Joust introduces supplier sign-up portal

The portal is also said to have been created to “inform and educate brokers about Joust’s B2B proposition”, namely Instant Match – a tool that allows lenders and brokers to connect with borrowers and bid on mortgage applications.

In March 2021, Joust confirmed that more than half of the mortgages placed through Instant Match were being won by brokers. 

Further, the fintech confirmed in the wake of this statistic in July that it had expanded Instant Match to connect brokers to borrowers. 

As per Joust chief executive Carl Hammerschmidt, the decision to introduce this portal came from the recognition that there was a need to simplify the sign-up process.

“We wanted the page to speak to the pain points we know brokers are facing – and state how we are addressing those,” Mr Hammerschmidt said. 

Mr Hammerschmidt said one of these pain points was brokers struggling to get in touch with prospects, which is said to now be addressed by the fintech using “SMS technology to verify the phone number” of these prospects. “We speak to this and other areas on the page,” the CEO said. 

Mr Hammerschmidt added that the ideology for this page was to “keep it simple, clean and to clearly articulate what we do and the benefits for brokers”, and that the portal will be refined over time.  

“Industry feedback has been fantastic and the metrics speak for themselves. Great conversion rates are critical to Joust in more ways than one,” he said.  

“Understanding the market helps when working on projects like this. Next time around we are planning on looping in some of our trusted partners to be a part of the process. 

“That’s something exciting and we look forward to. For now, it’s all about bringing more quality mortgage brokers onto the platform – and this page is certainly helping.”

The focus on brokers comes roughly two years after the fintech first began working with brokers in 2020, following its merger with reverse auction platform LoanDolphin.

Speaking at the time, Mr Hammerschmidt said that the merged entity would be “accessible and effective for lenders of all types, whether that be banks, brokers, non-bank lenders or neobanks”. 

“If a lender is able to provide value specific to a customer’s needs, then they will be competitive,” he said.

“Joust users are able to access all of the major banks, and many of the larger credit unions and regional banks. Brokers and non-banks are also all available on the platform.”

[Related: Joust launches broker-borrower matching service]