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Peer2Peer Finance News | July 23, 2017

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RateSetter Australia partners with mortgage aggregator Connective

RateSetter Australia partners with mortgage aggregator Connective
Suzie Neuwirth

RATESETTER Australia has partnered with mortgage aggregator Connective, to give more brokers access to its range of personal and business loan products in the country.

The UK-headquartered peer-to-peer lender, which set up its Australian subsidiary in 2014, said the new tie-up will enable Connective’s brokers to offer their clients a greater breadth of finance solutions.

“We’ve received great feedback from our existing brokers,” RateSetter Australia’s chief executive Daniel Foggo told Australian Broker.

“They tell us that working with RateSetter provides them with greater opportunities to engage with customers beyond traditional mortgage and insurance products, helping them build stronger client relationships and diversifying and growing their own businesses.”

Read more: RateSetter hires ING veteran as Australian director          

The move is part of RateSetter’s ongoing focus on the broker channel to continue its growth in consumer and business lending, according to the local media report.

“The broker channel is something we’ve always seen as a very important part of our growth strategy. RateSetter in the UK has a significant presence in the broker channel there, and we certainly see it as being really important in Australia,” Foggo said.

“By offering brokers highly competitive rates, a simple, flexible product and excellent support, we will give borrowers a better deal and help brokers grow their businesses.”

Read more: RateSetter’s Australia business reaches investor milestone          

All of RateSetter’s personal loan products will be available to Connective brokers immediately, while the business finance offerings will be rolled out in the second half of this year.

“We believe natural synergies exist between Connective and RateSetter given both companies were founded as industry disruptors which challenge the status quo in their respective markets,” said Brent Starrenburg, head of asset finance at Connective.

Read more: RateSetter partners with Facebook chatbot Plum