Pennant Technologies has partnered with digital product studio Fusion to offer digital loan servicing tools to Australian financial institutions.

The integration connects Fusion’s mobile and internet banking interfaces with Pennant’s lending platform, targeting mutual banks and non-bank lenders looking to upgrade their customer experience.

Australia’s customer-owned and non-bank lending sector increasingly competes with major banks on member experience rather than scale.

The partnership aims to address the common bottleneck between the front-end application and the back-end loan servicing stack.

By linking the pennApps Lending Factory platform to Fusion’s channels, lenders can offer comprehensive digital self-service tools.

Customers can access repayment schedules, download e-statements, make advance payments, and move funds between offset and loan accounts.

They can also update contact details with one-time password validation and switch repayment methods directly within the app.

“Fusion brings strong Australian financial services experience and a deep understanding of digital banking expectations across the mutual banking and non-bank lending sectors,”

said Rajeev Sharma, Chief Business Officer at Pennant Technologies.

All customer transactions are recorded back into the Pennant platform as the system of record. This supports data integrity, audit readiness, and regulatory reporting requirements for the lender.

“By bringing together Fusion’s digital banking expertise and Pennant’s robust pennApps Lending Factory platform, we can enable Australian lenders to transform loan servicing,”

said Damien Mair, Co-Founder and Principal at Fusion.

The two companies will jointly support clients through the implementation process and ongoing platform updates.

Featured image credit: Edited by Fintech News Australia, based on image by mrsiraphol via Magnific