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ASX-listed lender partners with AFG

by Huntley Mitchell7 minute read
The Adviser

A listed marketplace lender has announced a partnership with one of Australia’s largest aggregators, as it looks to grow its presence in the third-party channel.

In an ASX update released yesterday, DirectMoney said its partnership with AFG reflects the group’s ongoing strategy of establishing and growing a distribution platform for its personal loan products through the broking industry.

“AFG has a well-established and significant national footprint, and we are excited about the opportunity to provide their members with access to DirectMoney’s online personal loan platform,” DirectMoney executive chairman Stephen Porges said.

“AFG’s members process approximately 9,000 mortgages a month and we envisage supporting many of these borrowers with our unsecured personal loan product – this represents a significant additional opportunity for DirectMoney.”

Mark Hewitt, general manager of sales and operations at AFG, said DirectMoney is a great fit for the aggregator’s lending panel and further demonstrates its commitment to helping brokers grow their businesses.

“AFG brokers are at the forefront of technology with our suite of bespoke tools to make the home loan process seamless,” he said.

“The addition of the DirectMoney platform for personal loans will now provide our brokers and their customers with a great user experience and access to the latest products available in the marketplace.”

[Related: DirectMoney outlines broker strategy]

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