MA Money collaborates with the fintech platform
The non-bank mortgage lender has partnered with Simpology to create a new online loan origination system for brokers.
Melanie de Jager, MA Money’s (formerly known as MKM Capital) national sales manager, stated that the online loan origination system will allow brokers to submit “higher quality loan applications with less effort” and the digital offering will improve the experience for brokers and their clients.
This follows Simpology partnering with Athena Home Loans in November 2022 to create a new mortgage application platform for brokers known as “Loanapp”.
In addition, MA Money will launch a core banking platform that will allow it to offer split loans, set-off and withdraw to borrowers, with online banking to be offered in the first quarter of 2023.
Of the partnership with Simpology, Ms de Jager stated: “Through smart validations and third-party integrations, receiving credit-ready applications has been at the heart of our technology vision, allowing us to accelerate assessments and improve time to decision.”
De Jager also announced that the non-bank lender has launched a new product range which includes a premium mortgage package following rebranding.
Acquisition and rebranding
As of November 2, 2022, MA Money changed from its previous moniker MKM Capital to be more aligned with MA Financial Group following its acquisition earlier this year.
De Jager said at the time that the business offering had “undergone significant change” since MA Financial took control.
“We believe the new brand better reflects the next evolution of the business and our commitment to being the lender of choice for brokers and their customers“, commented Mrs de Jager.
Already have an account? Sign in below:
“Becoming part of MA Financial has been exciting for MKM, which has been providing Australian borrowers with tailored mortgage solutions since 2004.
“As MA Money, we will leverage MA Financial’s funding power and technological capabilities to become a lending partner for brokers and their clients.”
Furthermore, the non-bank lender had expanded its management team with several new hires since the acquisition.
Appointed as the lender’s finance was former Zip Co CFO Akeshni Gour, along with Holly Pickering as head of origination (formerly director of credit risk strategy at Athena Home Loans) and Bluestone’s former senior product manager Tom Christopher as chief operating officer.
The lender had also hired three additional business development managers to “ensure a consistently strong brokerage experience with MA Money”.
[RELATED: Non-bank lender rebrands following acquisition]
