Aggregator replaces legacy commission management processes with Escientia's ASSIST platform, expanding self-service tools for brokers and referrers
Fintech company Escientia has announced that mortgage aggregator outsource Financial has deployed the ASSIST Commission Platform as its commission management and RCTI delivery system.
outsource Financial said it adopted the platform as growing network complexity made managing payments across multiple lenders, referrers and business models increasingly difficult.
ASSIST provides automated Recipient Created Tax Invoice generation and distribution, replacing manual back-office processes. Brokers and referrers gain on-demand access to itemised commission statements, payment history and post-settlement loan book data through the ASSIST Broker Portal. The platform supports multiple business models, including professional services partners such as accountants, financial planners and legal firms.
Since deployment, outsource Financial's back-office team has reported reduced time spent on commission queries, reconciliation and statement preparation. The platform has also provided consolidated, real-time visibility across the aggregator's loan book, covering settlement volumes, trail commission movements, lender mix and broker performance data.
"At outsource Financial, we've always believed that empowering our brokers means giving them the tools and the team support to do their best work," said Andrea Tassis (pictured right), chief financial officer at outsource Financial. "ASSIST has taken a real weight off our back office — the time we used to spend on commission reconciliations and RCTI processing is time we're now putting back into our people and our broker relationships.
"Our brokers work hard for their clients, and they deserve a platform that works just as hard behind the scenes for them. We're genuinely excited about what this means for our network going forward."
Nick Nicolaou (pictured right), chief executive and founder of Escientia, welcomed outsource Financial to the ASSIST platform, describing the organisation as one of the most professional and broker-focused in the Australian aggregation space.
"Having a client of this calibre trust ASSIST to power their commission operations is something we take real pride in, and it drives us to keep raising the bar on what the platform can deliver," he said.
The ASSIST platform currently supports more than 5,000 brokers across Australia.
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