iscover 
A recent episode of Broker Daily Spotlight provided the answer, featuring a case study from a broker on the frontlines. The discussion featured Renee Blethyn, head of broker partnerships at NextGen, and Nicole Cannon, CEO of Pink Finance, an early adopter of Frollo for Brokers, who has fully integrated the technology into her practice.
The ‘no-brainer’ value proposition for brokers
For brokers feeling the pinch of rising third-party costs and increasing data security concerns, Frollo for Brokers could help plug the gap. As Blethyn outlined, the platform addresses three key broker pain points:
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Safety and security: In an era of high-profile data leaks, consumers are increasingly wary of sharing bank login credentials. Open banking provides a secure, government-regulated alternative using two-factor authentication through the client’s own banking app. This not only protects the client, but also de-risks the broker’s business by ensuring sensitive data is handled safely.
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Cost efficiency: The platform is provided free of charge to accredited brokers. In a landscape of mounting operational expenses, a tool that enhances efficiency at zero cost is a significant advantage.
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Rich and live data: Unlike PDF statements, open banking provides rich transactional data in a spreadsheet format, simplifying living expense verification. The data is live, meaning brokers can access updated account balances instantly for pre-approval top-ups or fast refinances without going back to the client.
A broker’s perspective
Cannon provided the “before and after” of implementing Frollo for Brokers. Previously, her team relied on a mix of bank statements and other services, with a take-up rate of around 40–50 per cent. The manual process of income and expense verification was a major time sink, often taking one to two hours per file.
“We only use Frollo now. We don’t give our clients any other option,” she said.
The impact on her business has been transformative:
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Dramatic time savings: Living expense verification that once took hours now takes just 10–15 minutes.
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Enhanced efficiency: The platform integrates seamlessly into their workflow. Clients receive a link and a user guide, and the data flows directly to the broker.
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A competitive edge: Positioning Pink Finance as a progressive, tech-forward firm that prioritises client data protection has become a key part of its value proposition.
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Live data advantages: Cannon shared a recent example where a client received a bonus. Using the live data from Frollo, her team could instantly verify and document the income change without requesting new payslips or statements.
Building trust and streamlining lender submissions
The benefits extend beyond the broker-client relationship. The industry is moving towards a more integrated future.
“We’re really starting to see that that is delivering real value to brokers when it comes to pre approvals or that fast refi,” said Blethyn.
The ongoing consent model means brokers are no longer information chasers, but can instead focus on value-add conversations.
Furthermore, with major lenders like CBA, Westpac, and NAB integrating open banking data into their ApplyOnline systems, the lodgement process is becoming faster.
Cannon’s team has experienced this firsthand, with less document uploading required as data is verified directly through the platform.
Open banking is no longer a future concept. It’s a practical tool delivering efficiency, security, and enhanced client service.
[Related: Spotlight: How Frollo for Brokers is streamlining lending]
