What do you get when a company that turns data into insights enabling clients to take control and improve their finances, with a lending platform that digitizes the process from application to settlement?
IT'S NETWORK VALUE
A few days ago it was announced that NextGen had bought Frollo.
Together they make sense as complementary services of increasing value to their clients, and together they leverage AI, API, SaaS, data, digitization and a great sensitivity to the need for a great UX and a compliant and secure digital environment. Together they target the same client groups – consumers (primarily), business(emerging) and financiers.
NextGen will not only integrate Frollo into its own lending platform, but it will allow Frollo to grow and thrive in their own right as an autonomous business.
About NextGen - https://nextgen.net/#!/home
NextGen has a digitized lending platform. They have 50 lending clients (financiers), access to 97% of Australia’s mortgage brokers and up to 650K loans per annum. They provide document verification and digital signatures and have strategically played a role in an effort to create standardization of standards for the industry. This is smart and client-orientated! They have also extended into B2B segment.
About Frollo - https://frollo.com.au
Frollo has over 100K clients and counting. The data they have access to through open banking will further improve the financial outcomes for their clients. They leverage open banking data, AI to improve the investment outcomes of their clients.
POTENTIAL FUTURE
Whilst Open Banking rolls out in the consumer segment, both Frollo and NextGen have B2B offerings and they will no doubt focus on a planned approach to create mutual value in this space. Can’t wait to see what may transpire.
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