Innovation can only happen when brokers are involved at every stage of the process. It’s a relationship business after all
While every lender, brokerage, aggregator and broker association in the mortgage business uses technology, not all technologies are created equal.
But when MPA caught up with prominent players from across the industry to discuss the state of broker tech, it became clear that there are a few universal truths about what tech should bring to the table.
Speed and efficiency sit atop the no-brainer pile. As Peter White, managing director at the FBAA, says, “Speed and efficiency are the obvious advantages of improved broking technology, and in time this will help take care of all of the ‘grunt work’ involved.”
The big focus for broker tech advancements in 2025, notes White, is the huge benefits they have in improving application processing times, following up outstanding documents and enabling a 24/7 level of client support.
White also believes that as broker tech becomes more sophisticated, it will help brokers meet their primary governance obligations, most notably the responsible lending guidelines and best interests duty.
Echoing White’s comments, Melissa Christy, head of lending origination at AMP Bank, says, “Speed and efficiency are the basics, but great broking technology should go well beyond that.”
Source: MFAA The Value of Mortgage and Finance Broking 2025 report (Deloitte broker survey 2024)
Christy sees in broker tech a real opportunity to help mortgage professionals deliver better outcomes for customers. She says, “That means giving them tools that reduce admin, surface real-time insights and support smarter decision-making.”
Broker tech should be the “quiet partner that frees brokers to do what they do best: provide advice and build trust”, Christy adds.
Beau Bertoli, co-founder and chief revenue officer at non-bank lender Prospa, agrees that broker tech should go beyond simply providing speed and efficiency.
“First, it should integrate seamlessly to amplify a broker’s existing offering, reducing the mundane and manual pieces of day-to-day operation so that the broker is freed up to spend more time servicing their clients, allowing for relationships and trust to grow,” he says.
Bertoli believes advancements in broker tech should serve to elevate a broker’s offering and empower them to help clients in new areas to solve cash flow and finance-related challenges. “Furthermore, the technology brokers prioritise in using and upskilling … needs to be designed to enhance the human experience, not replace it,” he adds.
“Speed and efficiency are the basics, but great broking technology should go well beyond that” – Melissa Christy, AMP Bank
For example, the Prospa IQ innovative machine learning quoting engine removes the friction of manual credit analysis. “With this time-saving tool, brokers can now bypass the admin and jump straight into high-value, needs-based client discussions faster, more innovatively and more impactfully.”
Beyond speed and efficiency, Nicole Devine, general manager product, financial services at Mortgage Choice’s parent company REA Group, believes there are three core elements that technology unlocks, namely an even better customer experience; safe, secure automation; and even more choice.
“Technology should deliver an even better experience for the customer by minimising the friction that can exist in the home loan application process,” says Devine.
“Technology also allows brokers to strengthen their customer relationships through timely, relevant and personalised prompts so brokers can connect with clients at key moments. Through automating as many steps as possible, tech plays a fundamental role in making the home loan journey more efficient, while also keeping customer data safe.”
Choice is fundamental to the broking value proposition, Devine notes, “and technology has a key role to play in increasing the amount of choice for borrowers. Better tools, alongside product and policy search and selection support, enable brokers to broaden the choice they provide”.
“I’m very optimistic about AI and consider it a very powerful tool to propel our industry forward” – Peter White, FBAA
Marie Mortimer, chief commercial officer at Firstmac, says, “For me, the real role of broking technology is to take away unnecessary manual work so brokers can focus on what matters most – their customers.
“If we can remove repetitive processes, we not only lift productivity but also reduce rework and improve conversion rates for both brokers and lenders. It’s about creating space for people to do their best work, rather than being stuck in the mechanics of the process.”
At Commonwealth Bank, the lending giant’s general manager – third-party banking, Baber Zaka, says, “we believe broking technology should do more than deliver speed; it should enable brokers to provide strategic, personalised guidance in a dynamic lending environment”.
“Technology should be proactive, using data and insights to anticipate broker and customer needs,” Zaka adds. “It should be transparent, making information easy to access and act on.”
Gaining a competitive advantage
More than ever, having the best broker technology is crucial to gaining a competitive advantage in today’s lending market.
“Five years ago, brokers relied on static product tables and gut feel,” Bertoli says. “Today, real-time insights and predictive tools are guiding decision-making. It’s the exciting shift from the industrial age of lending to the dynamic digital era of intelligent broking, and we are at the forefront of this evolution.”
In Bertoli’s view, Prospa’s strategy is unique because it’s entirely focused on tangible outcomes that deliver clear value.
“The features we aim to implement are designed to serve SME needs, not internal efficiencies,” Bertoli says. “It is not just about better tools; it’s about a better way of working. Brokers are no longer just intermediaries – they’re the pivotal experience leaders, guiding clients with clarity, speed and confidence, and their role is integral to the client-broker relationship.”
AMP Bank has been particularly vocal about its broker tech innovations in recent months. Its overhauled broker portal, designed in collaboration with Simpology, has garnered a lot of attention since officially launching in August.
Christy stresses that the portal was designed in close collaboration with brokers. “We don’t just build technology for brokers; we build it with them,” she says. “That means our solutions are grounded in real workflows, not assumptions. We’re also taking the long view – investing in scalable, flexible infrastructure that can evolve with the industry.
“And crucially, we’ve hand-picked the best tech providers in the market to help us build technology that keeps the human connection front and centre.”
“Broker feedback doesn’t just shape what we do; it defines it,” adds Christy. “Our new lending platform was co-designed with brokers, from features to workflows, ensuring it solves the challenges they actually face. By putting brokers at the centre of development, we avoid assumptions and deliver technology that genuinely works for them, not around them.”
Close broker collaboration is clearly a fundamental aspect of developing new tech in the industry as a whole. As Mortimer says, “Why build something that doesn’t meet the needs of the people who actually use it? Broker feedback is central to ensuring technology delivers real value and practical benefits.”
“The best broking technology is co-designed with brokers, not built in isolation” – Beau Bertoli, Prospa
Speaking of competitive advantages, Mortgage Choice has a clear differentiator through its relationship with REA Group, which means Mortgage Choice brokers are uniquely positioned to connect with the more than 12 million Australians who visit realestate.com.au each month.
“Our brokers also benefit from the power of PropTrack, REA’s property data and insights business,” says Devine. “Our ability to connect property data with property seekers and finance at scale is what makes Mortgage Choice unique.
“At Mortgage Choice, feedback from our brokers is fundamental to system design,” she continues. “The only way to create technology that delivers real value is to involve the people who use it every day. That’s why we consult our broker research panel and tech working groups before we even start coding and get them to test prototypes and features along the way.”
White agrees that getting broker feedback is critical when implementing new broker technologies.
“Broking technology will only reach its full potential if brokers are co-designers,” he says. “As the end users, it’s essential that brokers have a seat at the table in developing these new technologies. The insights brokers bring can’t afford to be ignored in this process because they’re the ones on the frontline. Of course, we also welcome input from other stakeholders as part of this co-design process.”
Bertoli says, “The best broking technology is co-designed with brokers, not built in isolation.” This was the approach Prospa took when crafting Prospa IQ. “We had to identify the barriers brokers faced and how our technology could be used to create better experiences for clients.”
While every lender uses tech to gain an upper edge, CommBank is using its heft to ink strategic partnerships with the likes of OpenAI, Amazon Web Services and Microsoft. This is “giving us early access to cutting-edge tools that accelerate innovation and broker enablement”, says Zaka.
CommBank’s broker tools are informed by broker feedback “to enhance usability, transparency and trust, designed to make technology work for brokers, not the other way around”, Zaka adds.
AI: buzzword or game-changer?
There can be no conversation about technology in 2025 without bringing up artificial intelligence. But the big question is – is AI just another buzzword or an actual game changer for the industry? There appears to be pretty clear consensus on the matter, although there is still debate on how to implement AI in a beneficial and ethical way.
“AI is absolutely a genuine game changer,” Mortimer confirms. “I’d compare it to the arrival of the internet – disruptive, revolutionary and something that will reshape the way we work. Right now, we’re sitting at the peak of the hype, but what comes next are the real productivity gains. That’s where the true transformation will take place.”
Zaka notes that AI is already reducing effort across customer, broker and operations workflows, speeding up credit assessments, surfacing policy scenarios and streamlining broker processes.
He adds, “While I understand there’s buzz around AI replacing the human touch, our focus is on using it to enhance service delivery.” AI, Zaka explains, helps anticipate broker and customer needs through data insights, and assists with practical tasks like drafting communications. Yet human expertise “remains essential in complex, high-stakes decisions”.
In Bertoli’s view, yes, AI is a genuine game changer, but only when applied with purpose. In broking, he explains how AI is already transforming the way data is analysed, deals are structured and risk is assessed.
“The key is not just having AI but having the right AI, built around broker workflows and customer needs,” Bertoli says. “When done right, it’s not hype – it’s high-impact.”
Devine points out that “AI is a game changer not just for the broking industry but for all industries”.
She adds, “That said, brokers are ultimately responsible for the advice and service they provide, and we can’t risk that responsibility by being careless with our AI adoption.”
“Technology has a key role to play in increasing the amount of choice for borrowers” – Nicole Devine, Mortgage Choice
Mortgage Choice has been “very intentional” with its AI rollout by focusing on solutions that help brokers save time and build richer relationships with their customers, Devine says.
She adds that Mortgage Choice offers a suite of broker reports that use proprietary REA Group data and sophisticated AI modelling to provide predictive insights into which customers have the highest likelihood to refinance. “We also launched AI-powered natural language search across some of our Mortgage Choice platforms.”
Earlier this year, Mortgage Choice brokers also received secure access to Google’s Gemini AI tool, which helps them with simple but tedious tasks such as writing emails, summarising text and fact-checking files and documents, Devine says.
Mortgage Choice brokers also gained access to AI-powered insights through NextGen’s open banking tool, the Frollo Financial Passport.
In Christy’s view, “AI is absolutely a game changer, when applied thoughtfully”.
AI’s power lies in streamlining document collection, boosting data accuracy and surfacing insights that help brokers act faster and smarter, she says. “But AI on its own isn’t the revolution; it’s AI embedded in a broader ecosystem that drives real change.”
"The real role of broking technology is to take away unnecessary manual work so brokers can focus on what matters most – their customers" – Marie Mortimer, Firstmac
Bertoli says, “AI should be seen as a co-pilot, not a replacement.” The best innovations in broking tech “are those that free up time for deeper client relationships, not diminish them”, he adds.
“By automating repetitive tasks and surfacing better insights, AI allows credit teams and BDMs to focus on what they do best: building trust, solving problems and delivering tailored solutions.”
Bertoli believes the broker’s role will only increase in importance as they evolve into “a fully fledged adviser to their client”.
Retaining the human touch
One thing brokers are becoming increasingly vocal about is how the broking industry intends to implement AI tech in a way that retains the human touch they value so highly.
Christy acknowledges that the idea that AI may replace human input is an understandable concern, “but it’s also a misconception”.
She explains, “AI isn’t here to replace the human touch; it’s here to enhance it. By taking care of repetitive and manual tasks, AI allows credit teams, BDMs and brokers to focus on what truly matters: understanding complex customer needs, building relationships and providing expert guidance.”
Mortimer agrees that AI is “an enabler, not a replacement”. While conceding that in certain circumstances there will be less of a requirement for the human touch, “people will always want to deal with people – that’s not going away”, he says. He predicts that those who embrace AI for efficiency while keeping the human element at the heart of what they do “will stand out and thrive”.
White says, “I’m very optimistic about AI and consider it a very powerful tool to propel our industry forward. Yes, we need to be vigilant about how AI is used, but it’s also essential that we’re guided by expert advice, both locally and internationally.
“We need to heed what global experts are saying. While AI might streamline some client interactions, it will never be a substitute for the genuine human touch and trust that a broker brings to the client relationship.”
Devine points out that “relationships define the broking industry. Whether that’s the relationship between brokers and their customers or the relationship between brokers and banks. Good tech helps our industry be more strategic and intentional with those relationships by removing points of friction in the home loan process and freeing up time for humans to focus on building the relationships that make this industry what it is.”
At CommBank, Zaka says, “we understand that brokers value the human touch, especially in moments that require empathy, judgement and experience. Our approach to AI and automation is designed to enhance that human connection, not replace it but to boost productivity.”
Upcoming innovations
As tech and AI evolve, brokerages, lenders, aggregators and broker associations continue to roll out exciting new innovations that aim to improve the customer experience.
Mortimer reveals that streamlined loan processing is high on Firstmac’s agenda, citing reducing manual touchpoints and making good use of existing data as key focus areas.
“Much of the information that brokers pass on already exists elsewhere; it’s about validating and connecting those sources so decisions can be made more quickly and with greater confidence,” says Mortimer. “There will always be a role for human judgement, but it should be informed by accurate and trustworthy data.”
Through technology, Prospa aims to provide “more holistic experiences for brokers, enabling them to better serve their clients by focusing on innovations that simplify complexity and unlock opportunities”, says Bertoli.
To make good on these promises, Prospa recently launched its partner app, which contains unique quality-of-life features.
“This was the motivation behind Prospa IQ,” says Bertoli. “To enable brokers to initiate every conversation with a predetermined outcome. By leveraging data-driven insights to initiate funding conversations, we have established a new standard – enabling every funding conversation to begin with a number, not a guess.”
“We understand that brokers value the human touch, especially in moments that require empathy, judgement and experience” – Baber Zaka, CommBank
Over at Mortgage Choice, the national brokerage network has launched a number of ‘Gemini Gems’ as part of its AI Academy. These act as agents that do the heavy lifting on administrative tasks, and it continues to build more of them.
In November, Mortgage Choice’s Professional Development Days will take a deep dive into practical applications of AI, to upskill brokers. “We’re experimenting with agentic agents that can take action, including a document management agent to help brokers classify documents and natural language search for policy and product,” says Devine.
AMP Bank’s aforementioned broker platform, meanwhile, was not designed to be set and forget. Christy explains, “Its modular design means we can continue to innovate at scale, embed AI in the future, (with) further automation and smarter CRM integration as the platform evolves.”
What does that mean in practice? “Brokers will see applications approved faster; be more confident of decisions; have intelligent data capture, real-time portfolio insights and tools that help identify customer opportunities earlier,” says Christy. “And because it’s all within one broker-first system, the experience feels seamless, not stitched together.”
CommBank is looking for ways to make it easier for brokers to get the help they need without picking up the phone. It will soon enable escalations to be submitted directly via CommBroker, removing the need to call the Broker Support Hub, “allowing brokers to focus on what matters most, their clients”, Zaka explains.
“At the same time, we’re rolling out our new Broker Relationship Optimisation platform designed to help relationship managers better understand broker businesses and anticipate their needs.”
As for FBAA? “Can I just say, watch this space on both issues,” says White.
“The future for brokers is very bright, and I urge them to constantly embrace new technologies,” he adds. “Day in, day out, brokers are engaged in ‘paper warfare’, but the technologies being developed are going to help liberate a whole new generation of brokers from this drudgery.”
