Adelaide Bank signs Sandstone Technology to deliver new loan origination system

Adelaide Bank has contracted Sandstone Technology to implement its new generation loan origination platform comprising the LendFast Product Origination system, Broker Gateway and Customer Care portal.

The third party mortgage market is a market that the Bendigo and Adelaide Group are committed to fully servicing and this new platform is set to deliver a superior experience to Adelaide Bank's third party originators and their customers. Adelaide Bank selected Sandstone Technology as their strategic platform partner following an extensive market scan and strategic review.

Throughout the process, Sandstone Technology and Adelaide Bank worked closely, drawing on market knowledge and deep lending experience to help maximise the service offering to loan origination partners to deliver a complete end to end solution.

Damian Percy, General Manager Third Party Lending says "Adelaide Bank is committed to providing exceptional service through our growing network of mortgage managers and brokers. The implementation of the LendFast loan origination system will deliver significant operational efficiencies as well as an enhanced customer experience."

"We are always looking to improve our processes and as part of the LendFast implementation, we expect to deliver a range of benefits to mortgage managers and brokers including a new document and case tracking portal, allowing them to quickly and easily upload documents and follow the progress of loan applications", Mr Percy concluded.

Bob Hall, CEO Sandstone Technology said, "Adelaide Bank has been a customer of Sandstone's since our inception over 18 years ago. Throughout the years, Adelaide Bank has been at the forefront of innovation and in keeping with this tradition, the implementation of LendFast will provide a streamlined and enhanced experience for the bank’s mortgage managers and brokers, along with their end customers."

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