We are pleased to announce that loans.com.au has been recognised as an ABA100 Winner in The Australian Brand Awards 2017 for Product Innovation, for our groundbreaking onTrack loan application portal.
Currently in their inaugural year, The Australian Brand Awards have been established to identify, recognise and reward Australia’s most innovative consumer products.
CEO Marie Mortimer said the award acknowledged loans.com.au’s achievements in the research and development of onTrack. "onTrack has disrupted the Australian lending market, allowing us to offer cheaper, more convenient loans through end-to-end online processing,” Ms Mortimer said.
“We are very proud that the years of work our in-house IT development team spent building onTrack has been recognised with our naming as an ABA100 Winner for Product Innovation."
Ms Mortimer said loans.com.au’s focus on online lending, including the development of onTrack, had been central to its rapid growth from zero to $4 billion in loans under management in just six years, because it was more convenient for borrowers and allowed loans.com.au to offer cheaper interest rates.
onTrack is unique in the Australian market because it allows borrowers to complete a car or home loan application entirely on their mobile device or computer from initial contact through to settlement and registration for online services.
The tool allows users to download all required forms and documents, book a valuation of their property online and securely submit the forms and supporting documents online at a time of their choosing. The platform was developed entirely in-house by loans.com.au’s IT development team.
ABA Awards Program Director, Ms Tara Johnston, said onTrack was an example of the innovation that was vital in today’s competitive market.
“Today, consumer product companies face ongoing challenges and innovation is key for companies to differentiate themselves from competitors,” Ms Johnston said.
“Companies that design for consumer behaviour and develop organisational capabilities to drive their innovation activities are more likely to succeed in the marketplace”.
“The Australian Brand Awards are proud to acknowledge the role of these innovative consumer product companies for implementing well-managed industry leading initiatives and for the research and development of high-performing products and services.”
Loans.com.au provides innovative online finance products backed by Firstmac, Australia’s largest non-bank lender, with 38 years’ experience and $8 billion in mortgages under management.