Australian Finance Group Limited provides mortgage broking services. The Company also offers commercial finance and AFG-branded securitized products. Its customers include individuals, businesses, and institutions. Its headquarters
are located in West Perth, Australia.
The Company uses multiple on-premise Oracle applications to support financials, incentive compensation, planning, business intelligence, and document management. The legacy infrastructure was limiting their ability to drive innovation and meet customer needs, such as processing critical broker commission payments and fees.
AFG’s business model
Finance group Australia Ltd (AFG) is a locally-owned, publicly listed financial firm that generates revenue from mortgage origination of home loans and consumer asset finance. The company also distributes its own branded home loan products and provides its contracted brokers with support services and access to a variety of lenders.
AFG’s business model is to act as an aggregator and offer white-label mortgage management products and its own branded home loan products. The company packages these loans into a securitisation trust and sells them to investors. This way, any defaults are non-recourse to the company.
AFG’s integration of Oracle Financials Cloud Service and Oracle Fusion Incentive Compensation Cloud Service with on-premise Oracle Siebel CRM allows the company to process 600,000 monthly broker payments five times faster than it used to – in just two hours instead of 10. This reduces operational costs and improves client satisfaction. It also gives the CFO and senior managers immediate insight into business performance, enabling them to respond quickly to changes in the market such as revising home loan product margins.
AFG’s customer base
AFG is one of Australia’s leading mortgage professional aggregators and financial solutions providers. The company’s innovative software solutions empower mortgage brokers and auto loan seekers to make better decisions. AFG Flex, for example, is a powerful tool that streamlines the mortgage brokering process. It also offers detailed analytics and business data reporting, allowing brokers to serve their clients more effectively.
In the past, AFG used multiple on-premise Oracle applications for financials, incentive compensation, planning, and CRM. This made it difficult for the company to drive innovation and meet critical business demands, such as delivering new services to its brokers. Moreover, processing critical broker commission payments and fees was inefficient and time-consuming. By migrating to Oracle Cloud ERP, Oracle CX Sales, and Oracle Planning and Budgeting Cloud Service, AFG was able to automate these processes. The platform also doubled the company’s capacity to innovate and deliver new services to brokers. This helped them improve customer satisfaction and support faster business decision-making.
AFG’s products
Founded in 1994, AFG is one of the largest mortgage broker service providers in Australia. It also offers commercial finance, AFG-branded securitized products and insurance. The company has around 2,400 brokers nationwide. It primarily operates as a mortgage aggregator, providing access to various products and support.
Prior to Oracle Cloud, AFG had multiple on-premise applications for financials, incentive compensation, planning, and document management. These systems were inefficient and costly to maintain, limiting the ability to drive innovation and meet business demands. Moreover, the old infrastructure was not able to reliably process critical broker commission payments and fees.
After migrating to Oracle Cloud, AFG benefited from a scalable IT infrastructure that supported rapid business growth. It reduced time-consuming system-administration tasks, allowing IT staff to focus on other projects and business demands. Its centralized document-management solution also improved AFG’s ability to share business-critical information with its nationwide network of brokers. This helped the company improve business insight and decision-making.
AFG’s services
Investment property loan Group Ltd provides mortgage brokering, consumer asset finance, commercial finance, and insurance services. The Company serves customers throughout Australia. Australian Finance Group Ltd was founded in 1994 and is headquartered in Perth, Australia.
AFG’s existing on-premise Oracle applications were limited in back-office automation and made it difficult to support critical financial processes such as broker commission payments and fees, cash management, and reconciliation. Additionally, the company was experiencing 5x business growth and needed to improve reporting capabilities.
Telstra Purple reviewed leading data tools, and provided recommendations based on AFG’s specific needs. This approach helped AFG save operational costs and ensured that the proposed data architecture was scalable and future-ready. The solution also enabled AFG to utilise internal processing capability and opened the door for innovative, strategic decisions. In addition, AFG could now process data faster and meet ad-hoc requests from management. Lastly, the solution improved AFG’s ability to deliver new products to its brokers.