NextGen

Office address: Level 35, 100 Mount Street, North Sydney, NSW 2060
Website: www.nextgen.net
Year established: 1993
Company type: financial solutions
Employees: 330+
Expertise: software development, application quality management, credit decisioning, electronic lodgment, origination management, integrated supporting documents, straight-through processing, fintech, loan processing, loan document production, and SaaS delivery
Parent company: N/A
CEO and key people: Brett Stanford, CEO
Financing status: private

NextGen is an Australian financial and technology service provider for the lending and mortgage industry. The company offers services such as electronic lodgment and loan processing solutions, while also holding regular webinars to educate and inform clients and followers.

Over the years, NextGen has partnered with companies like Beyond Bank and ThinkTank which have allowed the company to reach new milestones.

History of NextGen

NextGen was established in 1993 by founder and executive chair Adrian Macleod. With over two decades of company and technological development, the organisation has managed to obtain a sizeable following and customers.

NextGen’s mission to simplify lending by equipping professionals with ApplyOnline and other advanced tools has since then streamlined the mortgage experience for all stakeholders.

Products and Services of NextGen

NextGen's offers an array of products and services that simplifies business operations. Key offerings include:

  • ApplyOnline app: a mobile solution for tracking and managing loan applications, offering a seamless way for brokers to access their business on the go
  • user interface upgrade: revamped for optimal efficiency and ease, the new ApplyOnline interface brings faster loan application experiences
  • financial passport - open banking: utilises rich data to expedite the application process, diminishing the need for physical documents
  • NextGenID: leverages OCR and biometric technology for instant, secure verification of applicant identification data
  • Access Seeker credit report: provides comprehensive credit information to accelerate assessment and approval processes
  • eSign: facilitates quick progress towards loan approval by capturing electronic signatures on loan documents
  • supporting documents: a paperless, all-in-one document management system for handling customer and lender documents efficiently

Culture at NextGen

NextGen believes in displaying their values through how they live each day. Through 5 promoted values, NextGen commits to operate and behave as a unit towards a collective goal. These 5 key values are:

  • balance
  • discovery
  • respect
  • integrity
  • collaboration

NextGen is a proponent for supporting and raising charity events for deaf children. Loud Shirt Day is an annual fundraiser that the company participates in where they wear bright coloured shirts for a day. The company also supports Multiple Sclerosis Research Australia to promote awareness and development.

About NextGen CEO Brett Stanford

NextGen appointed Brett Stanford as CEO in 2021. His expertise in the field of finance includes loan origination, leadership, processing technology, organisational strategy, and open banking. For over 27 years, he has worked multiple roles for NextGen, such as Programme Lead, Programme Manager, Applications Director, and CEO of NextGen Sports.

Stanford has a diploma in Applied Finance & Investment from FINSIA and a BTech Communication Systems degree from Macquarie University.

The Future at NextGen

As NextGen continues to develop their technology to simplify business operations for brokers and lenders, the company will make significant strides in the future. The company's dedication to improving the loan process from application to settlement will help them adapt to economic changes.

In 2024, NextGen’s research indicates that those who use their ApplyOnline platform will experience an increase in efficiency rate with quicker approvals on home applications. As their year starts off with good news, the company is headed towards a more positive outlook.

Banking on great relationships with brokers

Non-major banks roundtable discusses further investment in broker channel

Westpac and NextGen partner for open banking tech

Brokers gain instant access to customers’ financial data from more than 110 participating lenders

Broker collaboration ensures customer retention

Customer-owned banks work closely with brokers on lending solutions

Digital services expedite home loan approvals

NextGen's tech tools making processes easier for brokers and lenders

NAB tells LMG it values its relationship with brokers

CEO talks about symbiotic partnership, shared goals

MFAA calls on industry to urgently adopt open banking

Push for CDR as government seeks to regulate screen scraping

Australian Mortgage Awards judges praise high standard

Impressed by calibre of entries on industry's night of nights

Working together to help brokers and customers

Major banks roundtable discusses key industry issues

Is screen scraping on its way out?

NextGen discusses open banking opportunities amid proposed ban

National Finance Brokers Day set to unify broking industry

Everyone in industry has a part to play, founder says