AFG and Frollo join forces to improve mortgage lending with Open Banking data
Open Banking provider Frollo has announced they’ve signed AFG as the latest client for their Open Banking platform. As one of the most experienced Accredited Data Recipients (ADR) in Australia, Frollo will support AFG in becoming an ADR themselves and deploy the solution to its brokers under the upcoming ‘trusted adviser’ model.
AFG will use Frollo’s CDR Gateway to empower consumers by enabling them to share their financial and banking data with their trusted broker, for the purposes of assisting those customers to apply for finance in a more streamlined and efficient way. By leveraging Open Banking, this will speed up mortgage applications with data trusted by banks.
Mark Hewitt, AFG General Manager Industry & Partnerships explained the move, saying, “AFG is committed to providing innovative solutions that will help our brokers stay at the forefront of technology advancements in financial services.
“The CDR gateway from Frollo can enable many use cases that could be deployed to AFG brokers. We are very excited about the potential for Open Banking in the mortgage sector.
“Leveraging Frollo’s leading-edge technology and experience in Open Banking ensures our brokers will be well equipped to continue to deliver excellent customer outcomes.”
Frollo Founder and CEO Gareth Gumbley said, “Open Banking has the potential to deliver incredible value for consumers, particularly when it comes to mortgage applications.
“We’re excited to work with AFG and provide their brokers with a complete, real-time overview of their customers’ finances to help their customers achieve their financial goals.”