How Australian financial specialist increased broker uptake by 30% and Cuts Loan Processing Time by 50%

Challenge

Our client identified a critical gap in its loan application process. While many brokers were using existing digital channels, a significant portion continued to submit applications manually via email or other offline methods. This approach created multiple inefficiencies for the credit team, who were required to manually enter loan details into the system and verify that the correct documentation had been provided. Incomplete applications and missing documents were common, leading to repeated back-and-forth communication between brokers and the credit team. This not only delayed loan processing but also placed an unnecessary administrative burden on staff, diverting time and resources away from higher-value tasks. Over time, the inconsistent submission process risked affecting turnaround times, broker satisfaction, and overall operational efficiency.

Solution

9X5 Consulting partnered with our client to design and implement a new Broker Portal to streamline loan application submission and reduce manual processing. The solution introduced a lean, intuitive application form within the Broker Portal, ensuring that brokers could submit applications quickly and accurately. Mandatory document submission rules were built in, automatically adjusting requirements based on the details of each loan, ensuring complete and compliant applications from the outset. The system was integrated with our client’s Financial’s ECF platform for secure and organised document storage. Email notifications were introduced to provide instant confirmation of submissions, improving communication and transparency for brokers. This approach not only simplified the process for brokers but also reduced the operational burden on the credit team.

Impact

By partnering with 9×5 Consulting, the new Broker Portal is anticipated to increase broker uptake by 30% through its improved ease of use and streamlined workflow. Loan processing times are expected to reduce by up to 50%, freeing up the credit team to focus on more complex and value-adding tasks. By replacing manual processes with a fully integrated, user-friendly system, our client’s Financial is better positioned to handle increased loan volumes efficiently and deliver a faster, more consistent experience for brokers and customers alike.