Prospective home buyers can now benefit from a more simplified loan experience thanks to an integration of Bankwest and Lendi's assessment tools, enabled by the financial institution's first third-party API.
Lendi launched its Approval Confidence capability late last year which, via third-party integrations, indicated in real-time to potential borrowers the likelihood of the approval of loan options from its integrated lender partners.
Driven by the changing needs of customers in a digital world, Bankwest's integration was activated last week and enabled the Lendi platform to directly engage its assessment tools with Bankwest's decision engines to surface more relevant results for users.
The integration offers reassurance for potential borrowers by presenting them with an Approval Confidence rating with tailored loan options, rather than the generalised product listings available on many comparison sites.
Bankwest Head of Third Party Banking Ian Rakhit said: "This is a great result for customers using the Lendi platform, as they now have a higher degree of certainty in their home buying journey.
"Taking out a mortgage is one of the biggest financial decisions of someone's life and it can be a complicated process, so it's important for us to simplify that process where we can.
"When we talk about meeting changing customer needs in the digital age, these are the solutions we're talking about, because gone are the days of generic information being acceptable.
"That's what has driven this partnership with Lendi: understanding that when customers provide their personal financial information to an assessment tool, they expect personalised results."
The rapid development of the API, accelerated by Bankwest's transformation to an agile operating model, was enabled by the power of the institution's Cloud Native Platform (CNP) investment, which allows the development of new technology quickly and safely, in response to the changing external environment, while keeping customer data secure.
Bankwest EGM Technology and Transformation Andy Weir said: "We're one of the first financial institutions in Australia to invest in a Cloud Native Platform that enables us to quickly build innovative technology like this and we look forward to continuing to harness its power to rapidly deliver value for customers."
Lendi Co-Founder and Managing Director David Hyman said: "We are thrilled to have Bankwest on board as an Approval Confidence lender partner.
"This is another step in our mission to drive the best possible customer outcomes by offering more choice, transparency and certainty in the home loan process."