Leading non-bank lender Pepper Money is the first non-bank giving Australian borrowers and brokers access to Lendi Group’s Approval Confidence – a global first technology.
The capability, which is unique to Lendi Group, connects directly with the internal decision engines of multiple banks, and now with the first non-bank Pepper Money, to indicate the likelihood of the approval of loan options from the Group’s lender partners in real-time.
The system provides customers and their broker with an easy-to-understand rating on potentially suitable Pepper Money loan options without impacting the borrower’s credit score. While the ratings are not a guarantee of approval, they are designed to estimate the likelihood of approval of a borrower’s loan application.
Lendi Group’s Approval Confidence technology indicates the likelihood of a customer’s ability to achieve full approval on the loan, helping the customer select the loan option that will most likely fit their situation and therefore achieve approval faster. It assesses the borrower’s credit profile and personal information, allowing Pepper Money to respond to the customer within seconds through Lendi’s proprietary platform.
Barry Saoud, General Manager, Mortgages and Commercial Lending at Pepper Money said, “Pepper Money has partnered with Lendi Group and their innovative Approval Confidence technology to empower a more diverse set of Australian borrowers with certainty when applying for a loan.
“For Pepper Money, the integration means more borrower segments with unique circumstances, will have a greater sense of certainty and confidence when they’re looking at their home loan options available to them through the Lendi Group network.
“We know both borrowers and brokers want a flexible, fast, and transparent loan application process with no surprises. That’s why our real-life lending approach coupled with Lendi Group’s Approval Confidence technology is another way we are giving more Australians access to options and the confidence to start their home loan journey with us.”
“Plugging into industry leading platforms and investing in our own digital capabilities has been key to delivering great outcomes for our broker partners, their customers, and the ongoing success of Pepper Money – ensuring we maintain our market-leading value proposition in the lending landscape,” he said.
Lendi Group is incredibly proud of its Approval Confidence capability, which gives brokers and customers a real-time indication of whether their loan will be approved.
Brad Cramb, CEO of Distribution at Lendi Group said, “We’re thrilled to have Pepper Money on board as the first non-bank lender to integrate with our market leading Approval Confidence capability.”
“We know people can feel overwhelmed and vulnerable throughout the home loan process and we are helping to rectify this by giving borrowers more information and a greater sense of certainty without jeopardising their credit score,” he added.
A key strategic focus for the Lendi Group currently is to support the Aussie Broker Network to be ready for the rollout of Lendi’s world-class technology platform in 2022. As Aussie brokers are rolled onto the platform, they will get access to Approval Confidence as well, under the Aussie brand. Lendi Group has already introduced highly effective tech upgrades into Aussie’s systems and is piloting a number of different programs with a select group of brokers to drive process innovation that will deliver big benefits for Aussie brokers in the long run – automating many routine, manual tasks for brokers and allowing them to focus on richer interactions with their customers.
Currently there are five lenders on the Approval Confidence panel, including ANZ, Bankwest, and Adelaide Bank, and now Pepper Money, with more in the pipeline.
Senior Marketing Communications Manager
0412 033 103