Finova has introduced two new upgrades to its origination platform, Apprivo.
The new optional modules – ‘SmarterDocs’ and ‘Enhanced Tasks – are designed to help finova’s clients scale and streamline their operations as lenders look to enhance productivity in an increasingly competitive market.
Apprivo users integrating SmarterDocs will see a centralised hub for document handling. The upgrade aims to facilitate smoother collaboration between brokers and underwriters by providing a single place to organise and share all application documents.
SmarterDocs seeks to minimise the risks associated with sensitive document handling by allowing underwriters to review all application documents on-screen within the secure Apprivo platform.
In addition, finova’s clients can use features such as document categories, multi-document uploads, and access to a full audit trail to track document status, ensuring confidentiality throughout the application process.
Similarly, Apprivo’s new ‘Enhanced Tasks’ upgrade simplifies case management for lenders that integrate the module by utilising automation to raise tasks for operational teams throughout the origination process based on defined workflows.
Enhanced Tasks enables lenders to easily manage outstanding tasks, removing the need to manually prioritise and allocate tasks. This provides operational teams with a clear view of outstanding tasks across their teams.
All task-related information is consolidated in one platform, eliminating the need for spreadsheets or third-party tools. Apprivo users that integrate Enhanced Tasks can keep cases on track by prioritising time-critical tasks in a date-ordered queue. These functionalities also streamline collaboration with brokers, as the platform can now automatically generate tasks for brokers and keep them informed through email notifications.
Mike Beckford, head of transformation & MI at Gatehouse Bank, said: “Apprivo’s newly launched SmarterDocs upgrade has streamlined our underwriting processes. With all key documents easily accessible in one place, our efficiency has improved.
“The upgrade has also greatly benefited our quality control and audit teams, making document retrieval much simpler and less time-consuming.”
Chris Little (pictured), chief revenue officer at finova, added: “At finova, we’re committed to developing technology that is in line with our clients’ evolving needs and these new optional upgrades are the perfect example of this in action. We don’t just want to help our lenders better serve their customers, but we also want Apprivo to improve broker engagement, and both SmarterDocs and Enhanced Tasks will enable it to do just that.
“”These new additions follow the recent launch of our customer retention portal and are another key step in our journey to ensure that lenders continue to get the most from Apprivo. With several lenders starting to reduce rates on fixed mortgages, having a streamlined tech platform will be critical to keep up with the higher application volumes they’re likely to experience following these cuts, and we hope that these new modules have come at the right time.”