The platform is aimed at digitising much of the process around commercial loan applications – the primary business of Global Capital – for their brokers with AI, then using the information in these forms to match a borrower to the best-suited lender.
Mr West said the system could also give more accurate information regarding the fees, interest rates, and other charges that would help clients make important financial decisions.
“If you go to someone and you have a 2 per cent variance, which is not uncommon, obviously their ability to make a decision is not as accurate as if you come back to them within half of a per cent or a quarter of per cent,” Mr West said.
Global Capital Commercial has sought to advertise the benefits of Lenflo beyond commercial brokers, however, and delivered a pitch to home loan brokers.
It claims Lenflo “will help brokers diversify and significantly grow their business” into other areas after the Hayne royal commission recommended a swath of changes to the home loan broking industry, including a switch from a lender-paid style of remuneration to one where all fees are paid by the borrower.
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