Revised digital strategy boosts Gateway’s loan applications

  • By Zilla Efrat

Customer-owned Gateway Bank has delivered annualised growth in its portfolio of 21 per cent this financial year, thanks to its revised digital strategy which has enabled cost effective scalability to support its growth.

"Before the pandemic, we embarked on a digital strategy of building capability to scale the business cost effectively,” says Lexi Airey, CEO of Gateway Bank. 

“The 2021 financial year was one of implementation and enhancements and this year has seen the strategy deliver above and beyond expectations,”.

Driving this growth was a 74 per cent year-on-year increase in home loan applications in the first half of the 2022 financial year, which significantly increased assessment volumes.

Gateway was able to deliver this standout growth volume without increasing headcount or any adverse impact on service level agreements.

The mutual bank’s partnership with Australian fintech Cloudcase Software Solutions helped it streamline and automate its loan originations through both the direct and third party (broker) channels.

“We utilised and leveraged the Cloudcase platform via our own API platform and achieved seamless growth without any issues or delays in the lending supply chain, or any substantial increase in turnaround times that often plague such projects,” says Peter Buzek, chief technology officer at Gateway Bank.

“Given the success of the implementation across our home loan and lending processes we are now expanding utilisation of Cloudcase across other product categories to drive the continuous process improvements. This will not only deliver cost savings but also enable us to enhance our members’ experience.”