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Purple Circle Financial Services’ settlements increased by over 51 per cent in October over its previous record month in August.
The boutique national aggregation group has reported that its October loan settlements were up 51.06 per cent.
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This has followed a 14.33 per cent increase in settlements in August, and a 52.8 per cent increase in settlements from the previous financial year.
Commenting on the rate of loan settlements, the aggregator’s chief operating officer Frank Paratore attributed the growth to the quality of brokers it has recruited on the back of media campaigns and word-of-mouth referrals from existing brokers.
“Our unique share-based, co-op style offering is proving to be very attractive to brokers looking for more from their aggregator,” Mr Paratore said.
“Our broker members have a strong say in the strategic direction of the company, which allows us to not only provide brokers with what they need, but also what they want for their businesses to succeed.”
The group recently expanded its lender panel, adding neobank 86 400 to its panel.
Earlier this year, Purple Circle was also recently named Boutique Aggregator of the Year (less than 500 members) at the Australian Broking Awards 2020.
[Related: Aussie posts record October loan settlements]
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