Westpac has launched a Live Online Lending Application (Lola) to help small to medium sized enterprises apply for loans and a MyBusiness Assist platform to help businesses plan, manage and finance their firms more easily.
The two new products are designed to help SME customers streamline financial and non-financial applications and processes and will help the bank move more of its customer service and business banking online, helping internal efficiency.
According to the bank the Lola tool should make it simpler for existing small business customers to apply for additional loan funding, as it links to local business bankers, without having to spend lots of time on application documentation.
