Bendigo Bank Broker partners with 2 more aggregators

The bank has said that the partnership will allow more than 1,000 brokers to offer Bendigo Bank products to their customers.

Bendigo Bank loans became available to all Adelaide Bank accredited Specialist Finance Group brokers on 26 March, whereas outsource Financial will have three stages of progressive onboarding, starting from 2 April, for Adelaide Bank accredited brokers.

Bendigo Bank Broker launched in November 2023, with Finsure being the first aggregator to partner with the bank and use its new digital lending platform.

Richard Fennell, chief customer officer for consumer banking at Bendigo Bank, said that the launch of Bendigo Bank Broker was successful and that the bank plans to “get more aggregators on board”.

Fennell said: “We are very encouraged by what we have seen in the first phase of the roll-out, receiving more than 450 applications since launch in late 2023, with a median time to initial credit decision in under six minutes.”

The general manager of third-party banking Darren Kasehagen said that the partnerships with outsource Financial and Specialist Finance Group were “just the beginning”.

Kasehagen said: “Now we have Finsure, Specialist Finance Group and outsource Financial all using our new Digital Lending Platform, a rolling onboarding program has been set with our additional aggregators coming on board progressively over the coming months.”

According to the general manager, Bendigo Bank Broker will be available to more than 16,000 brokers once the bank has onboarded all aggregators.

He continued: “Bendigo Bank Broker is for brokers who want better. We combine strong business relationships and enhanced digital processes to deliver a broker-focused, service-driven platform for brokers across the country.

“We’re committed to being there for our brokers – so they can be there for their customers. We’re excited to have two more fantastic Australian aggregators and valued partners in outsource Financial and Specialist Finance Group now on board.”

The chief executive of outsource Financial, Tanya Sale, said: “I have been extremely impressed with the level of care and planning that Bendigo Bank has put into this changeover. Their commitment to ensuring a seamless rollover, with minimal disruption to broker business operation and impact on active accreditations, is to be commended.

“You can really see the thought and consideration, for brokers and aggregators alike, that has been invested in this project.”

Specialist Finance Group general manager Blake Buchanan said he was “thrilled” the aggregator's broker network could now offer Bendigo Bank products.

Buchanan said: “Bendigo has a wonderful brand that has been sought after by brokers for many years, it is pleasing to now be able to offer consumers their products through our brokers. I congratulate Bendigo for their significant investment into the broker channel.”

[Related: Bendigo Bank opens up to broker]