MEDIA RELEASE
1 February 2010
SYNERGETIC SERVICES AND SANDSTONE TECHNOLOGY SIGN KEY AGREEMENT
Newcastle-based, technology Company Synergetic Services Limited
is pleased to announce that the
Company has signed a teaming agreement with Sandstone Technology Pty Limited a leading provider of
loan origination, valuation management and internet and mobile banking solutions to financial
institutions globally. This agreement effectively means that Synergetic and Sandstone, by allowing their
systems to seamlessly talk to each other, can collaboratively enable customers at the point of sale (such
as market-sites), to electronically submit applications to financial institutions and receive a response in
real time.
Sandstone’s customers are blue-chip financial institutions including ANZ, Westpac, Bank of
Queensland, Adelaide Bank, Suncorp, ING, Credit Union Australia, IMB, Newcastle Permanent Building
Society, Cumberland Building Society, Arab Bank and Rabobank.
The ‘Synergy’ system developed by Synergetic empowers customers to obtain pre-approval for finance
in a single internet session,
without the need to physically visit a lender and with 24/7 access. This
innovative loan origination system is seeking to revolutionise
the lending market, by implementing a
more efficient, user friendly application process that provides customers with real time application
responses over the internet and importantly, fully supports compliance with the new National Consumer
Credit Protection (NCCP) Act.
According to Chairman of Synergetic Services, Andrew Meakin,
“By collaborating on linking their systems,
Synergetic and Sandstone will enable Sandstone’s lender
client base to have seamless access to ‘Synergy’ and the wealth of opportunities it provides, including
internet access to point of sales markets in a NCCP compliant environment. Loan applications initiated
in ‘Synergy’ are seamlessly transferred to Sandstone’s system for fast tracking through to settlement in
the lenders back office. Both systems operate in a real time environment for rapid and robust
processing.”
In commenting on the agreement, Martyn Beer, General Manager Lending Solutions for Sandstone
said,
“Increasingly, more loans are being initiated via the internet, as financial institutions look to offer their
customers the most efficient pathway to a Lending Solution. Given Synergetic’s front end capabilities
and our own back end loan origination and processing innovations, we are extremely excited by the
opportunities that the Teaming Agreement with Synergetic presents.”
For further information contact Rod North, Bourse Communications, (03) 9510 8309 or 0408 670 706.
NEWS 
