My Local Broker's technology-powered expansion push

by 27 Apr 2016
My Local Broker is powering ahead with its national expansion plans.

The Challenger aggregator unveiled its growth strategies earlier this month, central to which is its new CRM purpose-built ‘Chief Software’ that integrates directly with the NextGen.Net ApplyOnline platform.

My Local Broker CEO Jaci Smith says the key to her words at the launch was the message: “We’re now able to deliver exactly what brokers have said they want.”

“We engaged NextGen.Net to create our own ApplyOnline ‘Broker Centre’ to allow us to be fully stand-alone and enable full integration into Chief for seamless transmission to ApplyOnline and subsequently transition through to lenders,” says Smith.

NextGen.Net was the obvious partner or My Local Broker in terms of an electronic gateway to the lenders. “NextGen.Net is the expert in the market and essentially we’ve taken all their years of hard work and engineered that within our own framework, which means full seamless transmission,” she says.

Smith stresses how simple the process was for NextGen.Net to integrate with My Local Broker’s CRM system. The advantage is that they can now plug into NextGen.Net’s API service and gain access to all lenders’ serviceability calculations in real-time.

“In short, what this means is that broker groups no longer need to maintain all the serviceability calculations of every lender in their CRM system,” says NextGen.Net Sales Director, Tony Carn.

“The old, outdated method generally utilises an Excel spreadsheet calculator, reprogrammed for the respective CRM systems. That slows down the process and inevitably led to a time-lag. “With NextGen.Net’s API, My Local Broker just calls our service, and we calculate assessment and maximum borrowing capacity and send the answer straight back,” says Carn.

The service has been piloted, industrialised and is now in production with a couple of broker groups, with others planning to go live shortly. Acknowledging the triumph of the My Local Broker partnership with NextGen.Net, Smith points to the significance of taking full advantage of NextGen.Net expertise.

“We had no desire to recreate the wheel,” she exclaims. “The crucial element is how a broker’s CRM and a third-party, like NextGen.Net, come together.

“Together we have cleverly re-engineered the process to leverage what NextGen.Net has done brilliantly for more than 10 years.”

Access to ApplyOnline means My Local Broker also has access to other tools such as the ApplyOnline App.  The ApplyOnline App provides a one-touch visibility tool for the broker to see their entire pipeline. They can search for specific loan applications and keep up-to date with push notifications for real-time status updates.

In February, Tyler Smith was appointed My Local Broker’s Head of Innovation to work in conjunction with CEO Jaci Smith in the on-going integration and developments. My Local Broker plans to implement a number of further integrations over the next 18 months to take full advantage of NextGen.Net’s sophisticated and smarter solutions.

“My Local Broker had the benefit of starting with pretty much a blank slate. Therefore they’ve been able to consume a lot of the ‘smorgasbord’ of ApplyOnline services that NextGen.Net provide,” says Carn.

As part of its national launch agenda, My Local Broker will be visiting all major cities in conjunction with the MFAA ‘Broker 2020’ series.