AMP Bank has launched Digital eSignatures (eSign) for loan applications and from 21 March will provide Comprehensive Credit Report functionality, as it continues to invest in technology that simplifies and speeds up the home loan approval process for brokers, advisers, and their customers.

The eSign functionality allows customers to sign their application form and borrower interview guide online. This is in addition to the electronic signing feature already available for loan documents. Powered by NextGen and First Mortgage Services, eSign eliminates the need to print and physically sign documents and removes manual verification by AMP Bank.

The Comprehensive Credit Report ‘Access Seeker’ service provided by Equifax and NextGen, will give upfront visibility of customer liabilities without impacting the customer’s credit file. The Bank’s application portal, ApplyOnline, will flag information missing from an application, helping our brokers, advisers, and customers to submit more accurate, complete, and timely applications.

This new capability follows enhancements to AMP Bank’s auto credit decisioning engine, which has seen a 75 per cent improvement in the automated decisioning rate, resulting in faster, more consistent approvals.

Sean O’Malley, AMP Bank Group Executive said:

“The new functionality is another important step forward for AMP Bank to simplify and improve the lending experience for brokers and advisers. Both eSign and the new Comprehensive Credit Reports will make it easier and quicker to originate and approve loans with AMP Bank.

“The technology reflects AMP’s ongoing strategic investments to enhance AMP Bank’s systems, and commitment to further reduce loan approval times and increase home loan origination capacity, which increased by 70 per cent last year.

“Our focus this year is to further digitise and automate lending processes, which will continue to make it easier for brokers, advisers and customers to do business with us.”

_{The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.}