Mortgage Choice announces strategic partnership with tech provider NextGen

Mortgage Choice have announced a new partnership with technology provider NextGen, which marks the first phase of integrating open banking into the Mortgage Choice home loan application process.

NextGen’s open banking tool, the Frollo Financial Passport will now be available in Mortgage Choice’s proprietary loan origination system, Broker Platform, giving brokers access to AI-powered insights that help deliver a great customer experience.

Nicole Devine, General Manager Product in REA Group’s Financial Services business said, “This partnership is a pivotal next step in our tech roadmap, and underscores our commitment to equipping brokers with systems that helps them save time and deliver even better customer outcomes.

“Frollo’s Financial Passport uses the Consumer Data Right, an opt-in service that allows consumers to safely share their financial data with their broker.

“In an age where speed really matters, open banking and the Frollo Financial Passport significantly cuts down the time required to verify assets and expenses and enables brokers to more quickly deliver real-time insights about a customer’s financial position to lenders.

“This new tool will help brokers improve conversion rates on pre-approvals, reduce processing times, and elevate the customer experience.”

Renee Blethyn, Head of Broker Partnerships at NextGen, added, “We’re excited to bring Mortgage Choice brokers the most advanced technology available, and offering their clients a safer, more secure way to share their information.”