Nodifi launches personal loans on origination platform

Asset finance technology and services provider, Nodifi, has added a string of personal loan  products to its loan origination platform, signaling broker feedback and consumer demand as  the main drivers to the release. 

This latest development follows the fintech’s decision to provide mortgage brokers with set rate  options for consumer asset finance, following the introduction of best interests duty. 

SocietyOne, NOW Finance, Plenti and Wisr will make up the first group of personal lenders to  launch on the platform, allowing mortgage brokers to run quote comparisons and process  applications. 

Nodifi says the latest addition is a sign of the changing economic climate, with broker and  consumer demands at the forefront of the decision. 

Tom Caesar, Nodifi chief executive officer, comments: “What we’re seeing is a shift from the  traditional mortgage broker, whereby home loans were once a broker’s only true product  offering. 

“Nowadays, brokers are demanding a wider-breadth of finance solutions for their clients, which  is being driven by consumer demand - personal loans is one such product increasing in  popularity amid the changing economic landscape. 

“Typically, this has been a product overlooked by many fintech service providers, and this is  something we want to rectify.” 

Nodifi users will gain access to the personal loan products via the platform from 1 December,  while a future white label release providing brokers with direct to customer personal loan  journeys is also scheduled for early 2022. 

“In this day and age, generic service offerings are severely outdated. Everything we’ve done to  date - and will continue to do in future - is to better align with increasing expectations and to  leverage new technologies. 

“That’s a key reason why we’ve decided to roll out the white label solutions. It’s about giving  mortgage brokers the best tools to satisfy ever-evolving client needs.”

About Nodifi 

Nodifi is one of Australia’s leading technology and services providers for asset finance, enabling mortgage brokers,  dealerships, and other POS retailers, to offer a broader range of financial services. 

Nodifi’s mission is to increase profitability and efficiency for partners, by delivering bespoke asset finance solutions.  These include; asset finance aggregation, loan origination, credit support, marketing and lead generation, plus a suite  of white-label technology solutions. 

Founded in 2016, Nodifi now boasts over 2,000 users, generating over $1.5 billion in loan applications since its  inception.