Online system for loans launched by Shawbrook
Shawbrook Bank has launched a secured lending system that will allow its intermediary partners to securely submit all necessary documentation electronically, Maeve Ward has said.
The bank, which launched in October 2011, offers loans secured on property, asset finance and savings products for business customers, in addition to savings, secured loans and home improvement loans to personal customers.
Ms Ward, the bank’s head of sales, said the new ‘front-end’ system for secured lending would allow advisers and brokers to avoid using a manual system of scanning documents and submitting them by email.
The new system will also allow Shawbrook to gather data around recurring market trends and ensure products were continually improved in line with the demands and needs of the market.
The technology is the first stage in the development of a secured loan platform that will allow intermediary partners to quote, process and submit full cases online for Shawbrook’s underwriting team.
Ms Ward added: “We’re very proud of our progressive culture at Shawbrook, and since we launched we’ve continually worked to improve our products and systems.
“We know how important an efficient, streamlined system is for our broker partners and the crucial role it can play in securing business from the market.
“We are very excited about the new system and the difference it will make to our partners, but we’re not resting on our laurels and are already in the process of developing a wing-to-wing secured loan platform that will ensure the journey from quoting and processing to submitting full cases online is completely seamless.”