Car finance origination in under 15 minutes

Car finance origination in under 15 minutes

With the help of extensive digital technology use and its proprietary decision engine, LoanQ helps brokers and dealers originate car finance with ease.

Our goal is end-to-end loan origination in under 15 minutes, making the process seamless for LoanQ users and their customers.

These are some of the elements of LoanQ efficiency:

Guided quoting and application flows

LoanQ quote and application flows are designed to remove complexity and to ensure quickest possible results for user and customer.

Integrated services

LoanQ relies on a number of integrated services for a complete digital delivery. Some of these services are:

  • Glass's and PPSR car searches
  • Illion company and individual credit checks
  • Sensis phone, email and address validation
  • OCR Labs digital verification of identity
  • BASIQ banking data collection
  • DocuSign electronic signing
  • ABR for company and sole trader ABN look up

Decision engine

LoanQ utilises a sophisticated decision engine providing correct quoting and accurate lender selections. Extensive lender policy rules will display accurate and relevant product data for each scenario.

Customer engagement tools

LoanQ users can share a digital application form via Client Portal, allowing customers to complete loan application and upload required documents at home using mobile or desktop device.

Customers get a secure email link and a text message PIN to access the guided digital application form and upload required documents.

Compliance automation

LoanQ has relevant questionnaires, comment fields and disclosure sections to ensure application data is accompanied by the compliance documentation.

Customer expenses are compared to published HEM benchmarks and users get the dashboard showing risk snapshot for the deal.

Compliance documents are automatically produced and emailed to the client for electronic signing using DocuSign.

Integrated validation tools for identity checks, individual credit and company checks, and car searches ensure further compliance assurance and the prevention of fraud.

Lender integrations

LoanQ links to a number of lenders for an integrated lodgement. This means that the quote and application can be submitted to a lender in a single pass, without double data entry or a separate document upload being required.