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Neo-lender banks on brokers with new partnership

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Charbel Kadib 6 minute read

A new entrant in the lending space has partnered with a mortgage aggregator to secure a national distribution network to realise its ambitions in the mortgage market.

Neo-lender 86 400 has partnered with Yellow Brick Road (YBR) subsidiary Vow Financial, as it prepares to launch its home loan offering following its receipt of a full banking licence from the Australian Prudential Regulation Authority (APRA).

According to 86 400, the partnership would enable it to deliver home loans via Vow Financial’s network of over 1,200 brokers.

Robert Bell, CEO of 86 400, noted the importance of the lender’s partnership with Vow.  


“We didn’t set out to create a standard home loan product – we are building an entirely new approach to the home loan process that will make life easier for brokers and deliver better value to customers,” he said.

“Mortgage brokers have long driven competition and choice for consumers, and we’re excited to be on the panel of lenders of Vow Financial, one of Australia’s largest aggregators.”

Clive Kirkpatrick, general manager of YBR, welcomed the lender to the aggregator’s panel.

“86 400 is completely transforming the home loans process, providing more choice to home buyers,” Mr Kirkpatrick said.

“We look forward to continuing to work with 86 400 to provide Aussies with better value when it comes to buying a home.”


86 400 also recently announced partnerships with leading mortgage application software providers Simpology and Loanworks, which are both integrated with 86 400 and in testing.

The digital lender has previously stated that it expects to receive a full banking license from APRA in “early 2019”, which would allow it to officially launch its home loan offerings.

Volt Bank was the first challenger bank to receive a full ADI licence, with APRA approving its application in January.

Fellow neo-lender Xinja Bank also received a restricted ADI licence in December 2018 and is expecting to secure a full licence later this year.

[Related: Challenger banks look to a ‘new era’ in banking]

Neo-lender banks on brokers with new partnership
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Charbel Kadib

Charbel Kadib

Charbel Kadib is the news editor on The Adviser and Mortgage Business.

Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.

Email Charbel on: This email address is being protected from spambots. You need JavaScript enabled to view it.


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