Finsure settled $15.6b in loans during FY20, bringing the total Aggregation loan book to $45.4b. Finsure’s market share continues to grow through the year recording an all-time monthly record of $1.5b in settlements during June 2020, a run rate of above $18b. This was the second consecutive record month for Finsure, an outstanding performance against the backdrop of COVID-19.
Finsure launched its new cloud-based broker CRM platform Infynity in October 2019 and successfully transitioned Finsure’s large broker force to the new platform over FY20. Infynity is industry-leading with open API connectivity enabling Finsure’s marketplace to integrate with more products and services like Core Logic. This successful implementation will increase productivity and allow Finsure to refocus on broker recruitment in FY21. Broker numbers also increased to 1,740 at the end of June, an increase of 66 brokers YoY.
“Despite COVID-19, Finsure’s growth continues to be a standout with record settlement volumes and strong broker recruitment anticipated. Finsure’s settlement volumes and loan book grew 23% and 19% in FY20 year on year despite difficult market conditions. This growing scale is now driving sustainable profit growth in its own right and creating greater opportunity for the distribution of higher margin products within the banking and wholesale units,” said Finsure Managing Director John Kolenda.
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