We’re upgrading our core platforms!

core system upgrade

We’re upgrading our core origination and servicing platforms, including internet banking! This is something we’ve been working on in the background for several months, and we’re thrilled to finally share the news and tell you about all the upcoming benefits for you and your customers. 

What’s changing?

Loan submission experience

We’re transitioning from our legacy origination platform to a NextGen solution. This will enhance your loan submission experience with us in a number of ways, including:

  • Validation of information entered into ApplyOnline such as loan product, loan amount and LVR to ensure they meet policy.
  • A smart checklist for mandatory documents that are to be uploaded into Supporting Docs Online.
  • Real-time status updates with additional milestones added to backchannel messages, and improved loan tracking in ApplyOnline via your aggregator system or CRM from application through to settlement.
  • Greater transparency on deal processing with lender correspondence accessible via backchannel message notifications and within ApplyOnline tracking.

Since we are transitioning to a new origination platform, our accredited brokers will be issued new broker IDs to be used when submitting applications through ApplyOnline. This will take place in the coming weeks – if you’ve not received your new broker ID by Friday, 2 July, please email the Bluestone broker support team at accreditation@bluestone.com.au

Internet banking

You’ve asked for it and our customers have asked for it, so we’re super excited to be rolling out our upgraded internet banking portal. New features include:

  • Mobile-first design
  • Improved user experience and navigation
  • Two-factor authentication
  • Realtime payment processing
  • Digital statements

We’ll have more to share (and show!) in the coming weeks. 

When will this happen?

Our core platform upgrade will take place over the weekend of 3 and 4 July, and if successful we estimate it will be live on Monday, 5 July. During this period there will be no disruption to your experience within ApplyOnline. We’ll let you know once deployment is confirmed, or if we need to roll it back. 

FAQs

What about submitted deals in progress?

All deals submitted before 8.30am on 3 July, will be processed using our existing origination and servicing platforms. As these deals won’t have the loan tracking enhancements mentioned above, you’ll need to contact the Bluestone broker support team for status updates. Any applications that you have entered into ApplyOnline but not yet submitted won’t be affected. Once they are submitted they will flow through to our new origination platform for processing and assessment. 

What will happen to deals submitted after 8.30am on 3 July, but before 5 July?

These deals will be held in our queue and released for processing and assessment in our new origination platform on the morning of Monday, 5 July. There will be no impact to our standard SLAs during this time.

How do I set up backchannel messages for loan updates?

We will be transitioning most loan updates to be distributed through backchannel messages and ApplyOnline loan tracking rather than traditional email. We recommend that you contact your aggregator help desk to find out how best to set up and optimise backchannel messages. Depending on your aggregator, you may also be able to do this directly in ApplyOnline. From here you can select which updates you’d like to receive and how you’d like them to be delivered (SMS or email). If you don’t want to set up backchannel messages, you can still check the progress of an application at any time in ApplyOnline. 

Will this change impact any other processes such as loan contract preparation and settlement?

First Mortgage Services (FMS) can directly integrate with our new platform to provide a more streamlined exchange of solicitor instructions and status updates as the loan progresses through to settlement. FMS will therefore be the only agent working on our behalf to issue documents and coordinate settlements.

Does this affect my existing customers that have already settled a loan with you?

There will be no impact to existing customers during our core platform upgrade.

When will existing customers get access to the new internet banking portal?

We will migrate existing customers to our new servicing platform over the course of a few months later this year. This will give them access to the new internet banking portal. We will communicate directly with customers to let them know when this will happen and make sure they have all the information they need for a smooth transition to our new portal.