Brokerage co-founders to exit the business

Mr Kalajzich (chief executive of the platform division business) and Mr Lam (chief information officer) co-founded Lendi alongside David Hyman (group CEO) and Sebastian Watkins (chief operating officer) in 2013.

The duo have been driving the technology side of the brokerage, which last year acquired major broking franchise Aussie to form Lendi Group.

However, the two co-founders are set to leave in the coming months, with the announcement coming just weeks ahead of the group’s roll-out of the Lendi Group’s technology Platform (currently being used by the Lendi and Domain Home Loan channels) to Aussie brokers.

The online home loan platform aims to help streamline the home loan application process, among other benefits.

It is expected that Mr Kalajzich will leave the company on 31 December while Mr Lam will stay with the group until 30 June 2023 in order to help oversee the roll-out of the platform to Aussie brokers.

The reason for the co-founders’ departure has not been released.

Confirming the leader departures, Lendi Group told The Adviser: “Lendi Group has commenced an executive search to identify the leadership structure to deliver and extend Lendi’s market-leading technology and platform ambitions for the group. 

“Lendi Group is committed to transforming the home loan industry via Lendi Group’s powerhouse of property brands including Lendi, Aussie and Domain Home Loans.”

Aussie brokers experiencing technical issues

As well as the news of the co-founder departures, Aussie brokers this week reported they were experiencing some technical issues with their online systems*.

The Adviser understands that issues with the Aussie system began over the weekend, with some brokers unable to log in and others unable to lodge loans.

While some brokers had told The Adviser that they continued to have issues on Tuesday (15 November) morning, the problems appear to have been largely resolved that afternoon.

The new Lendi Group focused on tech

The technological power of Lendi was a key component for the basis of the Aussie-Lendi merger, with Lendi having reportedly spent “millions” building its systems.

Speaking to The Adviser last year, the group CEO Mr Hyman suggested that the merger would marry the face-to-face component of mortgage broking with the online brokerage’s digital prowess.

He said at the time: “In a ‘clicks-to-bricks’ approach, we’ll be able to take those online customers and direct them into a store experience, whether that’s in person, whether that’s via chat with the franchisee/broker in store, or one of the hundreds of Aussie brokers around the country.

“So, in whichever way, shape or form the customer drives the experience, it will be truly omni-channel.”

Lendi Group said at the time it hoped to “bring together two [mortgage] businesses that are at the top of their game in their respective part of the markets” into one, with both the Aussie brand and the Lendi brand remaining in market but moving to adopt more of the Lendi technology.

The Lendi Group now comprises three business divisions: distribution — headed up by Aussie chief sales and distribution officer and new divisional CEO, Brad Cramb (working with group chief operating officer and Lendi co-founder Mr Watkins); lending — headed up by the Aussie chief customer officer and new divisional CEO David Smith; and platform (headed up by divisional CEO Mark Kalajzich).

*This story was updated on 16 November to reflect the co-founder announcement took place before, not after, Aussie brokers started experiencing technical issues. 

[Related: The next steps for the Lendi Group]