Australia-based financial services company AMP Bank has partnered with legal services provider MSA National to offer mortgage documentation and settlement services.

The latest move comes after AMP Bank’s new partnership with Simpology, an end-to-end loan origination system.

The partnership with MSA National aims to fully integrate both technology platforms to enhance the home loan experience for brokers and their customers.

MSA National managing director Sam Makhoul said: “From our first meeting with the AMP and Simpology teams, it was clear that we share a common vision and transformation roadmap.

“Together we aim to provide a highly automated process by leveraging MSA’s digital products and MSA’s file ownership model which gives customers and brokers a single point of contact.

“This blend of technology and personal touch aims to deliver unprecedented turnaround times with care.” 

According to AMP Bank, the new collaboration will help brokers with the issuance of multiple security applications and other loan documents in 90 seconds.

Brokers will also benefit from true file ownership, with clear communication regarding file status and outstanding requirements. Besides, brokers will have visibility into the status of all MSA National deals through their LoanTrak portal.

AMP Bank said that all loan agreements will be send through DocuSign as part of the collaboration.

The partnership will also enable AMP Bank’s customers to have the complete visibility of their loan process through OnTrak portal accessible by QR code once documents are issued.

They will also benefit from receiving significant data about the settlement of their loan through informative videos. These will explain the entire process to settlement and highlight major information requirements.

Besides, customers will benefit from individual document re-issuance, which helps to eliminate errors during the document signing process. Additionally, real-time payments and BPAY for disbursements will enable MSA National to directly pay out liabilities.

AMP Bank group executive Sean O’Malley said: “Our new partnership with MSA National and its integration with Simpology’s technology will transform our loan origination process and equip brokers with a market-leading home loan experience, providing faster time to receive loan documents, superior visibility through the application process, and greater certainty from submission to settlement.

“Brokers are essential to the home loan ecosystem and in achieving great loan outcomes for customers, and we’re committed to partnering with leading technology providers to offer them a seamless experience.”