Bendigo Lending Platform reaches $10 billion landmark

BENDIGO Bank’s two-year-old lending platform – the Bendigo Lending Platform – has just surpassed ten billion dollars in loan applications, a milestone billed by the bank as highlighting its strong customer focus and continued commitment to innovation.

The Platform was at first made exclusively available to mortgage brokers and is now being rolled out to the organisation’s Australia-wide retail network.

CEO Richard Fennell said the success of the offering is just the latest example in the bank’s long history of innovation, which has also included its Community Bank model, green loans, digital mortgages and Australia’s “first and best” mobile-only digital bank, Up.

“This achievement demonstrates Bendigo Bank’s commitment to making life easier for our 2.9 million customers with digital (technologies),” he said.

“We are proud of the Bendigo Lending Platform, which ensures our partners, people and home loan customers enjoy a seamless and efficient home lending experience.

“Following the successful onboarding of the Bank’s broker partners, the roll out of the platform to our branches across Australia will help even more customers buy a home, while also reducing in branch wait times for all customers.

“Our lenders are reporting that the experience has improved significantly for our customers with conditional approval being achieved in an average of five minutes from (an) application submission.

“Our customers and partners are looking for an efficient digital experience that saves them time and provides fast, clear outcomes (and) the Lending Platform delivers this and will support us as we execute on our 2030 strategy.”