Aussie has strengthened its partnership with specialist lender Pepper Money with the launch of ‘Aussie Activate Product Match’ – a digital solution now accessible to all Aussie and Lendi brokers.
Powered by Pepper Money’s exclusive technology, the Pepper Product Selector (PPS), the Aussie Activate Product Match solution is integrated directly into the Aussie Activate loan journey and Lendi platform.
The broker group said the technology matches a customer with the optimal Aussie Activate home loan product and delivers an indicative approval in under five minutes, without impacting the customer's credit score.
Combining comprehensive credit reporting and some basic application information from the customer, the system automatically analyses a range of factors including credit history, LVR, property location and employment history to serve customers with a product match and rapid indicative approval.
Aussie’s offering allows the broker and their customer to know where they stand with one enquiry, against the full suite of Aussie Activate product options.
The solution reflects the non-bank sector’s agility and increased share of residential lending – which reached 16% market share in March this year, and an estimated market value of $74 billion.
General manager, lending and third-party partnerships at Lendi Group, Shaun Lordan (pictured above left) explained: “There are a whole range of circumstances that need to be considered when helping our customers. These differ from higher LVR’s to gifted deposits, non-standard income, self-employment and so much more.”
“Traditionally, these types of circumstances mean longer processing and application times and much more work for our brokers in finding the optimal product solution.”
The product matching technology now sits within Lendi Group’s platform, providing Aussie brokers with the appropriate Aussie Activate loan and indicative rate to match their customer's needs.
“This can all take place in under five minutes, supporting faster time to ‘yes’ and increasing the chance of conversion,” Lordan added.
“80% of our brokers are now using lender integrations on platform to help them write loans every week, and it’s empowering for our brokers to help customers with differing circumstances so efficiently.”
Aussie said its broker network has warmly embraced the product, appreciating its efficiency, particularly the elimination of duplicate data entry, with the solution delivering single system input.
Brokers have favoured the user-friendly interface, particularly the rapid product matching feature, which identifies the optimal home loan option, eliminating the guesswork of finding the most appropriate Aussie Activate offer; particularly important for complex home loan scenarios.
“We are continually looking for ways to ensure our lending products are best on platform for both our brokers and customers and look forward to further upcoming enhancements to our Aussie Activate offering,” he said.
Continuing on from its major policy revamp earlier this month, Pepper Money has sought to grow its influence among broker partners.
Pepper Money’s general manager mortgages and commercial lending, Barry Saoud (pictured above right) said the non-bank remains focused on empowering their white label partners and broker networks to meet their growing customer needs.
“With the launch of Aussie Activate Product Match, we’re empowering the Aussie Lendi network to continue to focus on what matters: the people behind the loan.”
“Pepper Money has developed market leading technologies and systems to support our distribution partners aimed at driving higher conversion, an improvement in broker productivity, and white label settlements; whilst delivering a positive broker and customer experience,” he said.
The new Aussie Activate Product Match is integrated within Lendi Group’s platform, which is now used by all Aussie brokers since June 2023. Currently the firms’ brokers are achieving lodgement speeds up to four times faster than the industry average.
