Outsourcing

Get full-time, fully-managed offshore support staff and save up to 60% on labour

Degree-qualified finance professionals

Are you spending too much time on back-end processes? Time you should be spending on writing new loans and growing your business?

Between compliance requirements, increasing labour costs and a tighter market, loan originator margins are being squeezed like never before. So efficiency is now more important than ever.

With Loanworks, you can get full-time offshore staff, for around 40% of the cost of employing locally.

  • Full-time staff who work only for you
  • Degree-qualified
  • Experienced finance professionals
  • Based in Manila

How it works

We handle the entire back-office, so you can focus on winning more business. We’ll find and recruit the people you need, set them up in our modern facilities, and train, manage and support them. Then we’ll design reliable, repeatable, efficient processes around the way you like to work, using all your existing tools.

What we do

Recruitment

  • Recruiting and sourcing the right staff, with the necessary skills, qualifications, and personality traits required to meet your job requirements
  • Two recruitment interviews for each shortlisted candidate
  • English & maths proficiency assessment, reference check, DISC personality assessment for interviewed candidates
  • Written summary for each recommended candidate


Employment

  • Employment contract


Onboarding

  • Data security & compliance training
  • End-to-end loan processing training


Management

  • Top-up training to meet your evolving needs
  • Quarterly & annual performance reviews in collaboration with you
  • IT support
  • Finance and admin support
  • HR support
  • Fund and manage workplace wellness & engagement activities


Remuneration

  • Payment of salary direct to employee in their local currency
  • Independently verified salary benchmarking
What you do

Recruitment

  • Interview shortlisted candidates
  • Choose the successful candidate


Employment

  • Nothing! We do it all.


Onboarding

  • Role-specific training as required


Management

  • Day-to-day task management & guidance
  • Review the quality of their work like any other team member
  • Quarterly & annual performance reviews in collaboration with us


Remuneration

  • Monthly payment in AUD of the employee’s salary and fees, paid to Loanworks’ Australian bank account

Whatever skills you need

We’ll work with you to determine exactly what expertise and experience you require:

  • Loan processing
  • Compliance support
  • Customer support
  • General admin (VA)

Loan processing

Don’t let loan processing slow you down. Our experienced, finance-trained professionals can support your existing teams in completing the following tasks, while saving you up to 60% or more on staffing costs:

  • Credit application data entry
  • Expense/income verification
  • Serviceability and funding calculations
  • Document verification & preparation
  • Property valuations
  • Workflow task follow-up
  • Credit support
  • Preparing settlement
  • Account management support
  • Customer service support

Compliance support

Ensure the fulfilment of compliance and responsible lending obligations with dedicated compliance services:

  • Review identified credit applications
  • Review supporting documentation, NCCP documentation, applicant income & expenses, serviceability, required data entry and file notes against a compliance checklist
  • Review of accredited credit licensee businesses
  • Review required policies, accreditations, licenses and memberships against a compliance checklist
  • Collate file review and business review information
  • Enter information into compliance systems
  • Undertake quality control checks
  • Survey identified credit application customers to assess compliance of the credit offer process they underwent
  • Perform assessments by phone, email and/or survey
  • Compile reports of outcomes

Customer support

Focus on nurturing relationships and up-selling diversified products:

  • Provide dedicated customer support services
  • Maintain marketing databases and campaigns
  • Gather current loan and property data
  • Prepare annual review reports
  • Process loan variations
  • Monitor pre-approval applications

General admin (VA)

All our offshore staff are required to perform general admin duties during your quiet times. You can also get a full-time offshore virtual assistant (VA).

  • Manage diaries and email inboxes
  • Enter client data into CRM
  • Source better rates for your customers
  • Customer engagement (e.g. anniversary and birthday notifications)
  • Social media activities

Benefits

We source, recruit and employ all outsource staff, ourselves, then set up their IT and provide ongoing support. This means significant, measurable benefits for you:

  • Write more loans & grow your business
  • Save up to 60% on staffing costs
  • Increase profit
  • Reduce your cost of service
  • Improve customer experience with dedicated staff
  • Reduce your workload and achieve a better work/life balance
  • Dramatically reduced error rate (and troubleshooting time)
  • Happier, more productive and focused local staff
  • No need to worry about recruitment, payroll, labour laws, office space & equipment, system setup or IT support
  • Find staff that you can’t find locally

Why us?

Loanworks is an Australian company with a 20+ year track record in the Australian lending industry. We’re a specialist outsource provider with 350+ staff in Manila, and we’ve been operating there since 2010.

  • APRA, ASIC and privacy compliance
  • Already endorsed by the majority of Australia’s major aggregators
  • All our outsourced staff have a degree and finance industry experience
  • Hands-on account manager in Manila to support your staff and keep you appraised of their performance

APRA, ASIC, modern slavery & privacy compliance

Our outsourcing operations are compliant with the regulatory requirements set out by the Australian Prudential Regulation Authority (APRA), Australian Securities & Investments Commission (ASIC) and the Australian Modern Slavery Act (2018).

We have achieved ISO27001:2013 and SOC2 Type 2 accreditations, which encompass information security, cybersecurity, data privacy, business continuity and risk management practices.

What’s more, Loanworks is an APP entity under the Australian Privacy Act (1988), and we employ specialist legal support from a panel of law firms to ensure ongoing compliance with Australian Privacy Laws.

Frequently Asked Questions

How difficult is it to outsource within a regulatory compliant framework?

We're in the lending business ourselves, so we're well versed in compliance matters, including APRA, ASIC, ISO certification, the Australian Privacy Act and requirements for physical and digital security, and secure data storage. We have dedicated compliance services to help your business fulfil its compliance and responsible lending obligations.

How would I integrate outsourced services into my existing business and manage the change?

We've operated our own outsource operations in the Philippines for over a decade and specialise in services for Australian loans originators and lenders, so we know how to integrate teams and manage change. Our experienced staff will work closely with your business to ensure smooth integration.

What if I don’t want to outsource everything listed?

You don’t have to. We’ll tailor a solution that meets your needs, exactly, so you only outsource the tasks you need to outsource, and nothing more. We provide advice, but it's completely up to you.

Do you use my systems and processes?

We’ll use your existing systems (e.g. email & CRM) and processes as needed. We're also a well-known industry software provider, and we bring this expertise to bear in all aspects of our business.

Mortgage Choice case study

Mortgage Choice Group needed experienced loan admin support to help their franchises grow their businesses and stay on top of the increasing complexity of loans.

Read Case Study

A swag of awards

Along the way, we’ve won many prestigious awards, and have achieved ISO27001 and SOC2 accreditation – the finance world’s most sought-after accreditations for information security.

2020 MFAA National Winner 2019 Australian Mortgage Awards Finalist 2018 Australian Mortgage Awards Finalist 2017 Australian Mortgage Awards Finalist 2017 MFAA National Finalist

Support for aggregators too

If you’re an aggregator and you need help administering and supporting your brokers, we can help. Contact us below to discuss your needs.

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Talk to us about how we can help

To learn more about a Loanworks outsourcing solution, please contact our Outsourced Services Manager, Jason Goodacre. Jason has played a key role in the design and delivery of solutions for countless clients. He’ll ask questions, listen, and help you find your particular way forward.

+61 498 112 056

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