Pennant Technologies, an agile and innovative financial technology company, announced it has entered in to a strategic ecosystem collaboration with MOGOPLUS, a leading FinTech business providing data and insight solutions to financial institutions in Australia and the UK, to bring innovative borrower decisioning analytics, hardship management indicators and product and service innovation to lending value chains in Australia.
The lending industry in Australia faces challenges in sub-optimal borrower lifecycle experiences and post-settlement digital servicing, with growing complexity and evolving customer demands. Australian banks, non-bank lenders, mutuals and other RFCs require nimbler digital solutions and proactive insights to streamline credit analytics, post-settlement servicing, manage hardship effectively, and deliver personalised borrower experiences.
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MOGOPLUS’ decisioning insights and analytics solutions will integrate through APIs with Pennant’s cross-product loan lifecycle management platform – pennApps Lending Factory – on the loan origination side and with the hardship management indicators on the loan servicing side. Some of the key benefits that financial institutions will be able to get from this API integration include:
- Enhanced Borrower Experience. API integrations for enhanced credit decisioning and digital servicing will offer borrowers greater flexibility through humanised hardship management and key lifecycle moments
- Advanced Credit Decisioning. Together with Authorised Data Recipient (ADR) partners, the solution will deliver Consumer Data Right (CDR) extensions to non-bank lenders and mutuals, driving greater impact on the lending value chain through data-driven decision-making, humanised digital servicing journeys, and proactive lifecycle moment indicators.
“We are excited to collaborate with MOGOPLUS for enhancing and personalising the borrower lifecycle moments that matter,” said Rama Krishna Raju. “This collaboration reinforces our commitment to delivering innovative, scalable solutions that empower Australian lenders to transform their operations and meet the evolving needs of their customers. Together, we are poised to redefine the future of lending in Australia, driving enhanced operational efficiency, agility, and responsiveness in an increasingly competitive market.”
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“We are delighted to collaborate with Pennant Technologies, whose innovative solutions complement our own in driving transformative change across the lending value chain,” Mike Page. “This API integration enables us to offer financial institutions a holistic, end-to-end solution that would strengthen data driven decisioning, deliver distinctive customer experiences, and unlock possibilities and opportunities across the lending value chain.”
“Partnerships fuel Australia’s fintech ecosystem,” said Rehan D’Almeida. “We congratulate MOGOPLUS and Pennant Technologies for striking this mutually beneficial arrangement that will improve competition and choice in the Australia lending sector.”
The API integration sandbox environment provides financial institutions with a secure space to explore and test technology solutions for critical use cases like credit decisioning and vulnerability/hardship management. This setup fosters rapid prototyping, seamless integration, and real-world scenario testing, empowering clients to accelerate innovation, cross-sell and drive better outcomes.
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Source – prnewswire
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