thornmoney’s technology helps brokers to save time and make more money
Thornmoney applies the latest technology to make accessing invoice and asset finance loans so much easier.
thornmoney is streamlining the asset finance process
Applying for loans and asset finance has traditionally been complicated and slow. Even in 2022, many lenders still ask for forms that must be filled out by hand and printed documents. To make life easier for busy brokers, thornmoney has invested a great deal into streamlining the finance application process.
finance approval: paperless and reduced lengthy email chains
Paper loan applications, faxes and courier deliveries have been a thing of the past for a while but sending applications via email can feel just as ‘clunky’. If you’re still scanning documents and sending them to lenders as attachments, the good news is there’s a better way.
When you apply for asset finance with thornmoney, you’ll submit documents via our Broker Portal which significantly reduces back-and-forth emailing. The details will appear in our system straight away so our credit officers can review them and get in touch if necessary.
you can manage all your deals in one place with thornmoney’s broker portal
We’re constantly listening to our brokers so we can devise the most efficient technology and solutions.
Another helpful tool we provide is our ‘smart’ online rate card. Exclusive to our partner brokers, this dynamic tool provides an instant estimate of loan costs and requirements based on the details you share about your clients. It makes it much easier to decide whether to move forward with an application.
upload documents at the click of a button
We have a dedicated team of credit and business development managers, and our goal is to make the process simple for them as well as for our clients.
While you may not expect a lender to be a tech company, a number of the digital loan application solutions we provide have been developed specifically for our business and clients.
We know that as a broker you need to be able to submit new deals, manage them and track progress without trawling through an endless chain of emails. This is why we have invested heavily in intuitive, real-time platforms and tech solutions. The goal is to reduce the need for repetitive and time-consuming tasks for our team as well as our valued brokers.
Many of our solutions are bespoke to thornmoney. We have made security a priority by adding features such as two-factor authentication. Our technology also helps us to remain in touch for the life of a loan and take fast action to reach out if an account slips into arrears.
You can’t succeed in today’s world unless you have an eye on the future. Thornmoney is currently focused on developing stronger connections with credit reporting agencies so we can streamline the asset finance approval process even further. Keep in touch with us to find out how improved credit check technology will facilitate faster asset finance approval.
And we’ll have some news about an app for brokers soon… this will give you so much more freedom and flexibility.
apply now for fast approval
When you’re an accredited broker, the process of applying for an asset finance loan with thornmoney can take as little as 15 minutes. The quote you receive will be tailored to your clients’ needs, based on the finance they are applying for and the business they operate.
Brokers are able to use the thornmoney Broker Portal to:
- Explore loan options
- Start an application
- Upload relevant details about the client
- Share information about the asset that they want finance for
- Work through finer points such as loan term, finance product (whether Chattel Mortgage or Rental) and payment options (advance or arrears).
If you’re a broker, you’ll be able to rapidly upload the information your clients have already shared with you via the broker portal. Our team is always on call and happy to help with questions; there is no substitute for a real person after all.
In terms of turnaround for approval, the thumbs up for asset finance can come through in couple of days (depending on the application volume). Once documents are submitted, the loan should be settled within one business day.
In the event of a rejected loan application, you can always reach out to us to discuss other options
don’t forget about invoice financing
While we are on the subject of technology, thornmoney also provides industry-leading solutions for invoice financing. The good thing is that you can start a new application in the Broker Portal with a link for the end borrower to connect to their Xero, MYOB or Quickbooks accounting system.
From the information received on the portal, we can review and submit it to credit. Once approved limits are in place and correctly signed agreements, end users can have access to funds within 24 hours.
Read more: Benefits of using debtor financing solutions
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