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The fintech has revamped its broker platform to give brokers access to detailed insights into their SME clients, in a bid to drive deeper relationships.
Shift, a provider of credit platforms to brokers and their clients (formerly known as non-bank SME lender GetCapital), has unveiled the latest release of its new broker platform Shift Connect, focusing on giving brokers more access to client insights and data.
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The free-to-use platform offers accredited brokers with a real-time view of their clients’ financial position – such as income and expense data, broken down by month – and harnessing application programming interface (APIs) with relevant ASIC registers and government databases to verify and outline the clients’ business structure and liabilities.
As well as outlining details of the business (for example, names of business directors and size of the company), the platform can also run credit scores, show financial commitments with other lenders (including any missed payments) and provide brokers with a snapshot of the clients’ cash flow and any adverse markers on credit files.
While the platform provides brokers with an indicative range of Shift products suitable for the SME, the fintech has said that brokers can still use the platform even if they’re not lodging a deal to them.
Shift has been demonstrating the new platform to brokers at a series of events this month, with the Sydney event held on Thursday (17 March).
Speaking following the Sydney event, Kristian McCausland, sales director of Shift, said the aim of the new platform is to give brokers the information they need to “gain a deeper understanding of, and have better conversations with, their clients” and determine the “best financial solution” for them.
“We’ve been working on this release since we rolled out Shift Connect last year,” he said.
“With this release we’ve created a dashboard that not only presents data, but takes it to the next level by turning it into actionable insights that brokers can use on-demand to engage with clients.
“For instance, we’re analysing information in real-time from streaming transactional banking data so that brokers can easily see thresholds the client may be eligible for when it comes to asset finance and cashflow products.
“This latest release is in response to brokers telling us that while accessing information for clients is great, they really need it presented in a way that can take the process of reviewing and recommending products to a customer down from days or hours to minutes. This is what Shift Connect does.”
[Related: GetCapital relaunches under new name]
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