The trial will streamline the delivery and recovery of loan documents in NSW, South Australia and Victoria, allowing home owners to submit completed loan contracts online.

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The platform, developed by Gaililee Solicitors, enables a fully digital delivery, completion and return of loan contracts and mortgages.

Additionally, it reduces the chance for error in signing documents and provides a quicker time frame to reach settlement.

The regulatory environment in NSW, South Australia and Victoria will allow refinance customers to reap the benefits of the platform; however, further legislation is needed to expand to more states.

Chief executive of Gateway Bank Lexi Airey said the transformation of back-office processes is an constantly evolving project.

“Customer-centricity is at the core of our organisation and service simplification will have a positive flow-on effect both for our valued members and our staff,” Ms Airey said.

Managing partner at Gaililee Solicitors Cordell Smith said that the solution brought mortgages into the twenty-first century and reduced hurdles for customers.

“Recent changes to NSW legislation that enable electronic witnessing, align with existing Victorian and South Australian capabilities, and probably represent a new beginning for the mortgage lending industry,” Mr Smith said.

 

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