Automate your entire lending workflow, from onboarding to settlement

the process on any device
at any stage
Switch devices
any time

Broker & assisted onboarding too

The Loanworks origination solution accommodates broker and assisted lending too. Your customers can apply through a broker, in a branch, through a call centre or with a mobile lender.

And because it’s an entirely omnichannel solution, your customer can come to you for assistance even after starting their application elsewhere (e.g. on their mobile), and you can pick up where they left off.

Start application in-branch
Upload supporting documents at home on laptop
Check status of application at restaurant on mobile

True straight-through processing (STP)

Handling origination manually is a capital-intensive process. It requires a larger headcount, it’s slow and inefficient, and it suffers from an excessive error rate. So you spend way too much time manually troubleshooting, gathering information and fixing mistakes. More importantly, your cost to serve increases with every borrower, which makes scaling a difficult and risky process.

The Loanworks origination solution is a true, straight-through processing (STP) solution. For example, here’s how it works when your customer applies for a home loan directly on their mobile phone…

    1. Determine eligibility
    2. Take application
    3. Collect documents
    1. Verify income and expenses (open banking/CCR)
    2. Auto-assess borrowing capacity & serviceability
    3. Automate credit checks
    4. Automate identity verification
    5. Auto-assess credit policy and product eligibility
    6. Provide conditional approval or refer to loan officer
    1. Automate collateral valuation
    2. Validate supporting documents
    3. Automate title/PPSR search
    4. Auto-assess against credit policy & serviceability
    5. Provide unconditional approval or decline finance
    6. Generate & distribute letter of offer or loan contract
    1. Instruct solicitor / settlement team
    2. Receive & store signed mortgage documentation
    3. Send data to core banking system
    4. Set up PEXA workspace
    5. Book and certify settlement
    6. Disburse loan funds
    7. Settle loan

Measurable benefits

The Loanworks origination solution will deliver significant, measurable benefits to your organisation:

  • Improve customer engagement
  • Reduce time to decision
  • Control headcount
  • Drastically reduce error rate
  • Boost productivity

The resulting savings can be reinvested, and your people can focus on areas where they have the greatest impact.

Supports all product types (including consumer products)

Specifically designed for authorised deposit taking institutions (ADIs) and non-bank lenders, the origination solution is a scalable, configurable software platform that supports all product types, including consumer products.

  • Fixed and variable loans
  • Principal and interest loans
  • Interest only loans
  • Government Guarantee Scheme loans
  • Bridging loans
  • Business loans
  • Construction loans
  • SMSF loans
  • Lines of credit / overdrafts
  • Personal loans (secured & unsecured)
  • Credit cards
  • PAYG, SME & company borrowers
  • Owner occupied & investment
  • Purchase & refinance

Follows your business rules

You define exactly how the system makes decisions. You can configure rules for serviceability assessment & approval, and integrate them with external data services to extend rules and make credit decisions.

Base your rules on your credit policy requirements, using standard variables, including product type, borrower type, collateral type, LVR, location, loan amount, purpose, credit bureau, valuation data and serviceability.

You can run multiple assessments and have multiple delegated approval levels.

Preliminary assessment
Conditional approval
Formal approval

Software as a service (SaaS)

The Loanworks origination solution is provided as a fully managed cloud service under a SaaS model.

  • APRA-compliant Australian cloud hosting​
  • Best-in-class reliability, fault tolerance, resilience and performance
  • Secondary disaster recovery environment located in Australia
  • Scalable and highly available design
  • Geo-redundant, scheduled backups
  • Best practice, 24/7 threat intelligence, monitoring, alerting and reporting
  • Uptime & support service-level agreement (SLA)
  • End-to-end, turnkey implementation (no integration partners required)
  • Full infrastructure maintenance, application support and change management

On premise options also available.

Other features...

Branded broker portal

Your brokers can log in to track their pipeline, submit applications & supporting documents and review commission payments.

Work queue automation

Automatically assign tasks and trigger reminders based on roles and business rules. Track application pipeline through configurable dashboards.

Push notifications

Keep your customers up-to-date, with automatic push notifications, email and SMS messaging.

Document management

Categorise and store supporting documents, manage templates & e-signatures, and generate & distribute documents.

Product configuration

Rate change management, dynamic pricing rules, fee management, product eligibility rules and product availability.

Branding & white label origination

Support for multiple brands on documentation, communication, workflows, products and customer/broker portals.

Sales channel management

Configure hierarchies of referral sources, including franchise networks, broker networks and marketing sources.

Also handles:

  • Open banking data aggregation
  • Identity and fraud checks (eKYC)
  • Comprehensive credit reporting
  • Multiple collateral classes

All tailored to your unique lending needs

Our solution architects will work directly with you to design, configure and integrate your origination solution. So it will fit your lending business like a glove, and continue to meet your needs as you grow.

With more than a twenty years’ experience in lending software, we have demonstrable industry knowledge and expertise, and can provide real insights on best practice. We know your process challenges, what frustrates a customer or annoys a staff member, what works and what doesn’t. We have a holistic view of the lending market, including trends, analysis and risk, plus we know all about your compliance obligations.

Just as importantly, we’ll continue supporting you, beyond the initial implementation. We’ll maintain regular communication, discussing the performance of your solution and its outcomes, and we’ll continue to refine your solution as per your requirements. (We’re continually updating the solution in line with regulation changes and industry best practice.)

Experienced, responsive, innovative

Loanworks is a market-leading provider specialising in proven technology solutions for customer on-boarding, loan origination, credit decisioning, document management, workflow orchestration, system integration, commission processing and business process outsourcing within the financial services industry.

APRA, ASIC, modern slavery & privacy compliance

Our software operations are compliant with the regulatory requirements set out by the Australian Prudential Regulation Authority (APRA), the Australian Modern Slavery Act (2018).

We have achieved ISO27001:2013 and SOC2 Report 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.

Case studies

Commissions software & back office services too

We also offer state-of-the-art commissions & broker admin software, as well as specialist financial back office services. Learn more below.