FileInvite partners with the American Association of Commercial Financial Brokers (AACFB) to help members streamline document-intensive loan...
NZHL Partners with FileInvite as CCCFA Regulations Take Effect
New Zealand Home Loans (NZHL) has established a strategic partnership with document and data collection innovators FileInvite in an effort to streamline workflows for NZHL franchise members and to offer a winning experience for clients. With this new partnership, NZHL joins its parent company KiwiBank, which is already operating FileInvite's solutions.
Auckland, New Zealand - 2 December 2021 - New Zealand Home Loans (NZHL) has established a strategic partnership with document and data collection innovators FileInvite in an effort to streamline workflows for NZHL franchise members and to offer a winning experience for clients. With this new partnership, NZHL joins its parent company KiwiBank, which is already operating FileInvite's solutions.
The partnership comes at a critical time for NZHL. Amendments to the Credit Contract and Consumer Finance Act (CCCFA) came into force on 1 October 2021, requiring all advisors and lenders to enhance their practices of document and data collection management and to create an auditable trail for compliance. FileInvite makes this happen, with secure and dedicated data requests, delivery channels, robust digital forms and signature features. Maintaining the highest standards in the security of NZHL’s clients’ personally identifiable information (PII).
NZHL's journey with FileInvite began with a pilot to test how the document and data collection platform would work within NZHL's own tech stack, with positive results. An enterprise contract followed, and the FileInvite team supported their new partners in rolling out the solution to NZHL’s network of mortgage advisors.
NZHL provides its advisors access to market-leading technologies and encourages FileInvite deployment as a best practice. Mortgage advisors, in particular, are likely to find the solution revolutionary, easily requesting documents and data from their clients in a safe and secure environment, whilst supporting an industry-leading client experience at the same time.
With CCCFA comes the need for organisations in NZHL's field to act quickly. The old way of emailing clients and requesting sensitive PII documents and data in order to service lending requirements tends to be inefficient, difficult to track, and creates risk for compliance. This creates difficulties for advisors, as well as their clients, as all parties scramble to ensure data and documentation satisfy the new lending and regulatory requirements.
With a more structured approach — based around centralised solutions such as FileInvite — NZHL's senior management teams are able to give their advisors the capability they need, with best-of-breed solutions that make data and document requests and receipts far more streamlined and reliable. Working with the same toolsets, all advisors enjoy a level playing field and have the solution infrastructure they need to achieve more for clients.
Both parties are looking forward to what the future holds, and the partnership will provide significant benefits to each. For FileInvite, the alliance represents a major client in its home market, as NZHL is already a well-respected brand across New Zealand.
"Our solutions are aimed at making life easier for stakeholders at both ends of the mortgage and home loan equation. By supporting mortgage advisors and providers, we are supporting New Zealand's home buyers too, delivering an enhanced experience for all concerned," says FileInvite's CEO, James Sampson.
NZHL is also looking forward to developing its mortgage advisor tech stack with FileInvite. With the partnership, NZHL will be able to move on from email-based data and document sharing channels, supporting compliance and enhanced efficiency with the immediate deployment of an existing solution.
"Being CCCFA compliant, and improving the client experience in the process, is a key priority for us here at NZHL," says NZHL's [JOB TITLE, NAME NAME]. "FileInvite’s data security is SOC2 Type II certified and is committed to improving advisor and client experiences across the board. They really are the perfect fit for us."
NZHL and parent company Kiwibank are not alone in choosing FileInvite to provide document and data collection and management features. Companies across New Zealand, the Australasian market, and globally are turning to FileInvite, with the Loan Market Group, Aussie Home Loans, and US-based fintech Fundera, among FileInvite's high-profile partners.
The aim now is to establish FileInvite more deeply into NZHL's tech stack, developing integrations with existing systems via the open API. This will enable fully automated functionality and integrated workflows — further streamlining advisor procedures and enhancing the experience delivered to clients.
Founded in 2015, FileInvite helps businesses improve customer experience and increase productivity by simplifying the process of collecting documents and sharing information with customers. The SaaS platform provides an intuitive customer portal and automated workflows that enable users to digitally complete, sign and upload documents, send communications, and keep track of data requests. Built on the Amazon Web Services (AWS) cloud using industry best practices, FileInvite is SOC2 compliant and meets the privacy and security requirements for handling sensitive customer data. For more information, please visit www.fileinvite.com.
NZHL is a passionately Kiwi, passionately local home loan and insurance provider with more than 75 business owners across New Zealand. NZHL’s smart home loan structure and high-touch service proposition is designed to help clients achieve financial freedom, faster.
Now with a loan book in excess of $6 billion, NZHL is a wholly-owned subsidiary of Kiwi Group Holdings (KGH). KGH is owned by the New Zealand Government via New Zealand Post (53%), the New Zealand Superannuation Fund (25%) and ACC (22%).