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MyState Limited has announced that it has selected NextGen’s AppCentre platform to replace its previous lending origination system, Sandstone Technology’s LendFast platform.
The new platform will combine MyState Bank and Auswide Bank lending systems into ”a single, intelligent workflow”, integrating directly with the bank’s core systems, while maintaining the distinct brand experiences.
The group – which now serves over 275,000 customers across Australia’s eastern seaboard, with a combined home loan book of $12.9 billion and $10.1 billion in customer deposits – already has a relationship with NextGen through its broker submission platform, with brokers submitting loans to the lending group via the ApplyOnline origination platform.
The move to the AppCentre platform aims to deliver an end-to-end loan origination system that will help drive faster decisions, smarter automation, and a more seamless experience for brokers and customers across the business.
The change aims to help streamline the lending process from application through to settlement by reducing manual steps and improving data accuracy.
It will reportedly help bring about same-day unconditional approvals, faster credit decisions, and “a more connected digital experience” across all channels.
The new lending platform will support the merged bank’s growth strategy, which is about delivering improved service to brokers and customers, while driving operational efficiency and scalability.
Brett Morgan, CEO of MyState Ltd, said the system will significantly improve the broker experience.
“Our goal is simple – to make it faster and easier for brokers to do business with us, and to deliver a better, more consistent experience for customers,” he said.
“Brokers are at the heart of how we grow, particularly across the eastern seaboard where we don’t have a branch presence.
“This is a platform built for growth.
“It will allow us to serve more brokers and customers, more efficiently, while staying true to the values that define us – local relationships, personal service, and trust.”
Mike Ponsonby, head of lender partnerships at NextGen, said: “Being selected as MyState’s critical technology partner is a significant milestone that reinforces our position as the go-to partner for financial institutions pursuing merger strategies. We understand this is one of MyState’s most important strategic decisions – one that will influence their asset growth trajectory and strengthen their position with broker partners.
“Our ApplyOnline solution delivers a digital-first, human-by-exception experience that drives material productivity improvements while ensuring operational continuity across both brands.
“Our focus is on creating lending experiences that wow staff and customers alike – where technology feels seamless and enables both brands to differentiate themselves in their communities.
“This partnership with MyState Group demonstrates our commitment to supporting regional banks and mutual institutions with enterprise-grade lending origination technology that delivers one platform, consistent processes, and superior revenue returns through broker adoption and operational efficiency. For any mutual or regional lender exploring merger opportunities, NextGen brings the proven expertise and technology platform to make those integrations successful.”
[Related: ‘Business as usual’ for MyState and Auswide following merger]