AMP Bank redefines lending through innovation

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While it won’t make you a cappuccino, ScotPac’s Partner Portal makes helping commercial clients so fast and easy brokers will wonder how they did without it

WITH THE significant rise in property values, we know that more and more Australians will be heading into retirement with mortgage debt. Meanwhile, brokers managing increasingly complex customer scenarios are asking for better tools, and capital to grow their businesses without risking personal assets. AMP Bank heard such concerns repeatedly from brokers and its customers. Its response: a 10-year interest-only home loan with no mid-term reassessment, a flexible credit line that lets brokers grow their businesses without mortgaging personal assets, and a rebuilt loan origination platform co-designed with brokers, who the bank views as partners. Each product addresses a gap that standard banking structures struggle to fill: helping borrowers who carry mortgage debt into retirement, enabling brokers to scale their businesses without personal financial risk, and meeting evolving customer experience expectations such as faster turnaround times. This approach allows brokers and customers to spend more time on the things that matter – like growing their businesses and living life. Rather than simply adding features to existing products, AMP Bank is rethinking how lending products should work when customer needs change over time.

AMP Bank is a non-major digital bank that has been operating for over 25 years, providing Australians with home loans and deposit and transaction accounts. We take pride in our strong service aimed at making it easy for brokers to do business with us and ensuring customers have a positive banking experience. At AMP, we’re here to help people create their tomorrow, and we value brokers’ role in achieving this, supporting clients to make some of life’s largest financial decisions.

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Michael Christofides, AMP Bank

The products reflect the culture inside the bank itself – one built on listening first and designing second. “At AMP Bank, innovation isn’t about doing things for the sake of it – it’s about challenging the status quo of banking so we can solve real broker and customer challenges,” says Michael Christofides, the bank’s director of lending and everyday banking. “We’ve made a deliberate commitment to design differently, with brokers at the heart of our thinking.” That philosophy runs through every new product and platform AMP Bank has released this year. These offer practical flexibility for borrowers, strategic tools for brokers, and technology shaped not in a lab but in conversation. With more than 90% of its home loans originated through brokers, AMP Bank keeps its ear to the market by listening to those closest to customers. By embedding broker feedback into product design, the bank is reframing what partnership looks like in an industry still learning to see brokers as co-creators rather than channels. This innovative mindset is also evident in the launch of a brand-new digital bank, AMP Bank Go, earlier this year, and solutions such as the multiple sub-account feature, Master Limit.

Michael Christofides, AMP Bank

The catalyst for the 10-year interest-only product was listening to brokers describe a recurring customer challenge: Australians carrying mortgage debt into retirement as living costs continue to rise. “We consistently heard from customers about the pressures of rising living costs and the growing concern around carrying debt into retirement – an issue that’s become increasingly common as fewer Australians own their homes outright by the time they retire,” says Christofides. The bank’s response challenges conventional lending wisdom. Rather than forcing borrowers to pay off the entire loan through principal repayments, the product gives them a decade of repayment flexibility with no mid-term reassessment required. Borrowers can sell the property, downsize or switch to principal and interest payments at any time, but they’re not compelled to.

Christofides explains the strategic thinking: “For many, the ability to maintain flexibility, rather than simply accumulating more equity, can make a real difference to their quality of life. This approach recognises that some retirees may benefit more from increased access to funds than from paying down their mortgage as quickly as possible.” It’s a notable departure from standard bank practice, where interest-only periods typically last a maximum of five years and require reassessment. AMP Bank is the first Australian bank to offer a 10-year term on a home loan without that hurdle. The product is available to investors, owner-occupiers and retirees. For customers nearing retirement, it creates options: freeing up cash flow, accessing equity for other investments, or simply enjoying reduced financial stress during a life transition that’s becoming more expensive for more Australians.

AMP Bank has also introduced a business finance loan for brokers themselves – a flexible credit line secured against recurring revenue rather than personal assets alone. The product is designed to fund acquisitions, mergers, succession plans, shareholder buy-ins, staff investment or cash flow management. One broker used it to enable a family succession plan, allowing a daughter and key employee to acquire shares without mortgaging personal property. Another facilitated a merger and brought younger brokers into ownership without liquidating assets.

“We consistently heard from customers about the pressures of rising living costs and the growing concern around carrying debt into retirement”

“Ultimately, our business finance loan empowers brokers to think strategically, scale their business and plan for the future with confidence”

AMP Bank’s broker-driven culture challenges convention with flexible lending, a business finance loan for brokers and broker-built technology – empowering Australians to grow wealth through property and plan for retirement

While it won’t make you a cappuccino, ScotPac’s Partner Portal makes helping commercial clients so fast and easy brokers will wonder how they did without it

The bank has paired this initiative with the Master Limit, a structure that lets customers manage multiple sub-accounts under a single approved lending limit. Rather than applying for separate loans to renovate, invest, consolidate debt or help family, customers can reallocate funds between sub-accounts as their priorities shift. “Customers can reallocate funds between sub-accounts as their needs change, giving them a highly adaptable way to manage their finances,” Christofides says. “This is especially valuable for customers with complex financial needs, those planning for major life events, or people nearing retirement who want to optimise cash flow and maintain financial freedom.” The design assumes that customer needs aren’t static. Life events, market opportunities and family circumstances change. The Master Limit treats that variability as the design brief rather than an inconvenience to be managed through repeat applications. For brokers, it’s also a competitive edge. Standard home loan products rarely allow this kind of structural flexibility. Being able to offer this feature gives brokers something tangible to differentiate their service and challenge the notion that mortgage products are all the same.

“Ultimately, our business finance loan empowers brokers to think strategically, scale their business and plan for the future with confidence,” Christofides says. It’s a calculated move. Brokers now write more than 70% of Australian home loans, and AMP Bank has built its growth strategy around supporting rather than competing with them. By providing capital for brokers to grow their businesses, without forcing them to leverage personal assets, AMP Bank is deepening its alignment with the channel.

Rethinking debt in retirement

Multiple goals under one limit

Building technology with brokers, not for them

Published 17 Nov 2025

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AMP Bank has rebuilt its loan origination platform, co-designed with brokers and fintech partners. The bank revamped its system from the ground up, with broker workflows as the central design constraint. The platform offers upfront digital verification of income, ID and property data before submission. Real-time credit and policy checks flag issues instantly, reducing rework. DocuSign loan documents are issued in 90 seconds. Personalised borrower videos with key contract details and settlement guidance are automatically generated. CRM integration eliminates duplicate data entry. Advanced fraud detection and automation run in the background.

For brokers, the platform includes live chat support with screen sharing, a training hub with webinars and self-paced videos, and ongoing feedback loops that shape release priorities. “Digital innovation is central to how we’re reshaping the broker experience,” Christofides says. “Features like real-time income verification, streamlined digital ID verification and automated processes save brokers hours of manual work and reduce friction for customers. The feedback from brokers has been positive – they see AMP Bank as moving faster, being more responsive, and focused on building tools that directly impact their ability to deliver better customer service.” The platform’s development process was unusually collaborative. Brokers helped define system workflows, test prototypes and refine interface language. Key features – mandatory fields, income verification options, tooltips, support tools – were broker driven. Feedback loops, including in-platform sentiment signals, continue to guide what gets built next.

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No loan reassessment for 10 years

Key features of AMP Bank’s new 10-year interest-only loan

Available to both investors andowner-occupiers

No reassessment required during the 10-year interest-only period

Flexibility to switch to principal and interest repayments at any time

Allows access to equity, enabling customers to free up cash flow, plan for retirement or fund other investment opportunities

Designed to maximise lifestyle choices and provide strategic financial flexibility

Backing brokers with capital

Advanced fraud detection and automation

Personalised borrower videos and CRM integration

DocuSign loan documents issued in 90 seconds

Real-time credit and policy checks to reduce rework and delays

Upfront digital verification of income, ID and property data

Key features of AMP Bank’snew broker platform

Built with brokers, for brokers

Live chat and screen share support for brokers

“We didn’t build something for brokers and ask for feedback. We built it with them at every step,” Christofides explains. This approach matters because banking technology is often designed for internal efficiency first, with broker needs considered later. AMP Bank is betting that reversing that logic – building first for broker workflows and accepting the operational complexity that creates internally – will deliver better outcomes for brokers and customers alike. Why now The timing reflects both market opportunity and strategic necessity. The broker channel has evolved from a minority distribution method to the dominant force in Australian home lending. AMP Bank originates more than 90% of its loans through brokers, so channel alignment isn’t just strategy; it’s fundamental to its business. “The timing to launch the AMP Bank Broker Platform, and the 10-year interest-only loan term, was shaped by the rapid evolution in broker and customer needs,” Christofides says. “Brokers have been asking for products and digital capabilities that help them stand out with their customers.” The new products address precisely those needs: managing debt into retirement, improving cash flow while maintaining property exposure, and structuring lending for multiple goals simultaneously. “Launching now means we can meet those needs at a time when brokers are under pressure to deliver more value, more efficiently,” Christofides says. “The 10-year interest-only product is a true market differentiator, offering flexibility and adaptability that are rare or unavailable elsewhere.” Early broker feedback suggests the bank is hitting the mark, particularly among customers nearing retirement or managing complex financial situations. That, in turn, is creating new commercial momentum – brokers report stronger engagement and improved conversion rates. The longer game AMP Bank’s strategy is grounded in three convictions about the future of Australian lending. First, that brokers will continue to expand their market share and influence. Second, that customers increasingly value flexibility over simplicity in their financial structures. And third, that banks willing to shoulder more operational complexity in service of those preferences will win long-term loyalty. “The next wave of change will be about deeper automation, smarter use of data, AI, and continuing to reduce pain points in the customer journey. But it will also be about culture – making sure banks design in true partnership with brokers,” Christofides says. “We see the broker channel as the engine of growth in Australian lending, and we’re only at the beginning of what digital transformation can achieve here.”

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