86 400 partners with Connective to offer the country’s most innovative home loan to more Australians

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86 400, Australia’s first smartbank, has today signed a strategic partnership with aggregator, Connective, to further supercharge its broker network. Connective joins 11 partners and aggregators offering 86 400’s smarter approach to home loans which means over half of all brokers in Australia can offer their clients the fastest and most streamlined home loan application process in the country.

Over the past 15 years, Connective has grown to become one of the strongest aggregators in the market, with more than 3,800 brokers on its books. One in eight home loans written in Australia are by Connective brokers.

Mark Haron, Executive Director at Connective, said: “86 400’s approach to mortgages is transforming the process of buying a home for Australians. We look forward to working with the team to provide home buyers with greater choice and better value through our extensive broker network”.

Robert Bell, CEO, 86 400 said: “Brokers and their customers want something that’s digital and easy to use: that’s why we developed our digital home loan product, and that’s why we’re thrilled to have partnered with Connective to help more Australians realise these benefits.”

“Consumers are fed up with mortgage paperwork, so we’ve built a process with next to no paperwork. They’re fed up with slow processing, so we’re speeding it up with decisions made in just a few hours. They’re fed up with being slogged unfair fees on their mortgages, so we’ve brought in fair and competitive rates”.

More than just competitive rates

Since launching its home loan product in November 2019, brokers have been quick to take advantage of 86 400’s fully digital solution, which delivers the fastest time to a home loan decision, and next to no paperwork.

86 400 remains the only newly licensed bank in Australia with both home loan and everyday banking products in market and the only digital home loan for brokers. The digital solution has dramatically streamlining both the application and approval processes, offer simplicity and speed to brokers and customers alike.

The electronic capturing of income and expenses which is auto-populate into the application form has greatly simplified what was a complicated and lengthy process. Coupled with an Australian-based lending operations and contact center team, 86 400 is turning the entire home loans process on its head and bucking industry trends of slowing approval times during the current global turbulence to give a decision in a matter of hours.

“We’ve said from day one that we’re not interested in building a niche bank. 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.”, Bell said.

To find out more about 86 400 home loans, please visit: https://www.86400.com.au/homeloans/

About 86 400

86 400 is Australia’s first smartbank, built for smartphones. A bank which tells customers what’s actually going on with their money, so they feel in control every second of every day. All eighty-six four hundred of them.

Led by CEO Robert Bell and chaired by Anthony Thomson, 86 400 launched in September 2019 with transaction and savings accounts.

86 400 enables customers to connect all their accounts (from over 150 financial institutions) in one place, giving them their full financial picture. It uses smart technology to surface the most relevant information about spending, saving and bills, so customers can plan forward, as well as look backwards. Australians can open an 86 400 account in just 120 seconds, giving them great rates, no monthly fees, plus access to Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay.

86 400 became a licenced ADI in July 2019. It is well capitalised and currently fully funded by Australia’s leading independent payments provider, Cuscal Ltd. Morgan Stanley Australia Limited is underway with the bank's external capital raising efforts to fund future growth.

Visit www.86400.com.au for more information, or open an account via the App Store or Google Play.