One of Australia’s largest aggregation groups has announced a partnership with retail peer-to-peer lender RateSetter, with the aim of helping brokers offer clients a more holistic financial service.
Under the partnership, more than 3,000 brokers accredited with Connective will be able to offer their clients personal loan products from RateSetter.
Brent Starrenburg, head of Connective Asset Finance commented: “Our partnership with RateSetter will provide our member brokers with an important avenue to offer their clients financial solutions that sit outside traditional lending channels.”
He added that there were "natural synergies" between the two companies as both were "founded as industry disruptors".
News of the partnership comes after RateSetter CEO Daniel Foggo recently emphasised that one of the lender’s main goals this year is to “dive deeper” into the broker channel.
According to Mr Foggo, joining Connective’s lending panel will help accredited brokers improve their clients’ financial wellbeing outside of traditional mortgage and insurance offerings.
The RateSetter CEO commented: “Whether it’s helping clients renovate their home, purchase a car or pay down expensive credit card debt, RateSetter’s low-rate personal loans will give Connective brokers a new way to help their clients achieve their financial goals, while helping them diversify and grow their business...
“It’s our mission to give creditworthy Australian borrowers a better value alternative to traditional lenders, and we see working with aggregators like Connective as an incredibly important part of how we’re going to accomplish this,” he elaborated.
RateSetter’s personal loan products are available to Connective accredited brokers immediately, with the lender’s business finance products expected to be rolled out to brokers in the latter half of the year.