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Melanie de Jager, MA Money’s (formerly known as MKM Capital) national sales manager, stated that the online loan origination system will allow brokers to submit “higher quality loan applications with less effort” and its digital offering will improve the experience for brokers and their clients.
This follows Simpology entering a partnership with Athena Home Loans in November 2022 in order to create a new mortgage application platform for brokers known as “Loanapp”.
Additionally, MA Money will be launching a core banking platform that will allow it to offer split loans, offset, and redraw to borrowers, with internet banking being offered in the first quarter of 2023.
On the partnership with Simpology, Ms de Jager stated: “Through smart validations and third-party integrations, receiving credit-ready applications has been at the core of our technology vision so we can fast-track assessment and improve time to decision.”
Ms de Jager also announced that the non-bank lender has launched a new product range that includes a prime home loan suite following its rebranding.
Acquisition and rebranding
As of 2 November 2022, MA Money rebranded from its former moniker MKM Capital to more closely align with MA Financial Group following its acquisition earlier this year.
Ms de Jager said at the time that the business offering had “undergone significant change” since MA Financial assumed control.
“We believe the new brand better reflects the next evolution of the business and our commitment to being the lender of choice for brokers and their customers,” Ms de Jager commented.
“Becoming part of MA Financial has been exciting for MKM, which has been providing Australian borrowers with tailored home loan solutions since 2004.
“As MA Money, we will be capitalising on MA Financial’s funding firepower and technology capabilities to become a lending partner of choice for brokers and their customers.”
Furthermore, the non-bank lender had expanded its leadership team with several new appointments since its acquisition.
Appointed as the lender’s treasury was former Zip Co treasury director Akeshni Gour, along with Holly Pickering as head of origination (former director of credit risk strategy at Athena Home Loans) and Bluestone’s former senior product manager, Tom Christopher as head of operations.
The lender had also hired three additional business development managers to “ensure a consistently strong broker experience with MA Money”.
[RELATED: Non-bank lender rebrands following acquisition]