Funding.com.au launches market first bridging loan quote technology

Gold Coast-based fintech Funding.com.au has launched its new instant quote tool, which allows customers to get an instant quote for a loan with the digital bridging lender in real time. It’s a market first in the space and a game changer for borrowers and brokers looking for a quick bridging solution.

“This is the next step in delivering a completely online, end to end, digital experience for our customers,” shared Funding’s Founder and Chief Executive Officer, Jack O’Reilly. “Customers are looking for a fast digital process that they can drive, now they can get an instant quote on their interest rate, fees and charges, and complete the application online themselves.”

“Our dedicated lending team is also available to assist customers who want us to help them through the process, and now this market first gives the customer an instant quote followed by a settlement within days,” continued O’Reilly.

Bridging loans have traditionally involved a long and tedious process that involves full documentation and a terrible customer experience, including unclear fees, charges and changing interest rates. “At Funding, our primary focus is a smooth and seamless customer experience,” said Steven Brown, Funding’s Head of Technology.

“The instant quote uses key client and property data, using proprietary algorithms. We have been delivering market leading tools for our customers and brokers for some time, so now providing the ability to instantly quote on loans and complete their application online is an important step for our technology strategy and vision.”

Funding.com.au offers an online digital process for direct customers, a dedicated portal for Brokers, and there’s no need for full documentation. Brokers are accredited within an hour, can get conditional approval in two hours, and achieve settlement within three to five days.

“At Funding we use technology to enhance processes, in the last 6 months we have launched an online broker accreditation, our broker portal, integrated our application process with aggregators and launched our new website,” continued Brown. “After our successful brand relaunch and TV commercial, launching our automated quoting for our bridging, business and building loans have helped us revolutionise short-term, property secured bridging lending and allows us to fund loans within a matter of days.’’

The company has scaled up its direct and broker channels including a national TV commercial and brand campaign and has seen record growth including more than $7 billion in applications for more than 7,000 customers across Australia to become the leading digital lender in bridging loans.