Creating the tools for broking’s future
It is often when the paradigm of user behaviour shifts that product-led companies start to pull away from the pack.
Travis Tyler, chief product officer at Lendi Group, clearly sees now as such a time and the new Aussie app as the product that will help the aggregator compound its brokers’ successes by delivering a world-class, personalised user experience, continuous innovation and undeniable value.
The user experience in the Australian property market is ripe for innovation with a tool that has the potential to change how people use technology to leverage their financial position. The Aussie app is designed to solve the real-life challenges faced by brokers and clients and provide a base for further solutions in the future as the market and its users continue to evolve.
Tyler is clearly in his element bringing people and resources together to create a tool that solves so many problems.
“I love building products but, most importantly, building products that people want to use. I get to work with over 1,000 brokers in Lendi Group and another 1,000 team members [to do this].”
Australian Broker recently sat down with Tyler to discuss the company’s new Aussie app launched in February, how it is impacting the broker landscape, the current and future role of AI in the broking industry, and how Lendi Group continues to keep its innovation mindset in top gear amid a rapidly changing environment.
Can you walk us through the inception of the Aussie app? What was the driving force behind its creation?
Tyler sees Lendi Group’s product-led approach to sales as key to how the app was designed with the Aussie brand top of mind.
“What that means is that [we] build products that help you acquire, grow and retain customers,” he said.
“The Aussie brand, it’s an iconic brand. It's got the some of the leading brokers in the industry. And we wanted to build a product that actually helped them to find new customers and then engage with them in a new way.
“We started building over a year ago, and we started with our brokers. We rolled it out initially in September [with] 60 brokers that piloted the experience with us.”
The app was thus designed to present solutions to the real-life problems that brokers were encountering in the market.
“[A key aspect was] making sure that the problems and the opportunities that our brokers see in the broking market can be brought to life through an app.”
The benefits to brokers are immediate.
“Any customer that finds the Aussie app and downloads and signs up, they’ll automatically be allocated to a broker. So that means that they can connect with a broker in their local area in a new way. The reality is that a lot of people now start their experience online, and more and more are starting through an app store.”
Customers will be able to contact their brokers easily and book an appointment with them when they’re ready to discuss options.
“That means that they can then connect with their broker, they can email them, they can call them, or they can book an appointment. And importantly, they can use a range of the tools that they would normally get through websites or through the broker [via the app] in their pocket. And they’ll always have access to their broker 24/7.”
Lendi Group will continue to evolve this new way of engaging over the coming months.
“In the future, we’ll be launching the ability for [customer] referrals and incentivising [the introduction of] more people to their broker.”
What other initiatives have you implemented to foster a culture of innovation?
Tyler pointed to the recent launch of a credit score tool, also available via the app.
“Any Australian can either go to the website or download the app, and they can track their credit score, which is really helpful for people just knowing what’s going on in the market. If they’re looking to refinance or to get another property, a credit score is a core element of that.”
But it was a recent in-house ‘hackathon’ that really inspired Tyler. This involved gathering Lendi Group employees and brokers together to brainstorm future tools needed to help them continue serving markets in the most optimal way.
Tyler said the event was a career highlight in terms of how inspiring it was to see the group embracing innovation and unleashing their creative thinking, and how quickly Lendi Group’s tech and product teams jumped into action to bring those ideas to life.
Two leading ideas from the event stood out for Tyler – a chatbot to answer common broker questions, and the development of automated call transcripts.
“As soon as someone calls, [the tool generates] a summary of the call with next-step actions, and you can immediately send that summary to clients. It’s great for compliance, but it’s also great in a sense that our brokers and our associates don’t need to be taking notes because the system does it for them. They can solely focus on the needs of, and connecting with, their client.”
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Tyler sees the app as having wide appeal.
“The reality is that property is Australia’s de facto sport. But there was no experience that just made it really simple to understand [and answered questions such as] what’s my house worth? How is the value of it changing? What’s my equity?”
The answers to these drive a lot of other conversations around property that lead to opportunities for both brokers and clients.
“We want to make sure that whether you’re a homeowner, an aspiring homeowner or an investor, that you could quickly understand your net worth. And then, how do you actually get yourself on the trajectory of building more wealth for your property?”
The app has access to this information for nearly 11 million properties, so it provides a powerful tool for brokers and clients to leverage their financial position, and more insights will become available as time goes on.
“We’re going to build out a broader experience over the coming 12 months,” Tyler said.
Lendi Group was created in 2021 though the merger of Aussie Home Loans and Lendi to form Australia’s largest retail mortgage broker. Both were founded as market disruptors to help Australians to get better deals, better rates and better information on home loans. Lendi Group’s platform helps customers compare, apply and settle loans online while being supported by a team of experts and brokers that power its brands, products, services and relationships. With a shared history of challenging the status quo, the two brands provide different experiences for customers with the same goal of helping more Australians achieve homeownership.
Company Profile
2
powerhouse brands under Lendi Group umbrella
1,300+
Brokers helping customers nationwide
2 million
Aussies who have used Lendi platform to compare rates online
$95bn+
Loan booK value
600+
Support team members helping brokers grow their businesses
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20+
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Career highlight
Seeing team members and brokers come together at the first-ever Lendi Group Hackathon
Travis Tyler
Chief product officer at Lendi Group
Discover how Lendi Group’s new app empowers brokers and clients, transforming the property market through user-centric design, AI integration and continuous innovation
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“We wanted to build a product that actually helped [brokers] to find new customers and then engage with them in a new way”
travis tyler,
lendi group
“The way we look at it is that AI won’t take your job or a broker’s job, but someone that knows how to use AI will [take that job], because they’ll deliver a better experience”
Travis Tyler, Lendi Group
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Creating the tools for broking’s future
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
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Creating the tools for broking’s future
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
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Years of Experience
BAsed In
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1992
2005
2013
2021
2023
2024
Aussie Home Loans founded
1992
Aussie retail launches
2005
Lendi founded
2013
Lendi and Aussie merge to create Lendi Group
2021
1,000+ brokers live on new platform
2023
Aussie mobile app launched
2024
Milestones
What unique value does the Aussie app offer to customers, compared to similar platforms?
How is the app going to help brokers grow their businesses?
Published 24 Jun 2024
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The advances in AI over the last 12 to 18 months are changing industries all over the world, and broking is no exception.
“The way we look at it is that AI won’t take your job or a broker’s job, but someone that knows how to use AI will [take that job], because they’ll deliver a better experience.”
Tyler sees the impact of AI as being mainly around improving productivity through the removal of repetitive, mundane tasks to allow more time for higher-value-added activities. One example might be the extraction of information from a client call to populate applications.
“What was traditionally effort and work in the past will become automated, so [brokers] can spend a lot more time connecting with clients and providing a better service. In broking, it’s actually going to result in a better service for clients. It’s going to allow our brokers to have more client interactions, because the things that took time before, they’ll be instant.”
One initiative Tyler is excited about centres around a team that’s been asked to think about how AI will disrupt traditional business patterns, and the current focus is on using AI to improve first contact with clients.
“In a world where more and more businesses are connecting in different ways, where no one’s answering their phone, no one’s answering emails, how are you going to connect with clients so that we can [introduce potential customers] immediately to our brokers where we know they get a wonderful service? That’s one of the really interesting areas that we’re starting to delve into at the moment.”
One way is through the Aussie app, a key step forward for Lendi Group as it adjusts to a quickly changing post-pandemic society. No one knows what the other ways will look like yet, but for Tyler perhaps, it’s the not knowing that is the most intriguing part.
“We’re really excited about what the future looks like.”
What role does AI currently play in the broking industry, and how do you see it evolving in the future? Are there any specific AI-driven initiatives or projects that you’re particularly excited about?
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“We wanted to build a product that actually helped [brokers] to find new customers and then engage with them in a new way”
travis tyler,
lendi group
Advertising
Authors
E-newsletter
Contact Us
Contact Us
Australian Broker Talk
Events
White papers
Webinar
Australian Broker Talk
Resources
TV
Sector Focus
Power Panel
Independent Feature
Executive Team Profile
Exclusive Leader Profile
Business Update
Business Focus
Big Deal
Premium Content
Technology
Reverse Mortgages
Investment Loans
Specialist Lending
SME
Commercial
Specialty
Best In Mortgage
News
News
Copyright © 2024 KM Business Information Australia Pty Ltd
RSS
Sitemap
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Firms
600+
Support team members helping brokers grow their businesses
2 million
Aussies who have used Lendi platform to compare rates online
$95bn+
Loan booK value
1,300+
Brokers helping customers nationwide
2
powerhouse brands under Lendi Group umbrella