ISCOVER
The two fintechs have collaborated to help brokers access both BankStatements.com data and real-time transaction data from clients.
Consumer credit reporting service Experian and fintech platform Stryd have joined forces to launch an open banking-powered loan matching solution that gives brokers a new way to re-engage clients across the full loan life cycle.
Launched on Wednesday (9 July 2025), the collaboration lets brokers access real-time financial data via BankStatements.com.au – an Experian-acquired platform – and product information from Stryd, which catalogues more than 2,000 mortgage products from 85 bank brands.
According to the two platforms, joining Experian’s affordability and behavioural data with Stryd’s PRD-enabled product pricing and risk engine will enable brokers to better match clients to suitable loans and maintain engagement throughout the loan life cycle, including post-settlement.
Rather than relying on periodic static updates, such as an annual loan review, the combined solution intends to enable dynamic event-based triggers, such as changes in cash flow, repayment behaviour, loan-to-value ratio, or product competitiveness, to prompt timely broker intervention.
Eventually, the collaboration aims to reduce brokers’ reliance on periodic status updates, such as an annual loan review, and move towards event-driven alerts and real-time customer insights.
Simone Jemmett, Experian’s managing director, open data solutions, A/NZ, said the collaboration will ultimately enhance brokers’ ability to re-engage clients at the right moments, particularly as brokers often lose visibility of customer data once a loan settles, limiting their ability to re-engage strategically.
“This collaboration will help brokers act in their customers’ best interests – from first application as well as automatically monitoring for refinancing triggers in later years,” she said.
Meanwhile, Ruth Hatherley, Stryd’s CEO and founder, said the collaboration will prove an effective post-settlement tool.
“At a time when affordability is under pressure, brokers need to do more than originate loans – they need tools to retain and support customers long after settlement,” she said.
“Together, Experian and Stryd hope to give brokers that edge – more transparency, more intelligence, and more value across the full customer journey.”
Best interests
The innovation comes as borrower stress increases.
Recent data from illion, an analytics provider owned by Experian, revealed that the number of Australians at risk of credit default rose by 3.8 per cent during the first half of 2025.
Under the new open banking-powered solution, brokers would be notified of opportunities to assist clients before financial pressures escalate.
“It’s about alerting the broker before the customer even knows they need help,” Jemmett said.
“We’re giving brokers the ability to anticipate needs, offer better-fit products, and keep their clients ahead in a volatile market by knowing the right moment to re-engage with the right offer.”
“More than 25 per cent of brokers are using open banking to originate loans and maximise trail book retention and an additional 34 per cent of brokers plan to implement it in the near future,” Hatherley added.
“The combination of Experian’s consumer credit insights with Stryd’s loan product data, can offer brokers event-driven alerts and real-time customer insights, and may help them identify when a client may be better served by refinancing.”
[Related: Government announces open banking changes]
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