uploads in an attempt to slash down application times.

The tech solution provider and the aggregation group that caters to the lending industry have joined hands to introduce a solution to reduce the time taken for Finsure brokers to lodge loan applications by eliminating double document handling.

At present, Finsure’s cloud-based broker CRM platform, Infynity, demands brokers to upload and re-download loan documents as a pre-requisite before these documents can be attached to an application in NextGen.Net’s lodgement system, ApplyOnline.

In order to eliminate this administrative workload, the two entities have joined hands to develop a solution that aims to “halve processing times” via “a holistic solution for Finsure’s brokers.”

The expert’s take

Simon Bednar, General Manager of Finsure Finance and amp; Insurance and LoanKit Aggregation, expressed, “This new piece of technology will enable the documents to be sent concurrently – similar to email attachments – and appear  automatically in ApplyOnline.”

Additionally, the solution will blend with Finsure’s new customer portal to allow borrowers to upload documents themselves for their broker to sign off on.

Talking about the upcoming customer portal capabilities, Mr. Bednar stated, “Our customer portal will allow customers to upload their documents on behalf of the broker. The broker will immediately see the documents in Infynity, confirm they’re correct, and hit a button to send them to ApplyOnline along with the application data.”

He added that, as part of that process, there is also a “tax file number and sensitive data reduction piece of technology.”

NextGen.Net’s National Customer Account Executive, Greg Phillips, said the two entities are working together to assure the two systems “talk to each other in a highly sophisticated manner to eliminate double handling and streamline the process from the point of sale all the way to the lender’s approval.”

Mr. Phillips added, “NextGen.Net and Finsure share the same vision to digitize and streamline the entire mortgage lending process.”

Looking forward, Mr. Bednar also noted that NextGen.Net’s acquisition of open banking specialist Frollo could provide further efficiencies by providing brokers with access to borrower’s data directly from banks, which would inform an application.

He further mentioned, “That’s exactly what I’m looking for, to have as little third-party integration and interaction as possible. It was great to see that NextGen.Net had that breadth of knowledge outside of submissions.”

The aggregator GM concluded that the group relies on NextGen.Net’s ApplyOnline platform to cover off on “efficiencies and accuracy,” which he said was “a huge piece of work in itself.”

Last but not least, Mr. Bednar said, “We keep our platform open to allow brokers to be a little bit more fluid in how they collect the data, and the idea of them sending it to NextGen.Net is great for me because they effectively become the quality insurer and checker that allows our system to be efficient and accurate – so when it goes to the lender, the data is complete.”

He firmly added, “From a strategic partnership perspective, that’s powerful.”