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The non-bank lender is taking further steps into the broking space, boosting its offerings under Loan Market Group.
SocietyOne will now offer loans under Loan Market, PLAN Australia, Choice Aggregation and FAST Group, following the expansion of the non-bank lender's partnership with Loan Market Group.
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SocietyOne and the aggregation group first commenced their relationship in 2019 when the lender joined Loan Market’s panel.
Following the sale of PLAN Australia, Choice Aggregation and FAST Group by NAB to Loan Market Group earlier this year, the arrangement between SocietyOne and Loan Market Group has now widened, with the non-bank now available under all four of the group’s aggregation businesses.
SocietyOne chief commercial officer Tony MacRae said that the lender was “proud to partner with the Loan Market Group”, bringing the “SocietyOne experience to their brokers and ultimately their customers”.
“Simple, fast, and easy personal lending is what we provide where a broker can get a quote in two minutes and complete an application in about five minutes,” Mr MacRae added.
“This is a great opportunity to offer our award-winning products and service through a broker network that prides itself on delivering great customer outcomes.”
Loan Market Group executive chairman Sam White noted that he believed SocietyOne aligns strongly with each of the group’s businesses.
“Loan Market Group offers industry-leading support for brokers across all our aggregators. Providing access to best-in-class solutions for the wide-ranging needs of their customers is part of that commitment,” he added.
“The focus SocietyOne places on investing in their technology solutions, along with their strong offering to customers, makes them a good fit for all our businesses.”
SocietyOne’s latest step towards the broker channel reflects a series of recent motions towards an increasing presence within the space.
Since the start of December, products from SocietyOne have been included in the fintech Nodifi’s loan origination platform.
In August, SocietyOne officially expanded its broker team, including the establishment of a Queensland occupancy, less than two months after the launch of its digital broker platform.
Speaking of the decision at the time to expand its broker channel, Mr MacRae said that investing in the broker BDM team, while partnering with more brokers was “key to SocietyOne’s long-term strategy”.
[Related: Neobank announces 1st aggregator partnership]
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