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Judo Bank has joined the lender panel of Choice Aggregation Services, with the move reportedly expanding its reach to almost three-quarters of the broker market.
Judo Bank chief third party officer George Obeid commented that the partnership with Choice will expand its reach into the commercial and asset finance broker community and help support Judo’s growth in the market.
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“Since the start of COVID, Judo has more than doubled the size of its loan book at a time when lending to SMEs by the banking sector has contracted,” Mr Obeid said.
“Partnering with Choice, one of Australia’s largest and most respected finance broking operations, will help extend Judo’s reach even further and support our continued growth in the market.”
Choice, which is part of the Loan Market Group, now has more than 1,400 members and a loan book exceeding $80 billion.
Choice, PLAN and FAST joined the Loan Market Group in March, after it finalised its acquisition of the three aggregators from NAB.
Stephen Moore, chief executive of Choice, added the aggregator is continually looking for opportunities to broaden its offerings for brokers and their customers.
“The SME segment continues to be a key growth area for Choice brokers,” Mr Moore said.
“Judo has established itself as genuine alternative bank who truly understands the difference needs of SME clients.”
Choice also added neobank 86 400 to its lender panel in May.
The aggregator more recently formed a partnership with finance brokerage Simplicity Loans & Advisory, allowing Choice brokers to offer white label products to their commercial customers through a digital referral program, operated by Simplicity.
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