Innovation drives new aggregator partnership

by Phil McCarroll21 Sep 2016
Aggregator eChoice has expanded its lender panel after entering into a new industry partnership with non-major lender Bank Australia.

The aggregator announced the partnership yesterday and said Bank Australia’s focus on digital innovation was a key driver behind the decision.

“Bank Australia has an established reputation in the industry for continually developing ways to incorporate digital efficiencies into their processes to set new industry benchmarks,” eChoice general manager of aggregation Blake Buchanan said.

“And now, by combining that level of experience and support with their quality product offering, eChoice brokers can offer customers the opportunity to benefit through this latest, key addition to our partner program,” Buchanan said.

Earlier this month, Bank Australia claimed to have made history in the mortgage industry, completing what is believed to have been Australia’s first ever electronic mortgage.

Both Bank Australia and eChoice believe that technology holds numerous benefits for brokers and consumers and is a key step in streamlining the mortgage process.

Richard Irving, head of third party banking at Bank Australia, said the lender views the partnership with eChoice as an opportunity for it to continue to develop its offerings to better suit the needs of brokers and consumers.

“We look forward to partnering with eChoice to further develop our approach with brokers to ensure we meet the evolving needs of a consumer-driven environment,” Irving said.

The announcement of the partnership between eChoice and Bank Australia follows the aggregator’s announcement that it has recently launched a new online refinancing portal, with it expecting a spike in the number of borrowers looking to change their current loan arrangements.