Publication Date: Friday, 31 January 2020
This article originally appeared in Mortgage Professional Australia
Fresh off securing a $250 million funding facility, Brighten continue to make waves in the finance world as they achieve impressive targets in their relative infancy that would often be the envy of a number of their competitors.
MPA had the opportunity to sit down with Brighten’s Scott Kelly to discuss the company’s rise to prominence since their inception in 2017.
“Brighten is an Australian owned, Australian based and Australian regulated non-bank lender whose loans are fully funded by multiple sources of institutional capital,” Kelly said.
“Brighten has an initial product offering including home loans to non-residents of Australia and Australian residents with income from abroad.
“We have recently secured another $250 million tranche of funding though a warehouse facility with Goldman Sachs, and we are now expanding into the Prime, Near Prime and Alt Doc lending segments for our next stage of rapid growth.”
Kelly alluded to the reasons behind such rapid growth since Brighten’s founding in 2017, and outlined their plans to ensure their results are maintained.
“We are on track to hit our target of a $2 billion loan book in two years,” he said.
“Given the existing infrastructure and distribution networks in place, along with the introduction of new lending products tailored to specific client demand, we expected continued strong growth in 2020.”
To capitalise on those areas of growth, Kelly said he sees significant opportunities in the non-bank space, particularly as majors and other ADI’s have pulled back from certain lending activities.
“In 2020, we expect to launch our Prime, Near Prime and Alt Doc lending products in support of achieving our $2 billion loan book target in the medium term,” he said.
Kelly noted that Brighten’s involvement with brokers is an extensive one, and he spoke in-depth about how that relationship continues to only get stronger.
“At Brighten we value long term partnership and we strive to become a reliable and credible partner to our brokers,” he said.
“We believe we can not only deliver great lending products for their clients but also help them grow other parts of their business – this is a significant point of difference for us.
“Brighten currently has a network of 400 brokers and we expect to make an announcement regarding aggregator partnerships in coming weeks which will further expand our distribution networks, and we will continue to actively recruit and invest into the growth of our broker and aggregator networks.”
That confidence in garnering important business and clientele relationships stems from Brighten’s point of difference, which Kelly believes is their ability to compete through a combination of a streamlined product offering, simple and competitive pricing structure, along with a superior service proposition assisted through their enhanced technology platform.
“Additionally, most brokers are looking to expanding into other areas such as investment and wealth management – that’s something we can definitely help them with which re-enforces our partnership over the longer term,” he said.
Their ability to work with clients with such high customer service level and fast processing speed is incredible.
I have been working with my BDM, Mikai Ning, for two years. Since meeting her, she has continued to impress me with her professionalism, her efficiency, and her patience to listen and explaining all information. Even during pregnancy period, she even said to me personally that if there is anything I require, that Mikai is still contactable and will get back to me as soon as she can. Her attitude is always super nice and is highly passionate about what she does. I have been in this field for so many years and she is the best BDM I have worked with.
Great review for Mikai Ning. Not only is she highly passionate, but she is also very hard working and highly detail oriented in her work. No matter what time of the day, or day of week, she will always get back to us. We highly appreciate Mikai and Brighten for their hard work and ongoing support.
Brighten’s BDM, Liwen, has left a very impressive impression. Whether it is policy or product, she can solve and fix any problem, big or small, she is always reaching out and supporting us. From the beginning, It has been great to work with Brighten’s vastly experience team and great products. I always recommend Brighten to all my clients.
Mikai is a very passionate and proactive person. Our work with Mikai has is nothing but positive outcomes and we look forward to continuing working Brighten and Mikai.
My BDM Leo Liu has been a great help in assisting me setting up the referral program and educating in terms of products and knowledge. I look forward to the greater relationship with Brighten Home Loan and Leo Liu.
Mikai is our BDM and she is a very detail oriented with great work ethic and speed. If there is a policy update, she will always try and get in touch with us as soon as possible to ensure that we received and understand the relevant changes so that we can better accommodate our clients. Thank you for your ongoing support to us brokers.
It has been very convenient with the interest rates being lower also. Brighten home loan was able to solve so many problems for overseas clients. Big thanks to BDM Mikai for all her support.
I need to thank my BDM Liwen Liu. She has been very responsible since the beginning. She is always patient with my home loan scenario enquires. She always tries to do best for the clients. Liwen is very professional, always gives good advice to brokers. She is an excellent BDM. Thank you.