Frollo launches Open Banking-powered portal for mortgage brokers
Frollo, Australia’s leading Open Banking platform provider, have announced the launch of Frollo for Brokers, a transformative online portal designed to empower brokers with easy access to verified account statements and financial data — powered by Open Banking and the Government regulated Consumer Data Right (CDR) framework.
Since becoming part of the NextGen business, Frollo has worked closely with NextGen to integrate Open Banking into their ApplyOnline platform. This integration has already seen success with aggregator groups Connective, Finsure and Mortgage Choice, and major banks CBA and Westpac Group, with positive feedback from brokers leveraging the streamlined data access and enhanced client experiences. Building on this momentum with Frollo’s deep expertise in Open Banking technology, this solution is now available to all brokers.
Frollo for Brokers transforms the manual, time-consuming task of collecting account statements during the fact-find process into a seamless digital experience. With consumer consent, brokers can now access real-time financial information with just a few clicks, streamlining the home loan application process, boosting efficiency, and delivering better outcomes for clients.
Utilising Open Banking significantly reduces the need for screen scraping by offering a more secure and reliable alternative where available. Brokers and their clients can now access real-time, permissioned data directly from financial institutions. Enhanced by Artificial Intelligence-powered categorisation and analysis, financial data is automatically processed and interpreted to deliver actionable insights—fast. The result? Fast fact-finding, greater accuracy, and a smoother path to loan approvals.
“We are providing brokers with the choice to use Open Banking to deliver fast, safe and more transparent experiences for their clients. They no longer have to rely on screen scraping methods to access client account statements – an approach that’s becoming increasingly obsolete as banks phase it out over security and compliance risks,” said Renee Blethyn (pictured), Head of Broker Partnerships at NextGen.
Frollo for Brokers addresses these critical pain points in the mortgage application process by providing brokers with fast, accurate financial information through secure data sharing. The solution reduces manual processes and cuts application times while supporting compliance with lender requirements. It delivers significant time savings by automating data collection and verification processes. Early adopters report cutting hours from each application while increasing accuracy and reducing rework.
For clients, the solution offers a modern, secure way to share financial information, eliminating the need to collect and submit months of account statements and other documentation. NextGen is proud to be leading the industry standard by expanding its Open Banking solutions through its subsidiary, Frollo, empowering brokers with fast, safe, and more transparent access to financial data.
Frollo for Brokers is available immediately for all MFAA and FBAA accredited Australian mortgage brokers to use with their clients and at no cost. For more information about Frollo for Brokers visit www.frollo.com.au/frollo-for-brokers.
