BGL adds new SMSF loan application feature
SMSF software firm BGL has announced a new integration that will enable clients to determine their borrowing ability and to electronically complete a loan application using their fund’s financial data.
BGL Corporate Solutions has integrated with SMSF loan origination platform SuperLX, which will enable users to determine their borrowing ability and to electronically complete a loan application using their fund’s financial data and information held in BGL’s CAS 360 and Simple Fund 360.
BGL managing director Ron Lesh said the SuperLX platform is designed for trustees or their advisers to prepare and complete an SMSF loan application through a simple online process using data available in their BGL software.
Using the integration will significantly reduce the time to complete the required documents.
“The integration of data from BGL and the algorithms used by SuperLX significantly enhance the application process for the trustee,” Mr Lesh said.
“The process is straightforward, quick and, by analysing the loan application against the lender’s assessment criteria, increases the prospects of the application being approved.”
SuperLX director Adam Smith said the quality of information the platform receives from BGL and the way it is able to customise it to suit the assessment requirements of the lender “greatly improve the experience for the applicant and streamline the lender’s process”.
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.