Unlocking real-time data collection: Frollo launches Open Banking portal for brokers

The lending industry is undergoing rapid digital transformation — and at NextGen, we believe brokers should be equipped with the tools to lead that change.

In partnership with our subsidiary Frollo, Australia’s leading Open Banking platform provider, we’re proud to launch Frollo for Brokers — a new solution that empowers brokers to access secure, real-time financial data through the Consumer Data Right (CDR).

This innovation is about more than just data. It’s about removing friction from the fact-find mortgage process, improving accuracy, and helping brokers deliver a better experience for their clients — from application to submission.

Raising the standard for financial data collection

Mortgage applications can be complex and time-consuming, particularly during the initial fact-find stage. For years, brokers have relied on screen scraping or requested PDFs of bank statements to verify client finances — a manual, error-prone and increasingly outdated approach.

Frollo for Brokers changes that.

Built on the regulated Consumer Data Right framework, the portal enables brokers to access financial data directly from participating banks, with the client’s explicit consent. The process is fast, secure and fully compliant — no sharing of bank passwords or manual uploads required.

Instead of spending hours collecting, reviewing and verifying documents, brokers can now receive structured data in real-time, categorised using Frollo’s AI-powered analysis engine. It’s a smarter, safer way to assess a client’s position — and it’s available now, at no cost, for all MFAA and FBAA accredited brokers.

From partnership to platform: How NextGen and Frollo are delivering change

Since becoming part of the NextGen group, Frollo has worked closely with us to integrate Open Banking into our core platforms — most notably, ApplyOnline®. Together, we’ve delivered seamless, compliant access to Open Banking data for brokers using ApplyOnline via key aggregator groups such as Connective, Finsure and Mortgage Choice (part of REA Group), and major lenders including CBA and Westpac Group.

While our CRM-integrated solution remains the gold standard, we’ve extended our Open Banking solution to all brokers — even if your aggregator isn’t connected. Powered by Frollo’s deep expertise in Open Banking technology, it’s now easier than ever for all brokers to access secure, real-time financial data.

The results speak for themselves. Brokers are saving time, reducing rework, and enhancing their client relationships through a more transparent and efficient process. Now, with the standalone Frollo for Brokers portal, that same capability is available to every broker in the market — regardless of their aggregator or software provider.

This launch represents a key milestone in our commitment to enabling a more connected lending ecosystem — one where data flows securely, clients remain in control, and brokers are empowered to do what they do best.

What this means for brokers

At its core, Frollo for Brokers is designed to simplify and accelerate one of the most time-consuming aspects of the home loan process: collecting and validating financial data.

With just a few clicks, brokers can now:

• Request access to real-time account statements from over 100 banks and financial institutions
• Receive AI-categorised transaction data and summary insights
• Support lender compliance requirements with accurate, consent-driven data
• Reduce the reliance on screen scraping or paper-based statements

Early adopters report saving significant time per application, with fewer back-and-forth interactions with clients and a smoother path to submission.

Importantly, this shift also improves the client experience. No more searching for PDF statements, scanning documents or sharing passwords. Clients simply provide consent digitally, and the data is retrieved directly — securely, transparently and in line with government regulation.

A future-ready approach to lending

The shift to Open Banking is no longer optional — it’s inevitable. As major financial institutions phase out support for screen scraping, and as consumer expectations rise, brokers will increasingly be expected to adopt smarter, more secure solutions.

Frollo for Brokers enables brokers to stay ahead of that curve.

By adopting Open Banking now, brokers can position themselves as leaders in digital lending — offering clients an experience that’s not only fast and easier but also aligned with evolving compliance and technology standards.

For lenders, it means higher quality submissions, fewer errors, and a faster time to decision. For the industry as a whole, it’s a step toward a more connected, more efficient ecosystem.

Available now — at no cost

At NextGen, our mission is simple: make lending easy.

That’s why we’re making Frollo for Brokers available to all MFAA and FBAA-accredited mortgage brokers — for free. Whether you’re new to Open Banking or looking to scale its use across your business, the portal is easy to set up, simple to use, and fully supported by our team.

We invite all brokers to explore this new capability and experience firsthand the benefits of Open Banking in action.

Find out more

As the pace of change in lending accelerates, brokers need trusted partners who understand the complexity of their world and deliver practical solutions that make their jobs easier.

With Frollo for Brokers, we’re giving brokers a powerful tool to digitise and de-risk the way they collect financial data — one that’s built on secure infrastructure, backed by regulation, and ready to scale.

The future of lending is connected, data-driven and broker-led. And with this latest innovation, we’re helping that future arrive faster.

Learn more or get started today at frollo.com.au/frollo-for-brokers/.