A customer-owned bank serving members for over 60 years
Qudos Bank was founded over 60 years ago as Qantas Credit Union until it was rebranded in 2016. Qudos Bank is now one of Australia’s largest customer-owned banks with over $5 billion in assets and branches in Sydney, Melbourne and Brisbane.
As a proud member of the Customer Owned Banking Association (COBA), Qudos Bank believes in doing the right thing for their customers and community, and in the power of people coming together to pursue financial freedom.
Choosing a new loan origination system
Qudos Bank were looking to implement a new automated Loan Origination system to improve back-office loan processing times and ensure better, faster decision making.
As noted in the July 2022 “Catch Up With Michael” article :
Our new Lending Origination System (LOS) aims to reduce friction in the application experience and support faster turnaround times by digitising, streamlining, and automating the lending process.
We’ve focused on addressing some of the key pain points for customers including digital ID verification, extraction of income and expense information, mortgage insurance integration and so much more. Plus, customers will be able to track their application process in real-time via the tracking portal.
A neutral market scan to find the right fit
Digizoo worked with Qudos to define the business and technical requirement for the new Loan Origination system, performing the role of a trusted neutral advisor to outline detailed criteria, followed by a market scan of vendor options.
Our team then worked with Qudos’s business and IT teams to validate and assess the respondents and then determine the best product fit, with identification of solution gaps and determination of the best strategies to address them in the context of the environmental limitations of the existing operating environment.
A confident, well-scoped path to implementation
Our neutral, vendor independent, approach was highly valued in selecting the solution that best suited Qudos’s requirements and budget, and they were able to enter into implementation with a better understanding of the peripheral work that needed to be done for a successful implementation.
