Launched in October 2024, the AFX platform connects mortgage brokers with asset finance specialists, facilitating seamless transactions and broadening the scope of services brokers can offer. Over the past year, the platform has successfully settled more than 1,800 deals, with an average deal size of approximately $45,000. Notably, over 50% of brokers have actively referred clients through the platform, and about 75% have submitted multiple referrals, indicating strong engagement and trust in the system.
Jordan Mutton, General Manager of Asset Finance Exchange, attributes this success to the platform's ability to serve as both a referral solution and a strategic tool for brokers considering the integration of asset finance into their service offerings. He emphasizes that the AFX acts as an extension of a brokerage's business, providing a viable long-term solution regardless of the brokerage's stage in the asset finance journey.
The broader Australian asset finance market is experiencing significant momentum, with businesses increasingly leveraging asset finance to unlock capital tied up in their balance sheets. This approach allows companies to pledge assets as security, accessing upfront cash to drive growth without straining existing cash flows. The demand for asset finance is particularly pronounced among small and medium-sized enterprises (SMEs) seeking to scale operations and invest in new opportunities.
Industry experts note that the market is resilient and is shifting towards sustainable assets, such as electric vehicles and solar technology. This trend not only reflects a commitment to environmental responsibility but also opens new avenues for asset finance brokers to cater to evolving client needs.
For brokers, the rise of asset finance presents an opportunity to diversify their portfolios and meet the growing demand for flexible funding solutions. By embracing platforms like the AFX, brokers can enhance their service offerings, build stronger client relationships, and contribute to the dynamic growth of Australia's asset finance sector.
