Delivering faster, more data-driven experiences using NextGen Open Banking
Harness the power of Open Banking
Unlock real‑time financial insights that streamline credit assessment, reduce manual effort, and elevate broker and customer experiences.
Secure data collection
Government-regulated Consumer Data Right (CDR) framework removes the need for manual document collection or screen scraping.
Faster loan approvals
Faster collection using real-time verified data sources enables Fastlane and automated approvals.
AI data enhancement
Transaction data categorisation and enhancement using the latest AI technology.
Real-time data validation
Validate application data upfront including assets, liabilities, and income.
Australian lenders & aggregators
Improve “Time to Yes” with increased data quality and security for a better customer experience
Explore Open Banking
NextGen enables mortgage brokers and lenders to use Open Banking to improve the speed and accuracy of completing and submitting loan applications, delivering a better experience for brokers and customers.
Our Open Banking solution delivers a seamless experience between the customer, broker and Accredited Data Holders (like banks) to securely request and receive customer consent, and then retrieve data. This all happens within a matter of minutes, and more importantly without customers having to share internet banking passwords.
Open Banking benefits through the lending journey
Unlock smarter applications
Open Banking delivers the highest quality application data for assessment – configured to match each lender’s requirements. Lenders using Open Banking are modernising their lending workflows while improving speed, accuracy and scalability that delivers a better experience across first and third-party channels.
Automated approvals
Verified data indicating Open Banking matched data delivers automated approvals for Fastlane processing.
Increase efficiency
Increase productivity of assessment teams with reduced MIRs and re-works.
Reduce fraud risk
The currency and authenticity of customer data is guaranteed with the government-regulated Consumer Data Right (CDR) framework.
AI-powered data verification
Access the latest AI-powered verification of application data.
Empower your broker network with verified applicant financial data
Open Banking enables aggregators to equip brokers to improve application submission times, increase conversion and deliver a better borrower experience.
Secure & Compliant
Stronger fraud protection, enhanced compliance, and seamless digital consent in one paperless process.
Quality submissions
Integrated data with CRM to boost operational efficiencies to achieve higher-quality submissions with more accurate data.
Flexible statement history
Brokers can select 1, 3, 6, or 12 months of statement history to meet each lender’s requirements
Customer consultation and lending readiness
NextGen Open Banking offers brokers a government-regulated and secure way to access rich data and insights. Gaining a more accurate and complete financial picture helps with assessing lending readiness, lender selection and speeds up completion of loan applications in ApplyOnline®.
CRM and ApplyOnline integration
Integrated with aggregator CRMs for upfront assessment with data connection to ApplyOnline.
Secure
Replaces non-secure screen scraping: Customers will never be asked for their online banking password. Reduces fraud risk and complements compliance processes and obligations.
Real-time bank statements
ACCC-approved bank statements with custom date ranges and data refresh in real-time. Detailed transaction analysis and insights.
Easy and secure
Open Banking makes it easier and more secure for you to collect financial data from your current banks or lenders (like bank statements, credit card and loan statements) and share with your mortgage broker.
Free
Provided free of charge for consumers.
Secure
Secure and government-regulated way to share your financial information, without having to share passwords, or email sensitive documents like bank statements.
Fast
Request and receive your bank statements and financial data from your banks in less than 8 minutes (median time for all users).
Control
With an easy to use dashboard, you control which accounts are shared with your broker, and for how long (usually 3, 6 or 12 months). You can also stop sharing data at any time with the click of a button.
Making Open Banking accessible for all brokers
Australian accredited MFFA or FBAA brokers can now access Open Banking through simple, streamlined channels that deliver fast, verified financial data—right when they need it.
Brokers can connect to Open Banking via:
- Their aggregator’s CRM integration – Currently available through Connective, Mortgage Choice, and Finsure, with more aggregators joining.
- Financial Passport within NextGen’s ApplyOnline – Access verified data directly through the ApplyOnline platform for a seamless end‑to‑end experience.
- Frollo for Brokers portal- A convenient portal fully integrated with ApplyOnline, making it easy to request and receive verified customer data.
Enable Open Banking today
Contact us now to learn more about how Open Banking can transform your business
A unified Open Banking solution
NextGen’s Open Banking solution is powered by our subsidiary Frollo, Australia’s leading Open Banking provider. Together, NextGen and Frollo deliver secure, CDR-compliant data connectivity to lenders, brokers and consumers.
This partnership enables lenders to access trusted financial data, power smarter workflows and deliver improved digital lending experiences across the ecosystem.
How Open Banking is transforming lending
VOICE OF THE BROKER
Vault Finance Broker experience using NextGen Open Banking
Mary Khatchadourian
Director and Broker at Vault Finance
VOICE OF THE BROKER
Open Banking and Non-conforming broking
Michelle Milsom-Wright
Principal at Lendwright Brokerage
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