Using the WebEquity solution, Suncorp has automated a considerable portion of its lending process, from loan origination, credit analysis and decisioning, to portfolio risk management. The software is giving Suncorp an unprecedented ability to consistently track and manage credits across its entire portfolio of Agriculture (Ag), Commercial & Industrial (C&I) and Commercial Real Estate (CRE) loans. The platform is helping the institution to reduce manual processes – and the errors associated with data entry – and gain visibility into more comprehensive information to support its commercial loan decisions and portfolio risk management throughout its 38 business centre network.
“WebEquity has proven to be an asset in helping us significantly improve our commercial lending processes and make more profitable credit decisions,” said Mark Harper, Executive Manager Business Lending Products, Suncorp Bank. “The platform’s open integration and on-demand model also complements our overall strategy-to embrace Web services and gain the operational efficiencies and competitive advantages the latest technology innovations have to offer.”
With WebEquity’s software, Suncorp is able to access a secure, centralized repository of its loan portfolio data anytime via an Internet connection. As a result, its staff can easily and efficiently share and manage loan information through the institution. The solution’s open architecture is also helping the lender drive even greater efficiencies, as it automates the flow of data with other systems, including Suncorp’s in-house core processing systems.
“Suncorp recognized that it needed to put a standard platform in place that would eliminate silos of information across its lending disciplines,” said Doug McGregor, CEO, WebEquity Solutions. “The bank turned to WebEquity to implement a system that would help ensure data accuracy and get the ease of information needed to better serve its customers, make sound credit decisions and proactively manage the risk of its portfolio.”