86 400, the first bank in Australia built for smartphones, has signed a partnership with Australian Finance Group Ltd (AFG), expanding its broker distribution network.
AFG is one Australia’s largest aggregators, with over 3000 brokers, and a loan book exceeding $140 billion. 86 400 enables electronic signatures, digital ID verification, collection of expense and income information, plus is the only newly-licensed bank in Australia with both home loan and everyday banking products in market.
“We’ve said from day one that we’re not interested in building a niche bank,” explains Robert Bell, CEO of 86 400.
“We have a long-term, sustainable business model, which balances both sides of the ledger, and are busy building and rolling out products and partnerships we know our customers want.”
Home loans can be approved in a matter of hours.
“Brokers and customers want an application experience that’s easy to use and a process that gets them a decision quickly, giving both the broker and customer certainty and peace of mind, and that’s what we’re delivering through our digital solution,” continued Mr Bell.
“Partnering with AFG allows us to continue to help more Australians and more brokers realise the benefits of the 86 400 home loan.
“We are pleased to announce the addition of 86 400 to the AFG panel,” said AFG Head of Sales & Distribution Chris Slater, “as we continue to ensure the needs of our brokers and their customers are met”.
“One of our core values over the last 26 years has been supporting our brokers to bring competition to the market and the team at 86 400 are very passionate about competing so they’ll fit in very well at AFG.
“We will continue working closely with our brokers and funders like 86 400 to give them the best possible chance to compete for business.”