Nodifi says the new addition supports brokers to navigate BID regulations, reinstating confidence whilst remunerating brokers for consumer asset finance deals.
Tom Caesar, Nodifi chief executive officer, says the decision to provide set rates across all consumer lender products, provides brokers the confidence to offer consumer asset finance, something that has fallen away since the start of the year.
“We understand the role that brokers play to their respective clients, which is why we have delivered a solution that allows brokers to continue to provide that valuable service, whilst being adequately remunerated for their work.
“The general sentiment in our conversations with the wider broker community, is that of hesitation to assist clients with consumer asset finance. Whilst we continue to see strong growth in the commercial sector, the platform remains unchanged for commercial transactions due to having minimal impact from BID.
“That scenario is not in the best interest of consumers which is why we want to make a difference – the set rates solution will go a long way in rectifying that sentiment, which will be beneficial for all involved.”
The set rates addition follows a raft of platform updates since last December, all of which have been introduced to support brokers navigate BID.
However, the fintech has revealed further plans to bolster its offering, with a new suite of products recently launched to a select group of brokers, with a plan to launch to market in the coming month.
Nodifi says the products – which includes a loan origination platform – will still have the features partners know and love, however, will deliver more streamlined and efficient processes.
Furthermore, it says the real game changer comes from its new software as a service solution, providing brokers, aggregators, and the wider industry with the ability to create white label platforms and customer experience workflows.
More to come.
