Automation tools for brokers launched

HSBC has announced the launch of its new Mortgage Portal, aimed at providing brokers with instant pricing and simple access to information from one centralised location.

The portal offers automated benefits such as an automated pricing tool to allow brokers to gain access to instant pricing decisions for new and existing loans, along with the ability to escalate if need be.

According to HSBC, instant pricing that’s approved will be sent straight to origination systems using application programming interface (API) technology.

Additionally, the Mortgage Portal offers enhanced access to product information in regard to policies, procedures, products, calculators, and turnaround times within a simplified layout along with improved search functionality.

Brokers can also have a clear view of all applications and settled loans through HSBC’s portal, with the ability to access a “high-level” overview of all active applications that include information on loans and securities, rates, and status tracking.

The portal also provides brokers with details on products, interest rates, repayment amounts, frequency, and loan terms and can raise new pricing requests for settled loans.

Head of channels at HSBC Australia, Christine Artin, commented on the launch of Mortgage Portal: “We are committed to providing the best tools to enhance the experience for brokers and customers.

“With more Australians using a broker to secure their home loans, it’s never been more important to help brokers achieve more in less time, and at HSBC, we are here to help them.

“The feedback from brokers who have piloted Mortgage Portal over the last few months have been extremely positive. They have called out how easy it is to find detailed client information and do pricing all within the same part of the platform.”

The Mortgage Portal’s launch comes as Australian Finance Group (AFG) also unveiled its new broker platform, BrokerEngine Plus, developed for its network of more than 4,000 mortgage brokers.

Built on its BrokerEngine platform, BrokerEngine Plus has introduced automated submission to ApplyOnline, thus eliminating redundant data entry while simplifying operations and team workflow.

Along with this, the platform boasts a reduction in loan processing time of up to 90 minutes per deal.

Them Lam, AFG’s head of sales and distribution, said: “BrokerEngine Plus could save brokers thousands of hours each year on administration tasks, freeing them to focus on other higher value activities within their business.”

Additionally, chief digital officer at AFG, Sam McCready, said: “We have re-looked at every part of the loan application and lodgement process with the view that every minute we save a broker directly translates into saving them money and to retain customers by delivering an improved experience.”

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Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.