The partnership will give more than 85% of Australia's brokers access to the smart bank's digital home loans
Smart bank 86 400 has announced a partnership with PLAN Australia, one of the country’s largest mortgage aggregators, as part of the smart bank’s strategy to expand its broker network.
Since PLAN was founded in 1999, it has amassed more than 1,600 members across Australia, according to a report by IBS Intelligence. The partnership with 86 400 means that more than 85% of Australia’s brokers will have access to the smart bank’s digital home loan applications.
“We are committed to seeing our members grow, thrive, and service their customers with a suite of innovative lending products that spans the spectrum of needs,” Anja Pannek, CEO of PLAN Australia, told IBS Intelligence. “Partnering with 86 400 is yet another step in supporting our brokers [to] excel in the competitive broking world.”
“We’ve experienced incredible momentum in the mortgage space this year, and look forward to building on this and working with even more brokers in the months to come,” said George Srbinovski, head of broker distribution at 86 400. “With PLAN Australia on board, one of the country’s largest aggregators, 86 400 is able to reach even more brokers than ever before and help more Australians secure a smarter home loan.”
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86 400 has entered 15 strategic partnerships, including partnerships with eight major aggregators, and has grown its broker network to more than 85% of the Australian market, according to IBS Intelligence.
In January, National Australia Bank announced plans to acquire the smart bank. The Federal Court approved the merger in May.