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The non-bank has launched a new asset finance offering to better support brokers and their commercial clients.
Non-bank lender Resimac has announced a new asset finance offering that includes updates to its product and credit policies, advancements in its online service, and enhanced broker support.
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The updates come after extensive feedback from the broker channel, according to Resimac, with the non-bank lender seeking ways to make it “easier and more efficient to work with”.
Updates to Resimac’s commercial product and credit policy include:
- Revised customer tiers that have a greater focus on customer needs rather than asset type.
- Simplified client profiling with flexible loadings tailored to diverse client requirements.
- Competitive premium pricing for well-established businesses.
The non-bank lender also noted the work it had completed in the online space, including “enhanced broker portal visibility and new self-service capabilities for a more streamlined experience”.
Brokers will reportedly now have the ability to generate and manage contract platforms directly through Resimac’s asset finance broker portal, for example.
Resimac said broker feedback to these changes, as well as a newly established support team underpinned by a focus on improved communication and consistent processes, has been positive.
Michael Moloney, Resimac general manager, asset finance, said the non-bank lender was eager to see how these changes helped brokers.
“We are excited to announce these changes, which underscore our strong commitment to our brokers, enabling them to offer broader solutions to their customers. We’ve listened to broker feedback and simplified our offerings to enhance transparency in the market,” Moloney said.
“We believe we now have one of the most competitive offerings in the sector and are poised to be a major player for years to come. Brokers can look forward to more great news soon, including new products like consumer asset finance and novated leasing.
“As we continue to evolve on our journey, we remain dedicated to adapting to the needs of our brokers and customers.”
Investment and focus
In August, the non-bank lender announced rapid growth in its asset finance portfolio for the full year ending 30 June 2024.
The non-bank lender reported 60 per cent growth in asset finance settlements that saw the total book sit at $1.1 billion, nearly double the $0.6 billion reported during the financial year 2023.
At the time, Resimac’s general manager of distribution, Chris Paterson, said the growth was due to the lender offering brokers product options that support their business growth and the ability to find solutions for a broad range of customers.
“Brokers and customers understandably expect products that suit their needs and our goal is to satisfy these needs,” he said.
“We regularly consider and review product opportunities and will continue to do this where we see growth potential. This may come through credit parameter enhancements, products for different asset classes or a combination of both.”
[Related: Resimac buys car loan book from major bank]
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