Aussie Home Loans are to offer a new product that targets the digital borrowing market directly. They have partnered up with fintech Tic:Toc to launch a digital lending offering that will be branded as Aussie Online.
According to Aussie, it will make them the first player on the home loan market to combine brokers, branded home loans and a digital lending product.
“We have a track record of always choosing best in breed partnerships and this is no different,” said Aussie CEO James Symond. “Tic:Toc are ahead of the market in this digital space, and by partnering with them we’ve been able to draw on their technology and insights for the growing segment of consumers who want to be self-directed in finding their home loan online.”
“Now, our ‘three-in-one model’ means borrowers can choose to talk to an Aussie Broker, who can access a range of home loan products, including Aussie-branded home loans, or they can choose to self-serve with Aussie Online.”
This is another big name move to graduate the fintech sector from the margins of Australian banking to the mainstream. Aussie have also recently acquired Lendi, an online home loan platform.
“Tapping into the fintech space is just one part of our growth strategy to support a robust broking industry which puts consumers first,” said Symond. “Aussie Online is about giving customers the best of both worlds. With a trusted brand like Aussie, we’re appealing to the buying behaviours of a more diverse range of borrowers, no matter how they want to shop for a home loan.”
It adds an extra level of relationship that brokers and borrowers can have with one of the biggest names in mortgages in Australia.
“While the evidence shows the majority of consumers will continue to use a broker, there is a growing cohort of consumers who want to be self-directed in finding their own home loan online,” added Symond. “We’re creating an opportunity to seamlessly introduce consumers who don’t typically start their home loan journey with a broker, and fall out of the application process online, to the Aussie Broker experience.
“Ultimately, we’re giving consumers more ways to connect with Aussie so they can achieve their home ownership goals sooner.”