Briefs: Gateway’s mortgage book booms, BNZ terminates 9Spokes
Gateway Bank reported that it will finish the financial year with growth of 21 per cent in its mortgage portfolio and a 74 per cent increase in applications over the year. Gateway chief executive Lexi Airey said in a statement that its strong performance in home lending was due in large part to a digital strategy that has enabled “cost-effective scalability”. The bank’s tech provider is Cloudcase Software Solutions, which helped it streamline and automate originations.
NAB subsidiary Bank of New Zealand will terminate its platform agreement with data solutions company 9Spokes when the current agreement ends in October. BNZ accounts for around 12 per cent of the company’s revenue.