iscover 
Developed in-house, Sentinel is an AI-powered risk assessment tool that analyses connections, histories and suspicious patterns that could indicate previous misconduct or heightened risk.
The tool assesses a range of indicators, including adverse histories, links to known problematic entities, identity concerns, potential conflicts of interest, undisclosed associations and referral relationships, including those involving accountants.
The national aggregator said Sentinel was designed to identify connections that may be difficult to detect through conventional assessments, as fraud becomes more sophisticated and organised criminal networks operate across multiple institutions.
Finsure CEO Simon Bednar added that the tool reflected the aggregator’s focus on identifying risks earlier in the onboarding process.
“We have invested heavily in compliance and governance frameworks, and Sentinel is another tangible example of that investment,” Bednar said.
“To be clear, this is not about identifying every broker who may have some tangential connection. This is precision intelligence that augments better decision making for our people, from the outset.
“It’s been very well documented that fraud is becoming more sophisticated. Organised criminal networks are moving between institutions and exploiting gaps in our intelligence sharing. Sentinel gives us the ability to see connections and patterns that isolated institutions usually can’t.”
During its first six weeks, Sentinel helped Finsure decline 13 prospective brokers before they joined its network.
The aggregator said the tool identified association risks that may have been missed through surface-level assessments.
“Sentinel is there to protect our customers, lenders and our business from fraud, but it also protects good brokers. By identifying the real bad actors before onboarding, we reduce the risk that quality brokers are later caught up in investigations based on indirect associations,” Bednar said.
Sentinel operates under defined procedures, including standard queries and escalation pathways, which Finsure said were intended to ensure consistent assessments across its network.
Fighting fraud
Finsure has previously faced the fallout from alleged fraud within its wider broker network, terminating its sub-aggregation agreement with Hai Money in April amid concerns about suspected mortgage fraud.
The issue escalated after major banks moved against brokers operating under Hai Money, with Bednar citing potential reputational damage, legal exposure and regulatory scrutiny as concerns behind the decision.
Hai Money then challenged the termination in the NSW Supreme Court, saying Finsure had acted unlawfully and ultimately secured an interim injunction.
In May, Finsure and Hai Money jointly confirmed they had settled the dispute and mutually agreed to end the sub‑aggregation agreement.
Finsure has since sought to shore up its fraud defences in its network.
In July, the aggregator appointed Greg Milward as its new risk and compliance manager, a role Finsure described as central to embedding a more proactive, enterprise‑wide approach to managing misconduct risk and rebuilding trust with lenders and its broker network.
Then in September, Finsure added document fraud detection to its newly built CRM through a partnership with technology provider Fortiro.
Now with Sentinel, Finsure said it plans to continue refining its detection capabilities and integrate it with industry intelligence frameworks. It is also participating in industry discussions around information sharing.
“Sentinel is part of our broader strategy to ensure our network and our industry as a whole are protected from bad actors with hidden agendas,” Bednar said.
“We will continue to learn and share whatever we can with our brokers and with the industry to help every player in our sector combat fraud more effectively.”
Broker numbers down despite loan book growth
The launch comes as Finsure’s broker network remains smaller than it was at the end of 2025, despite continued growth in its loan book.
MA Financial’s (which owns the aggregator) September quarter update showed Finsure’s managed loans increased 19 per cent annually to $197 billion, while its broker count stood at 3,865 – down from 4,208 at December 2025.
The aggregator’s network was largely unchanged from June, when it had 3,866 brokers, with MA Financial attributing the trend to “an increased focus on active brokers and efficiency”.
Separately, WealthX research based on Australian Securities and Investments Commission data found Finsure recorded a net reduction of nine credit representatives during the September quarter. The research tracks registered individuals across controller groups and measures a different population from Finsure’s reported broker network.
[Related: How does ASIC view the use of AI in broking?]
Want to see more stories from trusted news sources?Make Broker Daily a preferred news source on Google.
