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A broker has built and launched a new AI-driven tool that helps brokers search and identify relevant lender policy information.
A new AI platform, Cynario, has been developed and launched by former MoneyQuest broker Michael Richardson (CEO) and seasoned technology executive Russell Lewis (CTO) to help brokers navigate lender mortgage policies.
The platform harnesses a user-friendly interface similar to generative AI models that enables brokers to ask detailed policy questions and compare lenders. Answers are provided by Cynario’s AI residential policy specialist avatar, Charli.
For example, a broker could inquire about lenders offering 95 per cent loan-to-value ratios with waived lenders mortgage insurance for medical professionals. Charli would then provide a list of lenders that can service this and details of their policies.
The platform is designed to provide rapid policy guidance responses, delivering relevant policy information from the 30-plus lenders on the platform within seconds, thereby helping brokers more quickly prepare relevant credit advice.
It also includes an AI marketing tool, via an avatar called Alex, for generating client communications, drafting educational blogs, and creating social media content based on lender policy updates and scenarios.
The tool – which has been piloted by over 200 MoneyQuest brokers over the past few months – will officially open up to market on a subscription basis next Monday (5 May).
It is available to all brokers with an Australian Credit Licence (ACL) or Credit Representative Number (CRN), regardless of aggregator.
While the platform is launching with home loan policies only, it is expected that the tool will expand into asset finance in the next 12 months.
It will also soon offer a weekly AI-generated podcast wrap-up of weekly lender policy updates.
Speaking about why he launched Cynario, CEO Richardson said: “Brokers are overwhelmed by the complexity and constant change of lender policies. We’re removing that friction, giving brokers the power to research, compare, and act with clarity in seconds, not hours. When brokers have instant, intelligent access to the right information, they can serve more clients, write more loans, and scale their businesses with confidence.”
Addressing comparisons to existing industry resources, Richardson highlighted Cynario’s real-time updates and direct relationships with lenders for data acquisition, which he said are sometimes more up to date than actual lender policies (given administrative delays at the lenders).
“Maintaining strong broker relationships is critical for lenders, however traditional methods of communicating policy changes are slow, inconsistent, and easily missed. Cynario bridges that gap by delivering instant policy updates directly into brokers’ hands, ensuring lenders stay front-of-mind and helping brokers match the right customers to the right products, faster and more accurately,” he said.
“Cynario is built to meet the real-world demands of a modern broker: fast, mobile, intelligent, and integrated. We’re not just building software; we’re leading a shift towards a smarter, more connected industry where brokers, lenders, and clients all thrive.”
Commenting on broker trial, Julian Mattatia, general manager of business growth at Money Quest Group, told The Adviser: “The MoneyQuest Group (MQG) has always embraced innovation and fostered a strong sense of community. So, when Michael Richardson introduced us to Cynario, we immediately recognised the potential benefits it could deliver to mortgage brokers across Australia.
“Over 200 MQG brokers participated in the beta testing program, providing valuable feedback that helped Michael refine and enhance the platform even further.
“The Cynario trial generated a real sense of excitement and engagement within our group, as brokers not only experienced firsthand the advantages of the technology but also played an active role in shaping the development of this innovative and highly practical AI solution for our industry.”
Lenders have also welcomed the development of the new tool, with Tony MacRae, chief commercial officer at non-bank lender Bluestone Home Loans, saying Cynario was “a truly exciting development for our industry”.
“By transforming how brokers access and navigate lender policies, it’s creating new efficiencies and setting a new standard for broker support. We’re proud to be part of this next chapter,” he said.
Broker-built tech on the rise
Brokers are increasingly building new technology platforms to overcome common broking challenges, to great success. Broker-created CRMs such as BrokerEngine (now owned by aggregator AFG) have long been a favourite among loan writers, while serviceability solution provider Quickli has won over many hearts and minds, with its ability to bring together multiple calculators (including lender calculators and borrowing power ones) in one platform. Similarly fintech and asset finance brokerage Loanoptions.ai recently unveiled its new AI-powered tool, HAILO, which aims to make the mortgage application process faster and easier for brokers and clients alike.
You can find out more about the technological innovations in the broker space in the April edition of The Adviser magazine, out now!
[Related: Brokers who ignore AI will be left behind – staying ahead is easy]
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