Electronic applications, automated decisions, credit underwriting, instant approvals and B2B links are now a reality in funding systems.
WorldOriginate is Australia's best loan origination system. With features and benefits the competition can't match, explore the advantages WorldOriginate can deliver your business...
Direct Business Advantages
- Generate more loans and happier customers! WorldOriginate is a complete automated underwriting platform, delivering decisions to customers in less than 10 seconds.
- Quickly allows lenders to accept electronic applications.
- Minimises underwriting costs by reducing the time and effort required by lenders to assess and issue an approval.
- Reduces risks inherent in building automated underwriting systems in-house.
- Improves accuracy and quality of applications.
- Higher application to settlement conversion.
- A proven system lenders can be confident in. Over $20 billion of applications processed.
- Reduces fraud possibilities via direct integration with credit reports and valuers.
- Reliably moves assessment activity closer to the point of sale.
- Reduces portfolio risk by applying consistent assessment guidelines.
- Empowers lenders to provide improved customer service.
Service levels and operational advantages
- Reduces the underwriting decision from hours to seconds. It takes under 10 seconds for WorldOriginate to make a detailed assessment of a loan.
- Increases underwriter efficiency and quality.
- Improves service levels – underwriters have more time to contact and service customers.
- Vast majority of loans can be processed without underwriter intervention, giving underwriters time to focus on the exceptional, higher risk applications.
- Reduces processing bottlenecks for customers. Underwriting is now available 24/7.
- Enables consistent underwriting. Automated workflows reduce human error.
- Improves organisation and time management with Automated Workflow and RequirementsManagement.
- Reduces double handling – Applications can be re-processed without lender involvement.
- Increases flexibility - quickly change and enforce underwriting guidelines.
- Improves communication with brokers through automated SMS and email correspondence.
Technology advantages
- Minimal infrastructure setup costs – includes Stargate hosting, load balancing, disaster recovery, data storage, application security and escrow.
- Integration with existing legacy/core lending systems to achieve straight-through processing.
- LIXI support - origination and broker channels can submit applications from third party platforms.
- Internet based for easy distribution - access from branches, states, even countries.
- Streamlined processing though vendor integration – solicitors, valuers, title insurers, trustees.
