All Collections
ubank
The File Tab
ubank Digital workflow in the File Tab
ubank Digital workflow in the File Tab

ubank uses a digitised workflow for the loan application process. The File Tab is where you can trigger most of the digital functionality.

Ricky avatar
Written by Ricky
Updated over a week ago

Overview

The ubank loanapp uses a digitised process, which allows you to call a number of third party services to complete the loan application process. This not only speeds up the loan submission process for both you and your applicants, it adds 'verified' data to your application which means ubank does not need the normal set of supporting docs to support your application. 

The key digital processes that are used by ubank Loanapp are:

  1. Digitial ID verification 

  2. Smart Statements - extract data from customer's bank accounts to auto-populate the application

  3. Rental and Property AVMs

  4. Docusign

Other than Rental and Property AVMs (which are used in the actual application form), the majority of the services are found in and triggered from Loanapp's FILE tab. This article is a quick run-through of the FILE Tab and what you find there. 

The FILE tab can be accessed at any time, by clicking on FILE in the top left corner:

Once in the File Tab you will be presented with the menu below. The sections pertinent to the digital workflow are outlined by the red border.

These steps must be completed sequentially to enable entry and collection of data relevant to the loan application.

You will note when you first get to the FILE tab, that each step is locked (note the padlock next to each step), until the previous step is complete.

i.e. To begin Initiate VOI, Identity Verification must have been completed successfully.

Submission of the application will only be available once all sections have been completed.

Identity Verification

ubank uses Equifax to digitally verify the Applicants. To complete the Identity Verification step, the Person Applicant must been entered into the application.

For more information on completing Identity Verification see Article - ubank Identity Verification.

Once Identity Verification is complete, the Initiate VOI and Smart Statements steps will be unlocked. 

If changes are made to the Applicant after completing Identity Verification, the steps will need to be redone.

Initiate VOI

ubank uses OCRLabs to allow the Applicant verify their identity. 

After completion, the Applicant’s details cannot be changed as the Applicant has been verified.

For more information on completing Initiate VOI see Article - ubank Verification of Identity (VOI).

Smart Statements

ubank calls BankSatements to gather the Applicant’s bank account data which is used to auto-populate Income, Living Expenses, Savings Accounts and Liabilities.

For more information on completing Smart Statements see Article - ubank Smart Statements 

Once Smart Statements is complete, LVR and Generate Forms are unlocked.

Running LVR will first validate all fields in the application and then generate a serviceability summary.

It is important to note that once Smart Statements has been complete, the Person Applicant data within the application should not be modified. 

Assets and Liabilities and New Requirements can be modified after Smart Statements is completed as any information not drawn from the Applicant’s bank statements will need to be added.

Generate Forms

ubank uses digital technology to generate, validate and send Forms for signing.

For more information on completing Smart Statements see Article - ubank Generate Forms.

Once Generate Forms is completed, Checklist and Electronic Sign are unlocked.

Electronic Sign

ubank uses DocuSign to invite Brokers and Applicants to review and digitally sign loan documents.

For more information on completing Smart Statements see Article - ubank Electronic Sign (DocuSign).

The Submit will remain locked after Electronic sign is completed.

Submit

The Submit step will be unlocked and the application is able to be submitted.

Click here for the full ubank User Guide.

Did this answer your question?