Adelaide Bank transforms technology platform

Adelaide Bank is transforming its technology to simplify the loan process for brokers.

Adelaide Bank general manager of third-party banking Darren Kasehagen (pictured) said the bank had improved some key processes to upgrade its broker and customer experience through an end-to-end transformation.

“We have simplified Digital ID for our next generation of brokers, our living expense/declared living expense process and simplified our ordering of valuations process which we hope to see automated valuations coming through soon,” Kasehagen said.

“As we progress through the transformation, we are trying to make it as easy for our customers and our brokers to work with us as possible. We want to make ourselves a better bank, and if it doesn’t improve the customer experience then we are not doing the right work at the right time.”

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Kasehagen said the bank wanted to modernise and was looking to slowly remove the legacy systems that had been in operation for many years.

“As we go through that process, we hope the outcome for the broker and customer is we will see an automation at a level that we haven’t seen before,” he said.

“We are hoping for the assessment of at least 50% of the loans that come to us significantly reduces our time to say yes and getting an application processed end to end in one or two days.”

Adelaide Bank, which is part of the Bendigo and Adelaide Group, is also simplifying its policies and processes in the back office.

“We want it harmonised to match what will be a new and improved end-to-end platform for our clients,” Kasehagen said.

“We are also implementing a CRM system which will help us get more clear data to our brokers and their businesses by providing information directly to them.”

Adelaide Bank head of broker distribution Raj Kapoor (pictured below) said he understood brokers wanted certainty and consistency from them, as the more they provided this the more brokers would like to deal with them.

“One way we combat this is by engaging one case assessor who will be the first person to pick up the file, the only one dealing with the broker and will be responsible for the end-to-end process,” Kapoor said.

“That way the broker gets the consistency from us and the information required will only come from one person as a streamlined approach.”

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Kapoor said Adelaide Bank wanted to give brokers the experience of feeling like they were dealing with someone who cared about their business.

“We have almost tripled the size of our BDM team in recent years,” Kapoor said.

“We have more support across the country with one of our key focuses of getting back on the road to provide our broker partners with better outcomes for their businesses. We have also introduced new support roles within the BDM team and have launched a web chat platform for our brokers to contact us online.”

Kapoor said the bank worked with its brokers to support their clients.

“We ensure we are picking up a clients’ file within the same day of it arriving to us,” he said.

“We have a really good value proposition and a minimum turnaround time for our brokers. We also have the ability of being able to complete a valuation off the contract of sale price rather than ordering another valuation which saves precious time.”

Kapoor said the bank was excited to return to its lunch and learn sessions with its broker network.

“I find them immensely valuable sitting down with brokers and hearing first-hand their feedback and how we can work together better,” he said.

“The lunches are valuable because we listen to our brokers and take their feedback onboard for the processes we are building and growing. After not being able to hold these over the last two years, I cannot wait to get back out on the road.”

Adelaide Bank currently hosts the sessions in capital cities across the country and is planning on launching more sessions in regional areas in the coming months.