Technology – How finance has evolved

Over the past 25 years, we have seen huge steps in the application of technology to streamline day to day activities.

We have seen:

  • – Desktop PCs replaced by laptops
  • – TV’s go from the size of small fridges to flat screens
  • – Dial up phones to push button to cordless to mobile
  • – Video cassettes to DVD to Blu-Ray to downloads
  • – Audio tapes to cassettes to CD to USB
  • – Photo development to polaroid to digital
  • – Carbon paper duplication to photocopy to fax to email
  • – Dial-up Internet to ADSL to Broadband to Wireless
  • – Bank Cheques to BPay and Net Banking.

So do all these advances in technology makes things easier to get a loan for a car, a truck, an excavator or a home?

We in the finance industry have seen banking move to fast and automated service and while this has reduced costs to both banks and clients alike, who can you speak to when things go wrong? And things do go wrong regularly.

Staff numbers in branches have drastically reduced, and call centres and data processing have moved offshore to foreign countries.

Using a finance broker like Hunter Business Finance when applying for a loan makes it simple, easy and efficient. They know what information is required and which lenders are going to be suitable to your needs. It also lets you utilise their experience and expertise to give you the greatest chance of being approved on the right product the first time. Each bank has their own lending criteria so although it’s easy to jump online and apply hoping for a quick answer, how do you know if you even fit the bank’s criteria? Or how do you know if you’ve missed something or made a mistake on your application that could lead to an automatic rejection?

Every time you apply for a loan, an enquiry is placed on your credit file which can adversely affect your credit rating.

When using a finance broker like Hunter Business Finance, they will put your application together in a manner to ensure everything is presented as the bank requires, and will only apply to a lender if you appear to fit their criteria. This not only reduces your chance of an automatic declinal, but also avoids all the delays caused by missing details or information.

And the best part, it costs you nothing to use Hunter Business Finance to submit your home loan application. They get paid by the bank, not you, so you end up with the exact same loan and rate that you would have direct through the bank, but with the knowledge that it’s been submitted with a greater chance of success. And it’s not just home loans they can assist you with, Hunter Business Finance can also assist with loans for cars, trucks, excavators, factories, or whatever you are looking to purchase.

So, the question you need to ask is: If it’s faster, costs no more, and is less likely to go wrong, why wouldn’t you let a finance expert like Hunter Business Finance organise your next loan?

Posted: 29/08/2016 12:50:50 pm by Hunter Business Finance | with 2 comments

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