AFG Home Loans is ramping up its white label offering across its member base, so far benefitting over 1950 brokers nationwide.
Originally conceived to inject competition into the lending space, white label products are fast increasing their reach.
Head of Distribution of AFG Home Loans, Chris Slater, admits that the take-up of sub-branding solutions has caught him by surprise.
“Quite honestly we’ve been amazed at their popularity. About 20 percent of our flow over the past 12 months has come from white labelling/sub-branding,” Slater says.
“Brokers, with a loyal client base, say they find it easier to sell their own brand. Secondly, when their own product makes up a percentage of their book, it increases the book’s value.
“A lot of clients are more comfortable affiliating with their broker’s own brand as well.”
The decision by AFG Home Loans to increase lending options by ramping up distribution of its white label product, is a demonstration of the funder’s commitment to brokers.
“
NextGen.Net’s
ApplyOnline system has enabled quick and easy electronic lodgment for brokers to be able to originate these white label loans,” Slater says.
“
ApplyOnline bolts onto our CRM platform, Flex. This means brokers can sit down with their clients and show them all the products available on their panel, including their sub-branded offering; and then with the click of a button, lodge whichever loan is not unsuitable.”
ApplyOnline identifies white label products at AFG’s end, which Slater declares is an “invaluable asset”.
“The
ApplyOnline technology, working in sync with our technology, Flex, allows us to identify sub-branded loans as soon as they come into our system.”
An additional benefit Slater says, is that the compatibility of
ApplyOnline with the AFG platform means brokers can determine where their own branded loans are at in the processing scenario.
“The bottom line is that the engine powering our drive to increase our white label offering and making it doable, is the NextGen.Net platform,” Slater says.
NextGen.Net Sales Director, Tony Carn, acknowledges AFG Home Loans’ allegiance to its white label solutions and in turn to their brokers.
“This is a real point of differentiation for AFG Home Loans because it is enabling their brokers to provide their own branded home loan products,” Carn says.
“It is supporting brokers to grow their business and build their own individual brand. White label solutions have grown in popularity because they allow brokers to differentiate themselves from other brokers.”
Slater forecasts that sub-branding will continue to grow in popularity.
“Every indication I’m getting from brokers and the market is that the take-up of white label products is undergoing a surge,” he says.
“There is a lot more we can do in this space to enable brokers, through technology, to be able to give customers an even better experience through their own branded products. I predict that much of this will come with digitalisation in the online space.”
