The major brokerage has revealed that its new open banking import is saving brokers around 90 minutes per loan application.
Mortgage Choice (part of the REA Group) has revealed that since integrating open banking into its proprietary Broker Platform, brokers have saved an average of 90 minutes per loan application.
The major brokerage partnered with technology provider NextGen to make its Financial Passport feature available to the brokerage’s entire broker network in June, enabling brokers to directly import customer financial data via open banking (when they received permission to do so under the trusted adviser model).
Brokers can now import asset, commitment and living expense data into scenarios in Broker Platform.
In October 2025 alone, Mortgage Choice brokers completed over 2,300 client data requests.
The aggregator estimates the update is saving brokers around 90 minutes per loan application.
Speaking of saving time, Nicole Devine, the executive general manager for product at Mortgage Choice, said the technology is helping to reduce the administrative load on brokers and improve efficiencies.
“In 2025, my team's mission was clear – we wanted to empower our brokers with tools that improve the way they work and create faster pathways to approval for their customers. Each update we’ve delivered to our Broker Platform has brought us closer to achieving that goal.
“By moving from document collection to data import, we are cutting down the most tedious part of a broker's job. The ability to import open banking data delivers huge efficiency gains for our brokers.
“When you combine the 20 minutes saved on manual data entry, 40 minutes on verification and 30 minutes on chasing clients for information, brokers will save at least 1.5 hours on each deal.”
Mortgage Choice brokers have reported that the open banking integration has transformed their workflow, making banking data access secure, accurate, user-friendly, and free, while greatly improving client experience and efficiency.
The major brokerage has undertaken a range of technology upgrades and digital transformation this year.
Alongside enhancements of the core Broker Platform system, Mortgage Choice has also rolled out customer relationship management (CRM) upgrades, a comprehensive suite of artificial intelligence (AI) tools and the launch of the Mortgage Choice AI Academy.
It also pushed out further enhancements to its Quickli integration, first delivered in August.
Previously, data from Quickli could be retrieved and imported for applicants who were part of an existing Broker Platform scenario. The new update eliminates manual re-entry of new applicants from Broker Platform into Quickli, maintaining one-to-one mapping between applicants even for scenarios that evolve after initial linking. This ensures all applicant data is centralised and up to date across systems, according to Mortgage Choice.
Devine concluded: “Our latest upgrades mark the final stage of a significant year of technology investment for Mortgage Choice. Our network is poised to enter 2026 with a platform that saves them time and helps them deliver a more seamless customer experience.”
[Related: Mortgage Choice turns on open banking]
