Finsure supercharged by Drive IQ

LEADING mortgage aggregator Finsure Group has formed a new partnership with software provider Drive IQ Technology to boost the digital asset finance offering to its fast-growing broker network.

Finsure general manager for aggregation, Simon Bednar, said the Drive IQ Technology platform provides a simple, automated end-to-end finance application process that fully addresses Best Interest Duty (BID) requirements.

“The Drive IQ Technology platform is 100 per cent compliant with National Consumer Credit Protection (NCCP) regulations and will assist our brokers wanting to focus more on the asset finance market,” Mr Bednar said.

“This partnership will deliver sophisticated underwriting and funding functionality, automated loan origination and improved transaction speed for the Finsure broker network, which is approaching 2,000 brokers.

“Drive IQ Technology’s proprietary system facilitates the seamless capture of customer data, servicing, credit file review and product comparison during a single customer interaction.”

Drive IQ Technology co-founder Simon Penhaligon said the COVID-19 pandemic has prompted an accelerated drive towards digitalisation for the auto and asset finance industry.

“The extension of BID legislation into the asset space has also been unsettling for asset brokers who may only have a handful of accreditations,” he said.

“Finsure's decision to partner with us has ensured their brokers can conduct business with confidence.”

Grant Clayton, co-founder of Drive IQ Technology, said of the partnership: "We are thrilled at the opportunity to work with Finsure and for the confidence they have shown in our technology.

"The implementation helps to strengthen our position in the asset finance space."

 

About Finsure

Finsure is a growing Australian retail finance brokerage whose advisers are experts in action, passionate and independent. Finsure in 2018 merged with ASX-listed bank Goldfields Money Limited (now BNK Banking Corporation) to create a truly scalable digital challenger bank focused on providing lending solutions for Australian consumers via broker distribution. 

About Drive IQ

Drive IQ Technology has become the preferred digital platform used by asset finance brokers Australia wide. Built to simplify and streamline asset finance, the online system utilises algorithms to automate processes and digitise data. With product and policies from over 45 lenders built into the platform’s back end, access to the system means users are able to place more opportunities than ever before.

ends