TSB Bank in New Zealand is rolling out a new lending solution from Australia-based fintech start-up Cloudcase.
The bank states the new system “substantially reduces the time to process a loan from application to contract with multiple business efficiencies and customer benefits”. The project started in January last year and has been a collaborative effort of TSB Bank’s technology teams and third party providers, Cloudcase, CoreLogic (property information, analytics and services provider), Decision Intellect (credit information bureau) and TSWG (digital banking software provider).
The platform is being implemented in stages, starting with standard residential lending. This has already been launched. Personal loans, complex residential lending that (involving trusts, companies and guarantors) as well as “other improvements” will be launched over the coming months, according to TSB Bank.
“Our goal was ‘one-way, same-way’ to improve a customer’s experience by standardising and streamlining our loan process,” says Steve O’Shea, TSB Bank’s general manager of customer, sales and service. As a result, now “if a customer is prepared with all required information, a simple loan contract can be with the customer in 40 minutes instead of an hour or two”, adds Shaun Tubb, the bank’s chief transformation officer.
About: Cloudcase Software Solutions is a specialised software company focused on providing clients innovative customer origination solutions for the Banking and Financial Services industry. Founded in 2015 in Sydney, Australia, the Cloudcase team’s competencies and capabilities include; sales and distribution, delivery, support and maintenance, data centre hosting and consulting, to support our enterprise grade solution. Since our launch we have configured and released live product instances, for our clients, to originate:
Source : Banking Tech
