Oracle and Nano Home Loans to Provide Australians with Smart, Simple, and Seamless Digital Onboarding 

4 minutes
New joint service fast tracks the disruption of the home loan market

SYDNEY, Australia – October 18, 2021 – Oracle Financial Services and Nano Home Loans have collaborated to help meet the increasing cost of home loan originations and improve customer experience. It is expected that customers will be able to secure a home loan approval within minutes, not weeks, as per the industry norm today. Nano has secured an innovation patent for its proprietary real-time loan application and decision-making technology and is now a member of Oracle PartnerNetwork. This means that jointly, Nano and Oracle, can meet the requirements for all Australian lenders ranging from tier-1 to tier-3 banks and non-bank lenders.

Australia’s digital home loans market is rapidly growing and it is expected to surpass $100 billion in the next five years, reshaping the overall industry. Nano Home Loans and Oracle Banking Platform delivers a rich customer experience, speed, certainty, and simplicity catering to both simple and complex home loans for consumer and SME customer segments.

“Combining Nano’s innovative and data-led credit onboarding with Oracle’s trusted and proven banking platform allows partner banks to realise the benefits of the digital mortgage revolution along with the scale and experience that comes from the world’s leading banking platform provider,” said Andrew Walker, co-founder and CEO, Nano Home Loans.

“Traditional banks struggle to keep up with the simplicity, cost efficiency, speed, and agility that digital lenders offer customers,” said Chaitanya Rastogi, general manager Australia and New Zealand, Oracle Financial Services. “We continually hear clients asking for innovative, cost-effective services to provide a better lending experience for their customers. The joint proposition can provide innovative and disruptive technology capabilities that can be utilised by lenders of all sizes, enabling them to differentiate, disrupt, and deliver an integrated world-class digital home ownership experience.”

An industry ripe for disruption

The Australian mortgage market continues to lack innovation with non-customer-centric products and complex processes. Industry reports show home-loan approvals can now take up to 24 days1 and 76% of Australians say the process is too long and complex2. For many traditional lenders, legacy platforms inhibit a 360-degree view of the customer, while proprietary closed technology prevents quick and seamless integration with leading vendors, whose products or services are specifically designed to complement the traditional mortgage process.

Together Oracle and Nano help solve these problems through superior digital technologies coupled with an open-architecture approach, progressive data decisioning, and complete process automation. Using origination-centric open APIs, the service aggregates data from trusted third-party sources and financial institutions, which helps to eliminate the need to gather and process countless documents.

The complete digital lending origination experience is purpose-built for the Australian market catering to all loan product types across multiple channels, to deliver:

  • A complete lending lifecycle approach from origination, servicing, and collections, via a single platform
  • A fast, innovative, and frictionless customer experience backed by Oracle’s globally tried and tested enterprise scalable platform
  • End-to-end seamless onboarding and automated decisioning that provides predictability and unmatched speed to market by using the power of data and sophisticated algorithms and design

Additional Information:

For more information on Oracle Banking visit: oracle.com/banking

References:

1. The Australian Financial Review, 14 August 2021, James Thomson, Cooling housing FOMO won’t be easy for APRA, RBA, https://www.afr.com/chanticleer/cooling-housing-fomo-won-t-be-easy-for-apra-rba-20210914-p58rh0

2. Pure Profile Research, March 2021, based on a sample size of 1000 people aged 18+

About Oracle Financial Services

Oracle Financial Services provides products and services for retail banking, corporate banking, payments, asset management, life insurance, annuities, and healthcare payers. With our comprehensive set of integrated digital and data platforms, banks and insurers are empowered to deliver next-generation financial services. We enable customer-centric transformation, support collaborative innovation, and drive efficiency. Our data and analytical platforms help financial institutions drive customer insight, integrate risk and finance, fight financial crime, and comply with regulations.

About Nano Home Loans

Nano is an Australian technology company that specialises in lending and digital loan origination solutions.

About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle’s partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork

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Contact Info

Judi Palmer

Oracle Corporate Communications

+ 1 650 784 7901

[email protected]

Rashmi Punjabi

Nano Home Loans

+61 466 658 475

[email protected]