P2P lender partners with leading aggregator

by Miklos Bolza07 Mar 2017
Peer-to-peer lender RateSetter has announced a partnership with national mortgage aggregator Connective, giving accredited brokers access to their range of personal loan products.

By joining Connective’s lending panel, RateSetter will help brokers improve their client’s financial wellbeing in areas outside of the traditional mortgage offerings, said RateSetter CEO Daniel Foggo.

“Whether it’s helping clients renovate their home, purchase a car or pay down expensive credit card debt, RateSetter’s low-rate personal loans will give Connective brokers a new way to help their clients achieve their financial goals, while helping them diversify and grow their business.”

RateSetter’s flexible terms, simple application process and rates up to 7% p.a. lower than traditional lenders give brokers a new way to help clients accomplish their financial goals, Foggo told Australian Broker.

“We’ve received great feedback from our existing brokers. They tell us that working with RateSetter provides them with greater opportunities to engage with customers beyond traditional mortgage and insurance products, helping them build stronger client relationships and diversifying and growing their own businesses.”

The partnership will also provide member brokers with an important avenue to offer clients financial solutions outside of typical lending channels, said Brent Starrenburg, head of asset finance at Connective.

“We believe natural synergies exist between Connective and RateSetter given both companies were founded as industry disruptors which challenge the status quo in their respective markets.”

The move is part of RateSetter’s ongoing focus on the broker channel to continue its growth in consumer and business lending.

“The broker channel is something we’ve always seen as a very important part of our growth strategy. RateSetter in the UK has a significant presence in the broker channel there, and we certainly see it as being really important in Australia,” Foggo said.

“By offering brokers highly competitive rates, a simple, flexible product and excellent support, we will give borrowers a better deal and help brokers grow their businesses.”

All RateSetter personal loan products will be available to Connective brokers effective immediately. The lender’s business finance products are expected to be rolled out to brokers in the second half of this year.

“In terms of what comes next with our partnership with Connective, we’re excited for the roll out of RateSetter business finance to Connective brokers in the second half of 2017.”

Related stories:

Aggregator launches online compliance tool for brokers

Challenger bank announces controlling interest in P2P lender

Collaboration to boost broker client retention