Marketplace sees strong broker engagement as demand for asset finance grows
Asset Finance Exchange (AFX), the platform designed to connect mortgage brokers and other finance professionals with asset finance specialists, has achieved $80 million in settled transactions within its first year of operation.
AFX, which operates under the umbrella of LMG and uses proprietary technology to streamline referrals from brokers to asset finance experts, facilitated over 1,800 deals, with the average transaction valued at nearly $45,000.
“The broking industry continues to evolve, largely driven by increased consumer demand for alternative finance services from mortgage brokers, such as car finance, personal loans and business loans,” said Jordan Mutton (pictured top), general manager at Asset Finance Exchange.
“Previously, options were limited for servicing these demands – that’s where the Asset Finance Exchange has assisted. But it goes further than just a referral solution, it acts as an avenue to gauge whether bringing asset finance ‘in-house’ for a mortgage brokerage is a viable solution – whether that be through a specialist asset finance broker or upskilling to write asset finance themselves.”
Launched in October 2024, AFX is now used by thousands of brokers, with more than half regarded as active referrers and nearly 80% having made multiple referrals in the past year.
“There’s no greater gauge of broker sentiment than how brokers have engaged with the Asset Finance Exchange and the respective referral hubs,” Mutton said. “Seventy-five percent of brokers have submitted more than one referral, with over half having sent through more than five referrals.
“We’ve been very selective in terms of the referral hubs on the Exchange, with customer service and lending expertise at the forefront of those appointments. Hitting $80 million in the first 12 months demonstrates that we’re on the right path.”
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