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Housed within Bridgit’s proprietary broker portal, the tool connects brokers to real-time policy and pricing, allowing them to run numbers and generate quotes on the spot.
The launch is designed to move Bridgit’s broker service towards a more self-serve model while retaining human support from its BDMs for more complex scenarios.
For brokers, the calculator allows each scenario built with a client to then be converted into an application digitally.
It also provides real-time policy checks, meaning brokers can see whether a deal fits policy before submitting it, while reducing the turnaround time between working through a scenario and progressing an application.
Bridgit said the tool gives brokers greater autonomy to run calculations within their own client conversations and progress deals when customer intent is highest.
The self-serve functionality does not replace Bridgit’s broker support, with BDMs remaining available to assist with more complex scenarios.
Bridgit founder and CEO Aaron Bassin said brokers had relied on spreadsheets and manual processes for years, creating a need for more connected technology.
“Brokers have been doing this job on Excel spreadsheets for years and the recent ASIC review showcased to the market what that gets you; manual processes with no single source of truth,” Bassin said.
“We built this calculator because that is not good enough anymore and the industry deserves better.”
Bassin said Bridgit’s ownership of the technology behind its broker portal allowed it to make changes quickly and respond to broker needs.
“The Scenario Calculator means a broker can sit with a client, run the numbers on the spot, and move straight to application, all with the client sitting in front of them,” he said.
“This is just the first of many things to come as Bridgit enters this next phase of growth, as we continue to build a digital platform that unlocks equity for Australians. Brokers asked and we listened.”
The innovation comes as Bridgit’s loan book hit $1 billion, five years after launching into the Australian market. The lender has also seen demand for bridging finance surge in recent months as a result of the housing market pivoting towards buyers.
[Related: Brokerage launches AI tool to automate ID checks]
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