RedZed partners with NextGen to elevate mortgage lodgement process

In conjunction with NextGen, Australia’s leading mortgage technology provider, RedZed will soon offer brokers the option of electronic lodgements for residential applications via ApplyOnline^®, the industry’s largest and most utilised broker application lodgement platform.

RedZed is a lender committed to supporting and empowering small business owners and the self-employed with flexible finance solutions. They are also committed to supporting brokers and further improving operational efficiencies to deliver even better experiences. The introduction of ApplyOnline for digital loan applications is a significant milestone for RedZed and reinforces the lender’s commitment to enhancing the mortgage application process for their broker partners.

Established in 2006, RedZed has loaned over $9.7 billion to more than 23,000 self-employed Australians via residential, commercial and SMSF finance solutions, empowering small business owners to achieve their personal and business finance goals. Recognising the need to streamline its lodgement capabilities for residential applications, RedZed sought to implement cutting-edge technology that aligns with industry standards and provides greater choice for their brokers.

“One of RedZed’s strategic objectives is to be the partner of choice for brokers and aggregators and to provide a best-in-class experience for our self-employed customers,” said Calvin Cordle, Managing Director of RedZed.

“Partnering with NextGen allows us to enhance our mortgage lodgement process, ensuring it remains simple, fast, and fair for our brokers and customers.”

The adoption of ApplyOnline will enable brokers to electronically submit loan applications, streamline the submission of supporting documents, and receive efficient assessment of loan applications. Additionally, RedZed will leverage NextGen’s advanced technology to receive a feed of submitted loan application data and documents into their lender system, streamlining the entire process from application to approval.

“We are thrilled to collaborate with RedZed to empower brokers and enhance their efficiency in the mortgage application process,” said Mike Ponsonby, Head of Lender Partnerships at NextGen. “This partnership underscores RedZed’s commitment to providing brokers with the best tools and resources available in the market.”

As part of the partnership, RedZed has also enabled a range of additional efficiency tools for brokers, including NextGen’s industry-aligned compliance tab, eSign for electronic signatures, NextGenID for digital verification of applicant identity, as well as broker-ordered valuations from ApplyOnline.

“We are proud to support RedZed in their commitment to the broker channel, offering home loan products in a quality and streamlined way.”

RedZed home loans will be available in ApplyOnline from November 20, 2024.