Connective welcomes 86 400 to its panel

by Madison Utley24 Sep 2020

Connective has welcomed 86 400 to its lender panel, joining the 11 other aggregators and partners the neobank has announced alliances with in recent months.

With having joined forces with Connective, more than half of all brokers in Australia can now offer their clients 86 400 home loans. 

According to Connective executive director Mark Haron, “86 400’s approach to mortgages is transforming the process of buying a home for Australians."

“We look forward to working with the team to provide home buyers with greater choice and better value through our extensive broker network,” he said. 

To Robert Bell, 86 400 CEO, each of the banks’ rapid-fire partnerships represents a significant opportunity to grow the group's footprint. 

“Brokers and their customers want something that’s digital and easy to use: that’s why we developed our digital home loan product, and that’s why we’re thrilled to have partnered with Connective to help more Australians realise these benefits," he said. 

“Consumers are fed up with mortgage paperwork, so we’ve built a process with next to no paperwork. They’re fed up with slow processing, so we’re speeding it up with decisions made in just a few hours. They’re fed up with high fees and rates so we’ve brought in low fees and great rates."

86 400 is a fully licensed bank with both home loan and everyday banking products in market; while many other lenders’ approval times have been lengthening given the turbulence around COVID-19, the neobank has been providing decisions in hours. 

“We’ve said from day one that we’re not interested in building a niche bank. We have a long-term, sustainable business model, which balances both sides of the ledger, and are busy building and rolling out products and partnerships we know our customers want,” Bell concluded.