LMG's Asset Finance Exchange Hits $80 Million Milestone

Launched in October 2024, the AFX was designed to bridge the gap between mortgage brokers and asset finance experts, facilitating seamless referrals and collaborations. Over the past year, the platform has successfully settled more than 1,800 deals, with an average transaction size of around $45,000. This performance not only exceeds initial expectations but also reflects the increasing demand for asset finance solutions among Australian businesses.

Jordan Mutton, General Manager of Asset Finance Exchange, attributes this success to the platform's unique ability to offer tailored solutions that cater to the diverse needs of brokers and their clients. He emphasises that the AFX serves as more than just a referral tool; it acts as a strategic avenue for mortgage brokers to explore the viability of integrating asset finance into their service offerings. This integration can be achieved either by collaborating with specialist asset finance brokers or by upskilling to manage asset finance transactions independently.

The platform's adaptability is evident in its user engagement metrics. Over 50% of brokers registered with the AFX are active referrers, and approximately 75% have submitted multiple referrals within the year. These figures indicate a strong and growing interest among brokers to diversify their services and meet the evolving demands of their clients.

The success of the AFX is set against the backdrop of a dynamic asset finance market in Australia. Traditionally associated with vehicle and equipment financing, asset finance has expanded to encompass a broader range of financial solutions, enabling businesses to leverage their assets for capital. This evolution is driven by factors such as technological advancements, changing business needs, and a competitive lending environment.

Looking ahead, the AFX aims to build on its initial success by continuing to support brokers in navigating the asset finance landscape. By providing access to a network of specialists and offering tools for professional development, the platform is well-positioned to play a pivotal role in the ongoing growth of Australia's asset finance sector.