Australian digital lender Nano has signed a partnership agreement with Oracle which sees the former’s onboarding technology implemented across the Oracle network.
Nano, founded in 2019, launched its digital home loans service in July. It claims to have already originated more than AUD 100 million since.
Its lending product is available only for the consumer market at the moment, though the firm says it is building out a business-first offering.
Oracle will deploy Nano’s onboarding technology – including decisioning, ID verification, and serviceability – across its partner network.
Nano claims its onboarding system is able to run multiple stages of the process in parallel and thus increase the speed of the whole onboarding process.
“We’re seeing interest in licencing or white labelling deals from many different players,” says Nano CEO, Andrew Walker.
“Moving forward this could be a major opportunity for mortgage brokers to partner, licence or white label Nano’s technology to help streamline their processes.”
As part of the deal, the two firms will also share digital architecture across the loan process.
“We continually hear clients asking for innovative, cost-effective services to provide a better lending experience,” says Chaitanya Rastogi, Oracle general manager for Australia and New Zealand.