Aggregator AFG has inked a deal with fintech Frollo that will give brokers the chance to speed up their loan applications via Open Banking.
Brokers who use AFG will gain access to Frollo’s Consumer Data Right (CDR) capabilities, allowing them to access customer data far more quickly from a range of lenders and data holders, thus reducing the amount of time taken to submit an application.
Frollo are an Accredited Data Recipient (ADR) and thus can grab data from across different providers and collate them for brokers. Under the new partnership with AFG, they will help the aggregator to attain ADR status themselves.
“AFG is committed to providing innovative solutions that will help our brokers stay at the forefront of technology advancements in financial services,” said Mark Hewitt, general manager industry and partnerships at AFG.
“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 welcomed the large number of brokers that will now be able to access their platform.
“Open Banking has the potential to deliver incredible value for consumers, particularly when it comes to mortgage applications,” said CEO Gareth Gumbley.
“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.”
