Sydney, Nov 22: Ubank, the acclaimed digital bank in Australia, is revolutionizing the home loan application process with its commitment to speed and innovation.
Kanishka Raja, Ubank’s Chief Lending Officer, highlighted their achievements, stating, “Today, a customer’s new home loan application is picked up, and its supporting documents actioned within a few hours, regardless of the application channel.”
The ‘Time to Yes’ for home loan applications has significantly reduced from over 10 days to under four days in the last six months, marking a pivotal shift in the mortgage industry.
Raja emphasized the focus on automation and smarts in the home loan origination process, with plans for further enhancements in the coming financial year.
Artificial intelligence and machine learning tools have been leveraged by Ubank to prompt home loan health checks, benefitting over 4,000 existing customers amidst the rising interest rate environment. Looking ahead, Raja outlined plans to overhaul the application lodgment process, introducing additional automation for straight-through processing, and making it faster and simpler for brokers and direct lending customers to submit applications.
Ubank’s dedication to excellence in technology and customer service recently earned them the title of the Australian Mortgage Awards ‘Fintech Lender of the Year’ for the fourth consecutive year.
Raja expressed pride and motivation, stating, “In-home lending, we want to be known for the easiest application process, ultra-fast turnarounds, and personalized data-driven insights.”
As Ubank continues to prioritize innovation, its goal is to provide the smoothest and quickest home loan experience, allowing its dedicated lending team and broker network to focus on delivering excellent service, speed, and competitive rates to customers
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