Finastra launches analytics tool to reduce loan application abandonment

Finastra has launched Data Insights 2.0, a new analytics platform designed to help lenders identify where borrowers abandon mortgage applications and improve conversion rates.

The solution is available through Originate Mortgagebot and provides lenders with benchmarking data, application funnel analysis and performance comparisons based on anonymised market information.

According to Finastra, the platform enables banks and credit unions to identify points of friction within the application process and better understand how borrower behaviour affects conversion outcomes.

The system includes analysis of application exit points, borrower demographics, credit score distribution and loan-to-value trends. Lenders can also compare performance against industry benchmarks using aggregated data from more than 1,000 mortgage originators.

The launch reflects growing demand among financial institutions for tools that provide operational insight rather than simply digitising existing processes. As lending becomes increasingly digital, lenders are focusing more closely on application completion rates and customer experience.

Reducing abandonment can help institutions improve efficiency while increasing the number of completed applications that progress to funded loans.

Although the announcement is focused on mortgage lending, similar challenges exist across commercial lending, SME finance and other forms of digital origination where onboarding speed and customer engagement influence conversion rates.

The development highlights the continued use of analytics and benchmarking tools as lenders seek to improve performance across increasingly competitive digital channels.