The team behind Brisbane-based lender Jacaranda Finance have started firming up plans to establish a full-service neo-broking suite in 2021, the first 100% online finance brokerage in Australia. While remaining tight-lipped about the name of the brand, the award-winning fintech has confirmed that the neo-broker will be run as its own independent entity.
Jacaranda Finance has a reputation for building cutting edge lending tech, recently building an advanced digital-first broker suite. Specifically, the platform will harness existing technology to build advanced broker systems and tools to offer digital-first broking services to everyday Australians. It will come with a full suite of digital broker tools including biometric digital identification, minimal touch digital loan applications, digital bank statements and further features planned to be announced to market in late 2020. Leveraging off big data analysis, the platform will enable the neo-broker to offer a wider array of tailored options to consumers, with market-leading response times.
A greater appetite to expand their service offering to consumers and an openness to work with other digital-only lenders sparked Jacaranda Finance to come up with Australia’s first neo-broker. Since its inception six years ago, the company has offered personal loans through a proprietary online-only application that has enabled the lender to offer its market-leading turnaround times. The launch of a neo-broker service will allow Jacaranda Finance to work with digital loan providers that are aligned with their 100% online ethos across not only the personal loan but also the car loan, business loan, and home loan space.
While more details are still to come, Jacaranda Finance is looking forward to working with others in the fintech industry. With partnerships confirmed for a 2021 launch across each product vertical, Jacaranda Finance is eager to expand its offering by joining forces with other digital loan providers who are keen to become part of Australia’s first neo-broker.
