Stryd

One thing we have observed very clearly here at Stryd is that mortgage brokers play an important role in driving better consumer outcomes.

Australian homebuyers place a high value on receiving expert home loan guidance from a mortgage broker.

According to data for the March 2025 quarter, mortgage brokers facilitate 77% of all new residential home loans in Australia.

That figure represents the highest ever market share on record for mortgage brokers and a 2.7% increase from the year before.

The value of new residential home loans settled by mortgage brokers in the same quarter reached $99.4 billion, which is a massive 22.0% increase on the prior corresponding period, and the highest value of new residential lending recorded for a March quarter.

Behind this trend, borrowers are responding to factors such as economic uncertainty, wanting to be “lender-ready,” and needing help to access government schemes.

As Mortgage and Finance Association of Australia (MFAA) CEO Anja Pannek says:

“We know this is driven by a broad range of reasons, such as understanding when and how to refinance, or opportunities to seek a better rate on their existing mortgage.”

The breadth of assistance offered by brokers is both significant and valuable, most especially around borrower education.

How the mortgage broker role is evolving with technology

The use by mortgage brokers of data, SaaS platforms and other technology solutions is a recurring topic in a detailed industry report published in February 2025 by the MFAA titled: “The Value of Mortgage and Finance Broking 2025.”

As I explored in our blog post covering how the mortgage broker role is evolving with technology, software is reshaping the mortgage broking industry, enabling brokers to provide more efficient and personalised services to their clients.

In fact, the word “technology” appears 31 times, with the word “data” appearing 45 times, inside the MFAA’s 56-page report!

Based on the insights in that document, here is my summary of mortgage broker software tools being used today, and future technology trends.

Current state of technology adoption by mortgage brokers

According to the MFAA report, mortgage brokers are leveraging various technologies to enhance their services.

These are the main ones:

Digital identity verification: This technology is streamlining the client identification stage, reducing application processing times and increasing accuracy.

Customer Relationship Management (CRM) software: CRM systems are streamlining the client relationship process by automating and organising customer data into one centralised platform.

Borrowing capacity assessment tools: These technologies are helping brokers quickly and accurately assess a client's borrowing capacity. Many of these tools are enabled by open banking under the Consumer Data Right to help borrowers share information safely and conveniently, rather than emailing bank statements, or sharing online banking login credentials.

Mobile apps: The report indicates 31% of brokers are planning to implement mobile apps for client engagement and fact finding, suggesting a move towards more accessible and user-friendly interfaces for clients.

Specific benefits of technology adoption by mortgage brokers

Implementation of these technologies offers several advantages to brokers and borrowers, such as:

Increased efficiency: Brokers report that new technologies are significantly speeding up the loan application process, particularly in the borrowing capacity assessment and identity verification stages.

Improved accuracy and fewer workarounds: Digital tools reduce the likelihood of human error and make it easier for borrowers to provide all the information for a comprehensive loan application. In turn, this means less time spent by brokers on workarounds or responding to lender requests for more information.

Enhanced customer experience: By automating routine tasks, brokers can spend more time on upfront education and ongoing proactive assessment of the best mortgage terms for their clients. For example, a fintech tool like Stryd Broker can maximise trail book value with automated reviews.

Competitive edge: Brokers who embrace technology are better positioned to remain front-of-mind with borrowers in a competitive market and there is less risk of losing refinancing business to another broker.

The MFAA’s report clearly demonstrates that technology is not just a nice-to-have in the mortgage broking industry - it's a necessity.

Future trends in mortgage broker software use

The report cites some of the future technology trends appearing in the mortgage broking industry.

These ones are particularly interesting:

Digital information sharing: There's a growing opportunity for more digital information sharing between brokers and lenders, allowing for consistency in data access and faster, more accurate loan solutions.

Continued technological evolution: Brokers must remain responsive to changes in technological adoption to stay competitive and meet evolving client needs and expectations for communication and service channels.

Personalised customer service: As technology handles more operational tasks, brokers can provide personalised advice and education to their clients.

Data-driven decision making: With more information available than ever before, brokers will play an increasingly valuable role in helping clients navigate and understand their mortgage options.

Brokers are planning to implement more advanced technologies in the future.

Open banking under the Consumer Data Right is the most popular new technology, with 34% of brokers saying they plan to implement it.

Striding towards the future for better consumer outcomes

With the help of technology, brokers are simplifying a complex marketplace and improving consumer choice.

For example, brokers using Stryd’s specialist software solutions are empowered to streamline trail book retention and offer new home loan products with confidence in just a matter of clicks.

Book a demo of our flagship Stryd Broker platform here or email us your questions at sales@stryd.au.

‍