There are often bottlenecks that delay approvals, from chasing clients for paperwork to navigating lender portals. To help you streamline the process and speed things up, here are five practical tips, with Financeable + Mercury Nexus offering powerful solutions to each.
1. Keep Lender Rates and Policies in One Place
Tip: Instead of memorising or tracking multiple lender rate cards and policies, consolidate everything into a single source.
Solution: With Financeable, you can access real-time lender rates and policy updates all in one place. The platform automatically compares the lender’s criteria with your client’s profile, ensuring that you always know which lender has the best product fit for your customer. This eliminates the need for you to remember or keep up-to-date with constantly changing rate cards and policy updates.
2. Automate Data Collection for Faster Applications
Tip: Stop wasting hours jumping between websites or manually entering data for each application. Automate the data collection process to save time and reduce errors.
Solution: Financeable connects directly with data sources like Equifax, Illion, ASIC, Glasses Guide, and PPSR, and auto-populates most of the application details for you. With just a few clicks, you can complete an application in minutes, not days. This automation allows you to gather the necessary information quickly and accurately, so you can focus on building your client base and growing your business.
3. Submit Directly to Lenders with One Click
Tip: Eliminate the need to re-enter data into multiple lender portals by submitting applications directly through your platform.
Solution: With Financeable + Mercury Nexus, you’re connected to over 20 major lenders, and you can lodge an application with just one click. No more data duplication—if your first application gets declined, simply select the next lender and submit again, all without needing to re-enter the information. This drastically speeds up the application process, allowing you to submit applications to multiple lenders in minutes.
4. Streamline Communication and Reduce Back-and-Forth
Tip: Cut down on the back-and-forth communication between you, your clients, and lenders by automating document submission and status updates.
Solution: Financeable provides a platform where clients can upload required documents directly, and lenders have instant access to all the necessary financial data. With automated status updates and notifications, everyone stays informed in real time—reducing the need for constant phone calls or emails. This keeps the process moving forward without unnecessary delays or confusion.
5. Ensure Secure Digital ID Verification
Tip: Protect yourself from ID fraud and ensure you’re dealing with legitimate clients by verifying their identity upfront.
Solution: Financeable integrates Digital ID Verification through OCR Labs, a game changer for brokers dealing with new clients. In an industry where ID theft is a major risk, having built-in digital ID verification gives brokers peace of mind that they are dealing with legitimate applicants. This extra layer of security protects both you and your lenders, making the approval process safer and more reliable.
Final Thoughts
By implementing these tips and leveraging the power of Financeable + Mercury Nexus, you can speed up the asset finance approval process and ensure a smoother, faster experience for both you and your clients.
In a fast-paced industry like asset finance, automation and integration are key. By simplifying manual tasks, improving communication, and strengthening fraud prevention, you’ll be able to close more deals in less time, ultimately boosting your business’s success.
