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We started off as an asset aggregator, and that’s been built very successfully. We hit profitability ahead of plan, and we now have over 400 brokers within that business.
But there’s a gap, we think, in aggregation services to commercial brokers. We know that there’s an appetite… from a broker perspective, there’s a real need to deliver a proposition around diversification.
Clive Kirkpatrick
Managing Director of Viking Financial Solutions
Most lenders were excited to see something different. With commercial lenders, once you demonstrated the platform, they were hugely excited. Some have even shared some of their credit policy, so we can actually build a gateway into their portal.
The essence of that is if they get a really well-constructed deal, it helps them turn it around faster. This helps them with their efficiencies internally, but it also helps the broker and the broker’s customer get an answer quicker. It’s simple things but done well.
The overall strategy at Viking is to be platform-agnostic. We look at best-of-breed platforms, and we plug those platforms into Raven Central – the overarching platform where we drive data out of other plug-ins.
One of the reasons I joined Viking was the tech stack – it was so different to what I’d seen through my career. It uses five AI engines. The model that we have, which we call CARIE (Commercial Asset Resi Intelligence Engine), means these five engines argue with each other to give the best results.
It’s not just giving the lender what it wants. It tells the story based on the customer’s information, the financials, the underlying assets, and the strategy that the customer wants to put in place with the broker. It can create a document that is just unbelievable.
The overall strategy at Viking is to be platform-agnostic. We look at best-of-breed platforms, and we plug those platforms into Raven Central – the overarching platform where we drive data out of other plug-ins.”
— says Clive Kirkpatrick, Managing Director of Viking Financial Solutions
The overall strategy at Viking is to be platform-agnostic. We look at best-of-breed platforms, and we plug those platforms into Raven Central – the overarching platform where we drive data out of other plug-ins.
The overall strategy at Viking is to be platform-agnostic. We look at best-of-breed platforms, and we plug those platforms into Raven Central – the overarching platform where we drive data out of other plug-ins.”
— says Clive Kirkpatrick, Managing Director of Viking Financial Solutions
One of the reasons I joined Viking was the tech stack – it was so different to what I’d seen through my career. It uses five AI engines. The model that we have, which we call CARIE (Commercial Asset Resi Intelligence Engine), means these five engines argue with each other to give the best results.
It’s not just giving the lender what it wants. It tells the story based on the customer’s information, the financials, the underlying assets, and the strategy that the customer wants to put in place with the broker. It can create a document that is just unbelievable.
Because of the proposition we’ve built, we’re looking for brokers that want to grow their businesses. Even if you’re an established commercial broker, we can help you through building an effective and efficient platform that can turn your deals around quicker and take some of that labour-intensive work out of your business. We are also looking for brokers that are keen to diversify their business cross commercial, residential and asset finance through one integrated platform.
There’s a heap of interest from brokers. There was a saying I heard from an old aggregator head: ‘For every person that has a business loan, he also has a house and a car.’
So, if you look at it from that perspective, you are missing out on opportunities. I know mortgage brokers that have relationships with commercial specialists and asset specialists, so they refer deals, so the customer gets looked after. But that’s a piece of pie you’re not earning yourself.
“If you look at it from that perspective, you are missing out on opportunities.”
— says Clive Kirkpatrick, Managing Director of Viking Financial Solutions
If you are a mortgage broker, the platforms that are provided to you by aggregators are effective and efficient – you can turn a deal through relatively quickly. But that option is not really available in the commercial market. The methodology of how you get a deal through is quite different. It does take a bit of time to learn how to collate a deal, analyse it, and put it to a lender.
If you’re busy as a mortgage broker, perhaps you don’t have time to step back from your business to do something a little different.
With most lenders, there’s not always a gateway to put a deal directly into a portal in the same way as there is in residential mortgage lending.
With Raven Commercial, we’ve built a platform where commercial lenders have been involved throughout. The workflows are product-specific and are built around how a broker builds a deal but also how a commercial lender wants to look at a deal and the information they require – including the analysis of the financials, the ratios, and then the actual submission itself.
Tune in to find out more about the Viking commercial offering in the Broker Daily Spotlight podcast here:
Tune in to find out more about the Viking commercial offering in the Broker Daily Spotlight podcast here:
Clive Kirkpatrick
Managing Director of Viking Financial Solutions
Everything under the Viking roof. Whether it's Asset, Commercial or Residential Aggregation, Viking has you covered. Our specialised platform and expert-led teams deliver tailored and scalable solutions that adapt to your unique business needs
