Open banking provider Frollo has launched Frollo for Brokers, a new portal to streamline mortgage applications using secure, real-time financial data.
The launch comes as artificial intelligence and digital innovation rapidly transform Australia’s mortgage sector. Lenders and brokers are increasingly adopting open banking and AI to reduce costs, enhance compliance, and meet rising consumer expectations for faster, more transparent service.
Since joining the NextGen business, Frollo has worked closely with NextGen to embed open banking capabilities into its ApplyOnline platform. This integration is already live with aggregators Connective, Finsure, and Mortgage Choice, as well as major lenders CBA and Westpac Group.
The new solution expands that access to all brokers, delivering what Frollo describes as a “transformative” tool for streamlining data collection.
Together with its parent company, NextGen, Frollo is shaping a more connected financial ecosystem. NextGen’s ApplyOnline platform connects over 60 lenders and 98% of brokers, enabling end-to-end digital lending experiences.
With client consent, brokers can now obtain verified account statements and financial insights directly from financial institutions – eliminating the need for time-consuming paperwork.
“We are providing brokers with the choice to use open banking to deliver fast, safe, and more transparent experiences for their clients,” Renee Blethyn (pictured), head of broker partnerships at NextGen, said in a media release.
“They no longer have to rely on screen scraping methods to access client account statements – an approach that’s becoming increasingly obsolete as banks phase it out over security and compliance risks.”
Frollo said its system automates the categorisation and interpretation of data using AI, giving brokers fast, actionable insights to improve fact-finding and speed up loan approvals.
By replacing manual documentation with secure, real-time access to permissioned data, brokers can significantly reduce application time and improve accuracy. Early adopters report saving hours on each application while improving data quality and reducing the need for rework.
Frollo for Brokers also supports broker compliance by aligning with lender expectations for verified income and expense reporting under the Consumer Data Right (CDR) framework.
For borrowers, the tool offers a secure alternative to traditional methods of sharing financial documents. Clients no longer need to download and upload months of bank statements manually, with open banking providing a faster and more secure pathway.
NextGen said the launch is part of its broader strategy to lead the industry in secure digital innovation.
Frollo for Brokers is now available across the country. For more details, visit frollo.com.au/broker.
