Aldermore unveils digital proposal amendments for faster re-approvals

Aldermore has launched a new digital proposal amendment feature through its Asset Backer broker portal, streamlining the re-approval process for asset finance proposals and slashing decision times to under 10 seconds.

The bank’s latest innovation allows brokers to make post-sanction amendments to proposals with a single click, triggering an instant re-decision via Aldermore’s expanded automated decisioning system. This enhancement replaces a previously manual and time-consuming workflow that could take up to half a day and relied heavily on email correspondence, often resulting in delays and uncertainty.

According to Aldermore, up to 20% of finance applications typically undergo changes after the initial decision, making the need for a fast, reliable amendment process crucial for brokers aiming to maintain momentum with clients.

Lee Rhodes, Commercial Director for Asset Finance at Aldermore, said: “We know that circumstances often change post-decision and with nearly a fifth of proposals requiring amendment to sanction, it’s essential that we give brokers the tools to respond quickly and confidently.

“Our new digital proposal feature replaces a manual, time-consuming process – enabling one-click changes and re-approval decisions to be made in just a few seconds. This makes the journey much simpler and allows brokers to move at the speed their clients need.”