Jacaranda Finance to launch 'neo-broking' service

by Madison Utley16 Nov 2020

The team at a non-bank lender has announced plans to establish the “first 100% online finance brokerage” in Australia, to go live in 2021.

While the minds behind Brisbane-based fintech Jacaranda Finance are working as a unit to launch the “full-service neo-broking suite”, the entity scheduled to come in the next year will be run independently from the lender.  

The new platform will be constructed to provide digital-first broking services to Australians, offering a wider array of tailored options to consumers with the goal of delivering market-leading response times. 

As such, it will come with a full suite of digital broker tools including biometric digital identification, minimal touch digital loan applications and digital bank statements.  

The Jacaranda Finance team has attributed the decision to create the neo-broker to the group's willingness to work with other digital-only lenders, as well as a desire to expand their service offering to consumers. 

Since launching six years ago, the fintech lender has offered personal loans through a proprietary online-only application; with the launch of the new service some time next year, Jacaranda Finance aims to be able to work with new digital loan providers that are aligned with their 100% online ethos across not only the personal loan but also the car loan, business loan, and home loan space. 

The team has promised more details are to come later in 2020; while some partnerships have already been confirmed for the 2021 launch across each product vertical, the group remains open and eager to joining forces with additional digital loan providers interested in joining the venture of building Australia’s first neo-broker.