AI for Mortgage Brokers · Australia
You handle the advice.AI handles thedocument chase.
A broker's pipeline stalls on missing payslips far more often than on lender decisions. NOYS automates the document chase, status updates and review reminders around each loan. Your judgement on the best loan for the client, and the record of it, stay with you.
Updated
A loan file is mostly waiting.
Take a typical refinance for a sole broker with one support person. The first meeting takes an hour. After that, the file spends days waiting on payslips, bank statements, ID, a rates notice and a signed privacy consent. Each missing item means another email, another text and another look through the inbox.
Once the application is in, the client wants to know where it is up to, the real estate agent or conveyancer may ask too, and every answer means checking the lender portal. After settlement the file goes quiet until the fixed rate ends and the client shops around without telling you.
None of that needs a credit licence. It does need to be consistent, recorded and on time, which suits automation.
Automations
Five workflows worth automating first.
Document collection
Client portal + emailSends a checklist based on the loan type, checks uploads as they arrive, and follows up on what is missing. Example: a self-employed borrower still owing two years of tax returns and a BAS.
Application status updates
CRM + SMSSends the client a short update at milestones you choose, such as submitted, conditional approval and unconditional, so they stop needing to call.
Enquiry response and booking
Web form + calendarReplies to new enquiries quickly, asks a few basic questions about the purchase or refinance, and books a meeting. It never recommends a product.
Fixed rate expiry reviews
CRMSpots clients whose fixed rate ends in the next few months and invites them to book a review before the rate rolls over.
File note first draft
Notes + CRMDrafts a meeting note from the broker's own notes covering what the client asked for and what was discussed, for the broker to complete and approve.
Best interests duty, record keeping and privacy.
ASIC's Regulatory Guide 273, Mortgage brokers: Best interests duty explains what ASIC looks for when it assesses compliance with the best interests obligations in Part 3-5A of the National Consumer Credit Protection Act 2009. The guide says brokers must comply with these obligations from 1 January 2021.
Records matter most for automation. In the full RG 273, ASIC says it expects brokers to keep records of how they acted when providing credit assistance, including the inquiries they made into the consumer's circumstances and how they considered, investigated and assessed the products they recommended. It expects those records to clearly show compliance with the best interests obligations, and lists items such as a copy of the credit guide provided to the consumer. RG 273 also points brokers to RG 209, Credit licensing: Responsible lending conduct for record keeping on responsible lending.
So our builds are designed to add to your records. Every automated request, reminder and client reply gets logged to the file, which helps when compliance asks how a recommendation was reached. The recommendation itself is never automated.
Privacy is the other half. The OAIC's small business guidance lists Part IIIA of the Privacy Act, which regulates the handling of consumer credit information including credit reports, among the obligations that can apply to small businesses. Its guidance on commercially available AI products recommends as best practice not entering personal information into publicly available AI chatbots. Payslips and bank statements stay out of public tools.
What the Sprint looks for in a broking business.
The Sprint is a 45-minute interview followed by a written report. The broker and whoever handles processing take us through one recent loan, from first enquiry to settlement and beyond.
We look for chasing that repeats on every file, status checks that happen by phone, and post-settlement contact that depends on memory. We also check how each step lands in your file notes, because an automation that saves time but leaves a gap in the record is not worth building.
The report ranks the automations worth building, each with a fixed Build price. If we cannot find five hours a week, the $999 comes back.
Published pricing.
Mini sprint
Free
15 minutes. We look at one workflow and tell you if it is worth automating.
The Sprint
$999
45-minute interview and a written report. Five hours a week found or the $999 comes back.
The Build
From $1,500
One automation, built and live. Fixed price, quoted in your Sprint report.
The Concierge
From $1,200/mo
Two working sessions a month. Month-to-month.
All prices in AUD.
Common questions.
Does automation help or hurt best interests duty compliance?
It helps if it adds to your records. ASIC's RG 273 expects brokers to keep records that clearly show how they complied, so NOYS builds log every request and reply to the client file and leave recommendations to the broker.
Can AI recommend a loan to a client?
Not in our builds. The best interests obligations sit with the broker, as ASIC's RG 273 explains, so automation handles collection, reminders and updates only.
Is it safe to send payslips and bank statements through an automation?
It can be, if the tools are chosen carefully. We use business accounts with documented data terms and never public chatbots, in line with the OAIC's AI product guidance.
Will it work with our CRM and aggregator software?
Usually, yes. Where the software has an API we use it, and where it does not we work through email and forms. The Sprint report spells out which before you commit.
How much does it cost?
The Sprint is $999 AUD, and if we cannot find five hours a week the $999 comes back. A Build starts at $1,500 AUD, fixed price. The Concierge starts at $1,200 AUD a month. The first 15-minute mini sprint is free.
Related
Other industries
By city
Start with a free 30-minute call.
We'll ask how many loans you write, which CRM you use and where each file loses the most time. If automation makes sense, we'll scope it on the call.