Brokers

May
24

Neobank reimagines broker experience

86 400’s Melissa Christy explained, “The focus has been on doing something really different in the broker space that’s just not there at the moment.”

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Apr
12

HashChing outlines new funding plans

The COO of digital mortgage marketplace HashChing has revealed the company is repeating last year’s fundraising exercise after failing to achieve its $5m target. Last May, HashChing attempted to use equity crowdfunding space Equitise to raise $5m in a month and a half. Interested investors could back the fintech for as little as $250. However, according to COO and board advisor Siobhan Hayden, the funding round was not successful. “We believe it was a demographic issue,” she said, explaining that the younger crowds that inhabit online crowdfunding spaces are drawn to more glamorous investing opportunities than those in the mortgage industry. The funds were intended to be used for new […]
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Mar
13

AI-driven lending platform won’t be the end for brokers

A new Artificial Intelligence-powered lending platform won’t be the end of human loan brokers, the technology’s creators say, because a broker’s ability to understand the intricacies of the application cannot be replicated by a machine. That’s the explanation given by Challis Capital Partners managing director Bill Salouris and Global Capital Commercial sales director Andrew West, whose companies are behind the creation of Lenflo – an AI-driven technology that touts more accurate pricing estimations and a quicker approval process for all kinds of loans. “That experience of sitting down, articulating, and getting an understanding of what the circumstances are is always important,” Mr Salouris said. “When you’re talking cross-company cash flows, […]

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Dec
17

Lender looks to triple growth through broker channel

A marketplace lender has surpassed its target for loan origination through the broker channel, and is aiming to triple growth through the third-party channel in the next year. Speaking to The Adviser, the CEO of personal loan provider SocietyOne, Mark Jones, reflected on the success of the brand over the 2018 calendar year, particularly referencing its renewed relationship with brokers. In June of this year, the company established its first broker partnership and set itself a target of seeing up to $4 million of loans from the channel by the end of 2018. However, Mr Jones outlined the strength of the third-party, noting that this channel’s originations had already surpassed […]

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Dec
11

CashDeck app Wealth Desk is a game changer for mortgage brokers

CashDeck have released their Financial Fitness Tracker app called Wealth Desk for Apple and Android and it’s set to be a game changer for the 65% of mortgage brokers who find marketing and lead generation a challenge. The app is a simple tool that helps clients prepare for the lending process. But, for the broker, it acts as a sales tool, an ice-breaker, a database builder and a way to get their business onto thousands of smartphones. “Twelve months ago we set ourselves three goals”, said Owen Joyce, CashDeck’s Chief Commercial Officer. “One, build an app that is useful to its user in less than two minutes after they download […]

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Nov
29

Digitisation of loan variations ‘more important than ever’

The renewed focus on responsible lending has brought into focus the need for lenders to digitise the loan variation process for brokers, a technology sales director has said. Speaking to Mortgage Business, NextGen.Net’s sale director Tony Carn said that more lenders needed to focus on offering digital loan variations in order to “empower brokers to actually look after customer transactions on an ongoing basis”. Mr Carn noted that lenders had historically focused on digital loan applications for new loans but often neglected similar offerings for variations to existing loans – such as switching from interest-only to principal and interest repayments, moving from a fixed rate to a variable rate, the […]

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Oct
11

Open banking could make expense checks easier for brokers

Brokers will be one of the many beneficiaries of the comprehensive credit reporting and open banking regimes, according to mortgage industry executives. Stephen Moore, CEO of Choice, believes brokers will significantly benefit from the mandatory comprehensive credit reporting (CCR) regime — which is yet to be legislated despite the government imposing a deadline on the major banks to submit 50 per cent of their CCR data by 30 September 2018 — and open banking more broadly. “We have a fundamental belief that the future of broking for many brokers is a combination of digital interaction with customers married with high-quality face-to-face advice,” Mr Moore told The Adviser. “The reason we say that is because […]

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Oct
02

Citi tapped to raise for online broker ahead of IPO

There’s never a dull moment in the emerging fintech sector. Street Talk can reveal online trading broker ThinkMarkets has hired investment bank Citi to oversee a second pre-initial public offering funding round, which is expected to value the company at more than $100 million. Sources said Citi will seek to raise $20 million to $30 million from the private market ahead of ​an ASX listing in 2019. The company raised $5.6 million earlier this year in an oversubscribed funding round that was cornerstoned by Regal Funds Management and mining entrepreneur Tolga Kumova. Elysium Capital Partners is the long-time strategic adviser for ThinkMarkets. The Hamza Habib-led firm oversaw the previous funding round and has navigated discussions between the company, which recorded a record profit […]

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