Beyond Bank Revolutionizes Digitalization

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Sydney, Nov 10: Beyond Bank, a prominent mutual bank in Australia, has marked a significant milestone in its ongoing digital transformation journey through its collaboration with NextGen, a leader in digital lending solutions.
The partnership, initiated in June 2022, has successfully implemented a comprehensive, end-to-end solution for all channels, elevating efficiency, automation, and the overall application process.
Beyond Bank’s unwavering commitment to technological innovation is evident in its drive to provide an outstanding lending experience for both brokers and borrowers.
Nick May, General Manager of Customer Experience at Beyond Bank, expressed his enthusiasm for the digital transformation project, stating, “Our collaboration with NextGen has propelled us forward in modernizing our operations.
The fully integrated ApplyOnline platform offers an unparalleled home loan application experience for our brokers and borrowers. We are thrilled to deliver a seamless, efficient, and user-friendly lending experience.”

Nick May, General Manager of Customer Experience at Beyond Bank.

Mike Ponsonby, Head of Lender Partnerships at NextGen, commended Beyond Bank’s dedication to innovation, saying, “Beyond Bank’s commitment to providing a superior lending experience is exceptional. We are proud to be part of their digital transformation journey, and our market-leading ApplyOnline platform caters to the needs of all lenders, regardless of size or type.”
With NextGen’s ApplyOnline platform already established for electronic lodgment in the third-party channel, the collaboration has now resulted in an end-to-end, harmonized mortgage origination and assessment experience for both first and third-party channels.
This includes additional digital service enhancements for brokers and a more efficient loan application process for Beyond Bank staff and borrowers.

Mike Ponsonby, Head of Lender Partnerships at NextGen
Mike Ponsonby, Head of Lender Partnerships at NextGen.

The integration of NextGen’s latest products signifies a significant advancement in Beyond Bank’s digital transformation project.
Ponsonby emphasized the achievement, stating, “Beyond Bank is now among the most integrated customers of NextGen, benefiting from a range of tools and services within the ApplyOnline platform. This ensures seamless processing, from application to settlement, leading to a better home loan journey for Australian borrowers.”
Beyond Bank has embraced the new version of the ApplyOnline platform, ensuring a faster, smarter home loan application experience for mortgage brokers.
This includes the adoption of ApplyOnline ‘eSign’ and several other new tools introduced since the project’s inception.
ApplyOnline has been implemented in all Beyond Bank branches nationwide, as well as in their national contact center.
Beyond Bank staff can now leverage ApplyOnline’s inbuilt application tools, including NextGenID® for instant digital verification of applicant identification and streamlined valuation ordering.
These tools position Beyond Bank to enhance the quality of applications and reduce reworks for faster approval times.
Beyond Bank has also integrated NextGen’s loan processing platform for mortgages across all channels, fully incorporating these technology solutions with proprietary systems and third-party integrations.
This integration ensures comprehensive credit reporting, title search with Equifax, and FMS for settlement.
ApplyOnline’s credit decision engine will further expedite the assessment and approval process across all channels.
The collaboration with NextGen has significantly improved both business operations and customer experiences for Beyond Bank.
The implementation of NextGen’s ApplyOnline platform has streamlined the lending process, underscoring Beyond Bank’s commitment to investing in technology to deliver the best lending experience with a focus on improving turnaround times.
The next phase of the project will see the adoption of ApplyOnline for personal loans and credit cards, followed by commercial lending and post-settlement variations.
Beyond Bank’s collaboration with NextGen reflects its dedication to providing an exceptional lending experience and driving operational efficiency through advanced technology.

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