CUA partners with Sandstone Technology to transform home lending
September 11, 2019 | Press Release
Australia’s largest credit union, CUA, will partner with Sandstone Technology to deliver a complete end-to-end mortgage processing solution.
Member-owned lender CUA will progressively implement Sandstone’s digital origination platform to initiate and process home loan applications originated via mortgage brokers and CUA’s organic channels – including digital, call centre and branch channels – for new and existing CUA members.
CUA has partnered with Sandstone Technology to deliver an enhanced lending experience and improve the scalability of its business.
Liam Crehan, Sandstone Technology’s GM of Lending commented, “It’s very exciting to have the opportunity to work with one of the leading brands in the home lending market and leverage our many years of experience and specialist team to help CUA transform its business, reduce processing times and ultimately delight its members.”
“Sandstone Technology’s fourth generation origination platform uses the latest technologies and will bring CUA a truly integrated origination solution that provides full automation, process optimisation and smart decisioning using artificial intelligence and machine learning.”
CUA Chief of Transformation & Subsidiaries, Steve Chugg, said “CUA’s investment in our lending origination system is a strategic focus for CUA which will help enhance member experience and enable CUA to more efficiently scale our business into the future.”
“CUA recognises the need to continue investing in technology and systems for the benefit of our members. This new lending origination system will transform our end-to-end lending process and delivering a step change in simplifying the home loan journey for our members,” he said.
“The needs and expectations of home owners and property investors are changing. We need to invest in the lending origination capabilities that will provide a more seamless digital experience, across our various member touchpoints. Collaborating with the specialist team at Sandstone will allow us to bring these capabilities to market more quickly than we could on our own, ensuring we remain relevant to current and future generations of home buyers.”
CUA will be rolling out the solution across its lending channels over the coming 12 months, with broker-originated loans expected to be the first applications put through the system in early 2020.
For all media enquiries:
Jennifer Harris – Marketing and Communications Manager
P: +61 2 9911 7165
Laurel-Lee Blain – Senior Manager, External Communications
P: +61 2 9323 8095
About Sandstone Technology
For over 20 years, Sandstone Technology has been at the forefront of innovation in the banking sector. Having evolved alongside the industry, our technology solutions are now used and trusted by financial institutions across Australia, New Zealand, Asia and the United Kingdom. With solutions ranging from digital acquisition, loan origination and digital banking, Sandstone Technology can offer a true end-to-end digital transformation experience for your customers.
CUA is Australia’s largest credit union, contributing to the financial wellbeing of around 550,000 Australians through our banking, insurance and health insurance offers. As a mutual, CUA was created by members for members and cares for them through the changes and challenges in their lives. CUA’s growth and success enables the mutual to reinvest in its business, deepen relationships with members and build stronger communities. For more information, visit www.cua.com.au