AMP Bank today announces the transformation of its home loan application process to equip brokers with a market-leading home loan experience. 

AMP Bank is partnering with leading technology provider Simpology to deliver an end-to-end home loan application journey which will fast-track ‘time to yes’, provide a superior broker experience, and give greater visibility and certainty of an application from submission to settlement.

The solution will utilise Simpology’s latest technology platform with bespoke journeys designed and configured for AMP Bank. A pilot will run through select aggregator/s in Q4 2024, before full launch in Q2 2025.

The solution is being delivered through existing funding and will provide future efficiencies for AMP Bank.

Streamlined lending experience 

New capabilities across data, digital and automation will enable the Bank to provide a streamlined experience which brings real-time decisioning and updates to brokers’ fingertips. AMP Bank will continue to partner with new and existing third-party experts from across the industry to leverage the latest technology to deliver its end-to-end home loan application journey.

AMP Bank's new loan process will include fully digitised identification processes, up-front verification of credit-critical data prior to submission, and instant feedback on application data to allow real-time decisions. This combined with the solution’s straight-through processing capability and simplified business rules, will enable market-leading approval times and give brokers more confidence in the application’s outcome from the outset. 

Benefits to brokers

Broker experience is central to AMP Bank’s home loan application experience, which will provide convenient digital engagement between broker and lender.

Through this new solution, brokers will have access via any device to a secure online portal with transparent self-service, for example integrated information requests and live status updates. This addresses a common pain point felt by brokers in not having a clear view of an application’s progress once submitted, giving brokers certainty, and putting them back in control throughout the application journey.

The investment in broker experience and technology supports AMP Bank’s aspirations to be a leading digital bank and to help more Australians achieve their wealth ambitions. 

Sean O’Malley, Group Executive, AMP Bank said:

“I am pleased to announce our strategic partnership with Simpology to help AMP Bank transform its home loan journey and provide a market-leading standard in service excellence for our brokers and their customers.”

Melissa Christy, Head of Lending Origination, AMP Bank said:

“AMP Bank’s new home loan experience will fast-track turnaround times and bring brokers closer to decisions and outcomes, giving them self-serve capability and transparency throughout the home loan application.

“We’re committed to building leading digital solutions which enhance broker experience and give us the agility, flexibility, and scalability to meet the banking needs and expectations of the customer of tomorrow.” 

Kate Gubbins, Simpology Founder and CEO said:

“Simpology is excited to be partnering with AMP Bank on the transformation of its home loan application experience.

“Simpology’s new origination ecosystem aligns with AMP Bank’s ambitions of supporting their brokers and customers with great experiences and speedy outcomes. AMP Bank’s commitment to excellence and challenging the status quo makes them the perfect partner to bring to life the capabilities of our platform.”

About Simpology

Simpology is an Australian technology company focused on making the mortgage application process more efficient. Simpology is based in Sydney and provides mortgage origination solutions to over 30 lending partners and the mortgage broker and aggregator. Simpology’s powerful home loan application ecosystem provides an end-to-end journey and includes products such as broker lodgement, full origination/workflow and product, serviceability and decisioning engines.

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