Finsure's recent acquisition of LoanKit caused a splash in the broker space, but what exactly were the motives behind the move? On this week's Australian Broker TV we caught up with Finsure's Director John Kolenda to talk about what the future holds
Video transcript below:
Anna Temple, Australian Broker Online
Anna Temple: Finsure’s recent acquisition of Loankit made a splash in the broker space, but what were the reasons behind this acquisition. We caught up with Finsure Director, John Kolenda, he says the move to acquire Loankit made sense on a number of different levels.
John Kolenda, Finsure Finance and Insurance
John Kolenda: Since we started last year, there have been a number of acquisitions we’ve made and Finsure’s acquisition of Loankit made a lot of sense on a number of different levels. One was, it gave us size and scale, the other one was that there are a number of components or assets within each group that joined together make it a very compelling proposition to our brokers and also to their consumers.
Anna Temple: Kolenda says the two together make a solid platform and the plan moving forward will be mainly concentrating on what they both individually do best, whilst obviously capitalising on any opportunities produced by the new acquisition.
John Kolenda: Well I think Finsure and Loankit together with the number of the assets we have built over the last 18 months, we have a very strong platform where we will use the assets of both entities to really bolster up our offering and we will keep them both separate. They also offer in some regards different channel opportunities for us to grow our broker acquisition and recruitment.
So you know overall we see both businesses running very well side to side. We are used to also running multi brands. So you know example a lot of the online strategies where we are you know generating a lot of leads and the acquisition of a lot of urls, so we are used to running multiple brands and also multi channel offerings to our brokers.
Anna Temple: Finally Kolenda says the hunt for new acquisitions is never over. As Finsure looks to bolster their numbers in order to drive greater value for their brokers.
John Kolenda: We are keen to still keep looking at opportunities to acquire. No doubt you know, we are doing very well on our own organic growth, but I will always be actively looking to see if there is any other acquisition opportunities in the aggregation space.
We want to bolster our numbers and also you know with size and scale you get the opportunity to drive greater value for your brokers and you know we see that as key feature of our proposition.
Anna Temple: This is Anna Temple reporting for Australian Broker Online.