Diñeiro to give brokers CDR data following new partnership

diñeiro, a Melbourne-based fintech with a personal financial management and data sharing app, has selected Envestnet®|Yodlee® to supply live financial data and analytics so that mortgage brokers can see their clients’ full financial position via the consumer app. 

Envestnet | Yodlee is an accredited data recipient able to supply both CDR and non-CDR datasets to the financial services and fintech markets in Australia. 

Founded by Benjamin Shapira, diñeiro was launched in July 2022 after the founder became frustrated with his inability to keep his broker seamlessly across his financial position during a drawn-out search for a property purchase.

He therefore built the app to leverage both the Consumer Data Right (CDR) framework as well as several third-party data providers to allow customers to link their loans, bank accounts, motor vehicles, and residential property into a single platform.

It provides brokers with a connected dashboard that reports on income by source, categorised expenses and shows transactions for linked bank accounts. This enables mortgage brokers to see up-to-date financial information required for responsible lending standards.  

Speaking of the partnership with Envestnet | Yodlee, Mr Shapira said: “In a broker industry first, diñeiro’s technology makes it really easy for a borrower to aggregate their financial position and share this data with their broker in a single click. Brokers can also white label the app, so it’s customised with their logo and branding.

“With over 70 per cent of new home loans originating from mortgage brokers, the role of brokers as trusted advisers continues to gain momentum and with that comes increased expectations from clients about the service they receive from brokers.

“Underpinned by Envestnet | Yodlee’s data aggregation capability, diñeiro’s platform ensures brokers are well placed to enhance their value proposition to borrowers.” 

Carol Kierans, senior customer success manager for Australia and New Zealand at Envestnet | Yodlee, added: “We’re thrilled to be working with diñeiro to help mortgage brokers and their clients save time and hassle by linking financial data into a single source. 

“When borrowers share information manually, brokers only get a snapshot of their clients’ finances, whereas with diñeiro they can have ongoing access to near real-time data plus analytics.”

[Related: Incorrect interest rates in CDR data ‘key regulatory focus’: ACCC]