Loan Market Group and Nodifi to merge

  • By Zilla Efrat

Loan Market Group (LMG) and fintech Nodifi will merge their asset finance operations, consolidate personnel and technology on 1 July to deliver an industry-leading asset finance solution.

As a result of the merger, LMG, Australasia’s largest network of brokers, will have access to 80 asset finance support specialists, as well as Nodifi’s innovative application and compliance platform.

In addition to consumer and commercial asset finance solutions, the network of more than 5,000 brokers will also be able to support their customers with new unsecured business lending and personal loans markets through the partnership.

“Last year, LMG committed to achieving our vision of delivering a world-class asset finance solution for all brokers and their clients,” explains LMG executive chairman Sam White.

“Asset finance for mortgage brokers requires a fully integrated service offering. Bringing together our specialists with Nodifi’s market-leading tech platform and highly experienced asset finance personnel cements LMG as the home for all good brokers.”

White says experienced asset finance writers will increase efficiencies via the Nodifi platform, delivering enhanced outcomes to clients. Mortgage brokers who occasionally lodge asset finance, business and personal loan applications will also benefit from support services, education and Nodifi’s deep expertise in this increasingly complicated market.

The merger represents a partnership of two family-owned businesses with no bank ownership.

Nodifi CEO Tom Caesar says Nodifi shares LMG’s goal to simplify the way brokers run their businesses, unlock greater opportunities through tech innovations, and strengthen broker-client relationships.

The demand for quality asset finance solutions over the last 18 months has resulted in Nodifi recording a 686 per cent increase in loan originations over the period.