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In order to diversify the options made available to its broker network, AFG has partnered with Melbourne-based fintech Symple Loans.
Through the new arrangement, AFG's network of more than 3,000 brokers are able to provide their clients access to Symple's personal loan offering.
"Symple has an innovative pricing model and its addition to the AFG panel helps drive a competitive lending market," said Chris Slated, head of sales and distribution at AFG.
Symple, which officially launched in January 2019 and has raised over $100m in debt and equity to date, utilises digital lending technologies, advanced analytics, and proprietary risk scoring techniques in analysing borrowers' financial situation.
These tools allow the group to accurately determine a borrower’s risk profile, and then offer the best interest rate possible.
"Our aim has always been to set a new standard for how personal lending ought to work and then align with industry leaders locally and globally to bring that strategy to life," said Bob Belan, co-founder and CEO of Symple.
Belan added that the partnership with AFG is a crucial step in Symple’s growth plans as the lender is looking to expand its footprint in the market.
"Over half of our customers are homeowners and given AFG’s leading position in this segment, a partnership between us made intuitive sense as a way to expand our reach and to help better serve the personal lending needs of AFG’s client base," he said.
