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Speaking on Broker Daily’s Finance Specialist podcast this week, Provident Lending & Business Solutions broker and Accendo Financial partner Trent Carter spoke to host Liam Garman about the launch of the residential and commercial aggregation offerings of Viking Aggregation.
While Viking is new to residential aggregation, Carter noted the group is not entering the market from a standing start, having already established a presence in asset finance and commercial lending.
As such, he suggested that Viking’s move reflects broker demand for broader capability, rather than a speculative attempt to disrupt the residential space.
“This looks like a case of brokers saying, ‘We need a residential bow to the string’, and Viking responding to that demand,” Carter said.
However, he cautioned that residential aggregation remains a crowded and highly competitive segment.
“There’s inherent risk in a very crowded market with some significant big players,” he said.
Carter pointed to past commission pressures in the aggregator market, where competition on splits led to a “race to the bottom” and forced aggregators to rethink their business models.
In response, many aggregators diversified their income streams, expanding into white label lending products, technology platforms, and IT services to support broker businesses.
That shift, Carter said, has raised the bar for new entrants.
“If they’re a bit of a me-too, a small player in a crowded market could be tough going,” he said.
Tech and AI only matter if they deliver
The commercial broker noted that Viking has positioned itself as a technology- and AI-driven aggregator, but Carter said buzzwords alone are unlikely to sway brokers.
“What it will come down to is how it’s executed and how it fits into a broker’s business,” he said.
According to Carter, technology must enhance efficiency, free up time, and increase capacity if it is to be meaningful.
“Brokers will migrate to what makes life easier for them,” he said on the Finance Specialist podcast.
“That’s especially important in a market that’s largely a cottage industry – a lot of one- and two-person businesses without large offices or support staff.”
Carter said platforms that genuinely reduce friction and improve workflow are far more compelling.
For brokers weighing up new aggregator options, Carter said the key question is not whether a platform sounds innovative, but whether it tangibly improves how they operate day-to-day.
“If the technology enhances capacity and supports the way brokers actually work, then it’s got a real chance,” he said.
“If not, it will still have a place – but likely at the smaller end of town.”
Find out more about Viking Aggregation and its impact on brokers in this week’s Finance Specialist podcast here:
[Related: Stephen Moore appointed chairman of Viking Aggregation]