NEW YORK, NY--(Marketwired - August 02, 2016) - Australian Finance Group (ASX: AFG), one of Australia's largest providers of mortgage brokering services, today announced its strategic alliance with Biz2Credit, a leading international FinTech company. The exclusive agreement will enable AFG brokers to deliver an innovative lending experience for small businesses in Australia.
AFG will leverage Biz2Credit's patented analytics and financial services technology to process small business loan requests more efficiently. Loan applicants will enter information through a new online small business portal. The technology will enable AFG brokers to provide small business borrowers with a broader range of options and deliver faster access to capital. Using the online lending platform, AFG brokers will be able to provide more choices to borrowers.
"We think this is critical to ensure small to medium enterprises (SME)s can also prosper in the low interest rate environment, while also process funding requests in real-time. The ability to receive assistance when and where a customer needs it is one of the key value propositions of a broker," said AFG Chief Operating Officer David Bailey.
"The mobile-first digital application approach means an AFG broker can help their clients apply for credit from any device, laptop or smart phone at a time and a place that suits their client, including evenings and the weekend," Mr. Bailey continued.
"AFG is proud to be the exclusive sales partner of Biz2Credit in building a new B2B lending platform in Australia," said Mr. Bailey. "The SME lending market in Australia has in our view been underserviced. Using Biz2Credit's patented technology and AFG's extensive broker network, competitive SME lending in Australia is getting the kick-start it needs to succeed."
"The broad range of funding options and streamlined process Biz2Credit currently delivers to SME borrowers is unparalleled in the U.S. market and it will soon be available in Australia."
"Aligning with AFG as our exclusive distributor of Biz2Credit's advanced financial technology will bring an innovative SME lending platform to the continent of Australia," said Biz2Credit's CEO and co-founder Rohit Arora. "This is a significant engagement with an active organization operating in the Australian financial services market that understands there is an increasing need to offer digital solutions in all areas of small business lending."
Biz2Credit, a pioneer in the FinTech space, has helped small businesses obtain more than $US1.4 billion in loans and other financial products across the United States. The Biz2Credit platform will be rolled out to AFG brokers towards the end of the year.
AFG is Australia's largest mortgage brokering group. Established in 1994, the company now provides more than 16% of mortgage brokers nationwide with access to Australia's leading lending institutions, and has a mortgage book in excess of A$1100 billion. The company's ongoing growth since its inception has been the result of deliberate strategies to build AFG on sustainable market leading principles, to recruit and retain the best people in the industry and to reinvest in cutting-edge technology systems and training.
Founded in 2007, Biz2Credit has arranged more than U.S.$1.4 billion in small business funding throughout the U.S. and is widely recognized as the #1 online credit resource for small business loans, lines of credit, equipment loans, working capital and other funding options in the U.S. Using its advanced proprietary technology and online marketplace, Biz2Credit matches SMEs in need of capital to lenders and other funding providers based on each company's unique profile -- completed in less than four minutes -- in a safe, efficient, price-transparent environment. Visit www.biz2credit.com, follow on Twitter @Biz2Credit, and Facebook.