Lextech is a leading Australian mortgage services company dedicated to providing Software with a service”, as General Manager Dean Hurlston explains. Best for End-to-End Mortgage Processing Solutions 2016 extech support a range of Australian banking giants, including Mutual Bank, Credit Union and a number of large non-bank lenders, providing an innovative platform can be tailored to any lender globally. Dean talks us through the firm’s software and how it supports clients.
“At Lextech we cover all aspects of mortgage services, debt collection and recovery and General Advice in relation to Lending Matters. Our unique platform allows all parties to see the entire transaction transparently, and this drives efficiency and ease of delivery for our clients.”
With decades of experience at the front line managing lending and sales teams in the Mutual Bank industry, Dean is in a strong position to help drive the company forward, as he outlines in greater detail as he discusses how he draws on his experience to ensure the continued success of Lextech.
“Personally, my experience led me to believe there was a better way than the traditional Solicitor and Lender relationships which are not focussed on service delivery to customers and members. Lenders traditionally lose control. A chance meeting with Simon Purcell (Founder and Managing Director) felt like it was an “answer” to the industries problem. Simon has always had a revolutionary attitude and is by far the most cutting edge solicitor in the space, and it is a genuine pleasure to be able to work alongside him.
“Coming from the industry means that I have walked in the shoes of our clients – that is very important. Our lenders and any new clients can clearly see what we do is based solely on them and solving their very real problems. Lenders work very hard to “win” business – the last thing they need is a long complicated settlement process that discourages new borrowers before they even make their first loan repayment.
“As such, drawing on my experience I have helped Lextech to grow in a short amount of time and we are finally able to offer digital disruption to lenders in the Solicitor relationship, which is a real achievement and one of which I am very proud.”
Whilst innovation in technology is essential for a firm in Lextech’s position, Dean believes that people are the main requirement for setting the firm apart, and as such he aims to cultivate a supportive and innovative culture in which staff are able to provide the highest possible level of commitment and service.
“Experience is important for our staff, but when hiring we always look for that spark of interest and we find that we love to teach our exsisting staff the “Lextech way” of service delivery. We also realise that the way you treat your people will be a direct reflection on the way they treat your clients. We believe in creating fun events and social opportunities for the staff to bond and strengthen relationships. We recently moved premises and location and office design were a major part of the decision. The space had to be something that the staff could be proud of and want to work in every day. Our staff are the cornerstone of our service delivery and ultimately determine the success of our business, through the application of our Service Standards that are written into our client contracts. This ensures the lender is able to promise a standard of service delivery. Essentially we hire based on attitude not just skill or experience. Our team are acutely tuned to the lenders needs and must always have a “do whatever it takes” attitude, and we are very proud of the high standard of service that they provide.”
As we draw towards the end of our interview Dean is eager to comment on the wider legal industry and the affect that technology has on both his firm and his competitors, and how other firms can adapt around the challenges they face.
“Technology in the legal space is rapidly changing which is great but like any technology if your people are not aligned to creating a magical experience it’s just a good piece of technology. Technology enables – people connect. This industry is always and has always been about people – it’s the human condition that technology will never satisfy alone. Digital disruption of the legal industry is an ongoing process in Australia.
“Recent legislative amendments allowing for electronic registration and digital signatures are a good start but there is a long road ahead of us before we can become truly paperless. We are currently consulting with regulators to find elegant bridges between the “old paper way” and the new digital frontiers ahead. Overall our area of law is finally being revolutionised in Australia to become mostly paperless and digital with respect to registrations and discharges of title instruments. This creates fantastic opportunities for us to look at faster ways to settle. With acceptance of technology like Electronic Signing we are more than ever in a position to settle in days and not weeks.
“Fundamentally, people expect legal services to be predictable, reliable and timely. The legal industry needs to adapt and pull down the walls between them and the client. The legal industry needs to realise that they are service providers and not simply there to talk down to clients.”
Ultimately, technology enables settlements via smartphone, signing documents by electronic means or enabling a client face to face conversation rather than a traditional phone call. Whilst many of Lextech’s competitors struggle to keep pace with technological advances, Dean is eager to emphasise the fact that his firm are driven by them, and will continue to be so moving forward.