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Launched at the end of last month, the platform allows partners to refer clients to services including consumer and commercial asset finance, business and personal loans, novated leasing, and car buying.
Drivemore was developed by the team behind Savvy, one of Australia’s largest asset finance broking groups.
The platform is currently aimed at mortgage brokers, as well as accountants, financial planners, and insurance brokers looking to provide asset finance solutions to their clients.
Partners can access Drivemore through a cloud-based referral portal that enables them to track customer inquiries, monitor updates, access reporting, and manage commissions throughout the referral process.
Businesses can also embed Drivemore’s client-facing technology directly into their websites, allowing customers to submit inquiries through an integrated digital interface. Partners may also use the back-end portal to manually submit and track referrals.
Drivemore said that the platform operates on a performance-based commercial model. Partners refer finance opportunities through the platform and receive a share of the commission when a transaction settles. The company said there are no platform or subscription fees.
“We’re excited to bring Drivemore to market as a turnkey solution for businesses looking to expand their product offerings and diversify their revenue streams the simple way,” Dan Adams, national partnership manager at Drivemore, said.
“With our state-of-the-art portal and technology, it’s never been easier to focus on growing your conversions while managing your leads simultaneously.”
Adams said the platform was developed to address what it sees as a lack of embedded finance platforms available to professional service firms.
“Drivemore bridges this gap by providing a turnkey platform that allows partners to expand from a single core service into multiple verticals, without additional cost, compliance burden or operational set-up,” Adams said.
Drivemore launched with a number of foundation partners across several professional services industries. According to the company, some partners have recorded lead-to-settlement conversion rate averages of up to 60 per cent.
[Related: Asset finance surges as businesses pursue productivity gains]