Starting from next week, products from SocietyOne, Plenti and Wisr will be available for users of the fintech’s loan origination platform.
Nodifi has announced the inclusion of personal loan products to its loan origination platform, starting from 1 December.
Under this arrangement, users of Nodifi’s loan origination platform will be able to access products from SoicetyOne, Now Finance, Plenti and Wisr.
However, it’s also expected that by early 2022, a future white-label release will be released on the platform, “providing brokers with direct-to-customer personal loan journeys”.
According to the asset finance fintech, the main factor for its foray into personal lending was “broker feedback and consumer demand”, as well as how the inclusion of these lenders will allow mortgage brokers to run quote comparisons and process applications.
Nodifi chief executive Tom Caesar said that it reflects the fintech’s awareness of a changing broking environment – one that is shifting away from home loans being a broker’s only true product offering.
“Nowadays, brokers are demanding a wider-breadth of finance solutions for their clients, which is being driven by consumer demand,” Mr Caesar said, noting that personal loans are also one specific product that’s increasing in popularity.
“Typically, this has been a product overlooked by many fintech service providers, and this is something we want to rectify.”
Speaking of the incoming introduction of Nodifi’s white-label solutions, Mr Caesar elaborated that, in this day and age, “generic service offerings are severely outdated”.
“Everything we’ve done to date – and will continue to do in future – is to better align with increasing expectations and to leverage new technologies,” he said.
“That’s a key reason why we’ve decided to roll out the white label solutions. It’s about giving mortgage brokers the best tools to satisfy ever-evolving client needs.”
Sam Nichols is a journalist at The Adviser and Mortgage Business. His reporting has featured in a range of outlets including ABC News, SBS' The Feed, and VICE.
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