Finance and Coffee
a month ago · 4 min read
BRISBANE, AUSTRALIA - 18 May 2021: Australian digital lending and payments provider WLTH has today announced a strategic partnership with mortgage broker aggregator Specialist Finance Group (SFG), to strengthen its presence in the broker community, connect with more everyday Aussies looking to save on their mortgages, and create a positive environmental impact.
As part of the partnership, SFG will be the first aggregator to incorporate WLTH products in their comparison proposals. SFG’s many broker members will now be able to provide customers with the WLTH value proposition by utilising WLTH’s suite of tech-centric products, from transactional accounts, simple payment applications, and a high-value loyalty program.
Beyond access to WLTH’s competitive offerings, SFG’s brokers will help power WLTH and Parley for the Ocean’s Australian coastline cleanup efforts. Every WLTH loan settled with SFG will assist WLTH and Parley for the Oceans in cleaning up 50sqm of coastline. The recycled plastics from this cleanup further go to building the transactional cards used for the WLTH suite of products.
SFG members and their clients will also have access to educational sessions on the impact of plastic on the oceans and how to create a greener future, with Parley for the Oceans.
By leveraging SFG’s network, WLTH will be able to tap into an expansive pool of credible brokers and their clients to gain exposure to a new cohort of potential customers looking for a better deal on their mortgage, particularly as the Reserve Bank of Australia (RBA) signals further rate hikes.
Brodie Haupt, CEO and co-founder of WLTH said: “With the RBA confirming the rise of the nation’s official cash rate for the first time in 11 years, more Aussies than ever are paying attention to their home loans and searching for better deals. Our partnership with SFG helps us connect with them by supporting the digitally-savvy mortgage brokers they do business with and arming them with the products and services needed to streamline the whole experience.
“At WLTH, we have a strategic roadmap in place to grow our product distribution channel through Australia’s mortgage brokers whilst maintaining fast decisions, including iterative improvements to our technology and systems, and hiring additional key personnel to support these essential relationships,” concluded Haupt.
Blake Buchanan, General Manager Aggregation of SFG stated: “SFG is thrilled to welcome WLTH to the panel of lenders available to its members. We celebrate competition in the market that ultimately drives better outcomes for our brokers’ clients. In addition to some wonderful pricing and policy offers, the combination of a socially and environmentally responsible partner in WLTH will be a wonderful addition for the market today that is environmentally conscious of tomorrow”.
Broker-sourced loans currently account for around 67 per cent of WLTH’s lending facility. Via its partnership with SFG, the fintech has plans to accelerate this figure to 80 per cent in the coming months, as WLTH doubles-down on growing its partnership capabilities alongside its direct lending capabilities.
Part of this strategy involves the appointment of Tim Ford as National Partnerships Manager. Bringing with him over 17 years of experience in the mortgage broking industry (12 of those in aggregation specifically), Ford has been tasked with shaping the way WLTH forms relationships and delivers value with Australia’s largest aggregators and brokers.
On his appointment, Tim Ford, National Partnerships Manager said: “WLTH is a real challenger to many of the other digital lending and payments players in the local space. I look forward to working alongside the team to take an innovative approach in delivering value and expanding WLTH’s growth in the market through building core relationships between top aggregators, large broking businesses, referrals and the end customer.”