Aggregator kicks off FY20 with record settlements

by Madison Utley08 Nov 2019

An aggregator has recorded a strong start to the 2019-20 financial year, achieving record settlements of $3.5bn for the September quarter as well as charting an 8.8% increase in broker numbers year on year.

Finsure is off to a strong start for the financial year, also closing the quarter off on a high by achieving record monthly settlements of $1.21bn, a 13% rise year on year,” said Finsure GM of aggregation Simon Bednar.

“This brings the total aggregation loan book to $39.8bn, which is an outstanding performance in a subdued lending market environment.”

“Finsure broker numbers also increased by 132, year on year, representing growth of 8.8% as Finsure continues to diversify its revenue base away from commission splits to recurring earnings from fees, subscriptions, training and compliance.”

The group has linked the strong figures to its proprietary Infynity CRM platform, which is “the most up to date CRM in the market” according to Bednar.

“Infynity uses predictive data to provide insights into broker behaviour, empowering brokers to proactively make changes to their business rather than relying on retrospective reporting and past behaviour,” he explained.

“It’s built with an understanding that compliance is a business enabler, not an inhibitor. In this time of increased compliance oversight, Infynity allows brokers to monitor their behaviour and identify potential issues within the business before they become concerns.

“In the current challenging lending environment, those who leverage technology to provide the strongest broker offering will ultimately be the most successful in the market.”