AFG’s network of mortgage brokers are now able to access Stryd Broker through AFG’s single-stop tech platform.
Australian Finance Group (AFG) has partnered with Perth-based fintech Stryd to give the ASX-listed aggregator’s broker network access to open banking-powered retention software.
Launched to AFG brokers last Thursday (19 March), Stryd Broker gives a single, real-time view of their residential loan customers and overall loan book. Brokers can access the software through AFG’s tech platform, Suite360.
By obtaining Consumer Data Right (CDR) consent from clients, brokers can access real-time open banking data on current loans.
The system then generates triggers and alerts based on the insights gathered.
AFG and Stryd said they had been testing the tech benefits since last year, with a pilot group of broker businesses using retention features to generate more than $6 million of potential first-year interest savings for borrowers across $1.1 billion in loans.
Stryd Broker can also be used to deliver insights into equity positions through an automated property valuation model and offers tools to boost business performance, including tracking conversations and managing client outreach.
Brokers can reportedly go live with minimal effort, thanks to a secure API integration built between the two systems.
Sam McCready, AFG Chief Digital Officer, said the integration means AFG brokers have access to a tech-enabled retention tool and customer service workplace “all in one central location”.
“Stryd provides critical visibility for brokers to see all their customers’ loans and proactively monitor their book for new opportunities in today’s market,” he said.
“This digital monitoring is designed to eliminate manual and reactive work by making retention proactive, and it also offers the benefits of open banking.”
He added that the broker channel is central to AFG’s corporate strategy, with technology remaining a core pillar of its growth.
“Offering advanced technology solutions is one way we are expanding and enhancing our broker network,” he said.
Meanwhile, Ruth Hatherley, Stryd founder and CEO, said AFG brokers would benefit from enhanced visibility across their loan book.
“With a single sign-on to Suite360, brokers can navigate directly to Stryd, without needing to manage a separate login or re-authentication process,” she said.
“By signing up for our integrated solution, AFG brokers will find everything is set up in Stryd, so they can instantly view all their customers, assess their alerts and take action to improve their loan book retention programs.
“Importantly for customer experience, Stryd delivers these benefits using the logo, branding, tone of voice, email address and customised signature of the individual AFG broker.”
