Hume Bank has partnered with digital transformation software vendor Q2 to modernize its loan origination platform and transform its customer onboarding process for loan and deposit products.
The customer-owned bank, which has over 55,000 customers, was seeking a cloud-based digital origination solution that would match its technology architecture as it undergoes its bank-wide transformation program. The bank intends to use the software to reduce loan decisioning time and streamline customer onboarding.
The Q2 partnership will consolidate Hume Bank’s digital channels and multiple product offerings onto one lending platform, enabling straight-through processing to automate data sharing and reduce repetitive tasks.
Hume Bank’s chief innovation officer, Jason Woolhouse, said the bank will standardize its lending product and channels under a single, adaptable lending origination platform and then seek to expand its use to other lines of business, origination, and enquiries. Q2 will develop an origination solution that offers an intuitive, streamlined, predictive, and fast experience for Hume Bank’s future customers.
