ISCOVER
The branded brokerage has begun testing a suite of artificial intelligence tools for branded brokers as part of its strategy to embed intelligent assistants across the broking journey.
Speaking at the 2025 Scale Up conference on the Sunshine Coast, held on Monday (4 August), Loan Market executive chairman Sam White and chief product and innovation officer, Jason Furnell, revealed that all Loan Market-branded broker businesses in Australia will now have access to a range of artificial intelligence (AI) support, with more to come.
As of this week, all Loan Market brokers in Australia can access Gemini via Google Workspace, free of charge, with Loan Market advisers in New Zealand expected to gain access in September.
“Gemini is available to you via Google Workspace. If you haven’t activated it, please do,” Furnell said during the session.
“It is a paid‑for version. That is important because if you’re using the free version, you could be breaching client privacy.”
The Gemini rollout forms part of a broader AI program designed to support brokers in areas such as file preparation, compliance, and client retention.
Furnell added that brokers can use Gemini to extract data from client meeting transcripts (via Teams/internal platforms), summarise documentation, or automate written content.
“There are thousands of use cases for this. Don’t think of it as a gimmick,” he said.
In addition to Gemini access, the brokerage revealed it is also currently alpha testing a new internal suite of AI tools under the banner MyCRM Intelligence, with 88 brokers participating in testing over the last three weeks.
These tools have been designed to act as intelligent assistants that work within brokers’ MyCRM platforms.
The tools currently in alpha testing include:
- MyNoteTaker: An assistant that reviews client and file data to generate tailored strategy and exit notes. “It writes exit strategies, strategy options, and can calculate things like super balances to support the recommendation,” Furnell explained. “And it shows how it came to that answer, which has been well received.”
- MyCompliance: An AI system that reviews file quality and flags inconsistencies before quality assurance (QA) reviews. For example, it may flag if a deposit doesn’t align with a declared savings account or if other details are missing.
- MyRetention: A tool identifying retention opportunities by comparing client rates against current market offers. This tool has been in testing with 13 brokers and may later include open banking data. “It will give you a detailed view of which customers you should contact and the reason why,” Furnell said, adding it was “more than a list”, it was a “workflow”.
- MyDataAnalyst: A data-query assistant that allows brokers to ask operational questions in natural language. “You can ask: ‘Why have my commissions dropped?’ or ‘Which referral partners have stopped referring to me?’” Furnell said.
Furnell emphasised that all AI outputs are suggestions and brokers remain responsible for the advice they give.
“These tools are here to help, not to decide. You’re still in charge and still responsible,” he said.
“You’re advised to review and edit what is produced.”
Initial feedback from testing brokers has been largely positive, but some concerns have been raised about how new brokers will build foundational skills when AI is doing the heavy lifting.
“There is feedback from the field that new brokers may not learn how to write strong exit strategies if they’re just handed them,” Furnell said. “That’s something we’re actively thinking about.”
Loan Market is also working on expanding the scope of its AI development with future applications being explored for lender policy matching, fraud detection, lead summaries, and document analysis.
“We want to make your experience better, not remove the broker,” Furnell added.
“Over 100 brokers have been involved in shaping this,” he added, noting that more brokers are being encouraged to test and try the AI tools as they roll out in the coming weeks.
The tools are integrated within the existing MyCRM platform and are designed to support, not replace, broker decision making.
However, Furnell noted that brokers working under the Partner business model (formerly known as Bring Your Own Brand) may have limited functionality if their Workspace or domain is not controlled by Loan Market.
“There are constraints where we don’t manage your domain, but we’re working through that,” he said.
Chairman White reiterated the network’s focus on innovation and stated: “We’ve been saying for a long time, technology won’t replace brokers, but brokers who don’t use technology might get replaced.
“We are a high-achieving network. When we put our mind to something as a network, we get it done.
“Whether customer service manager, brokers, credit managers, business owners... we can add more value to customers by increasingly replacing some of the things that we do with AI.”
Loan Market is the latest brokerage to announce it is integrating AI developments across the group, with Aussie having recently revealed it was pushing out AI agent assistants to its network.
[Related: Aussie to roll out agentic AI]
JOIN THE DISCUSSION