REA Group Financial Passport

REA uses Frollo’s Open Banking powered Financial Passport to make home buying more accessible.

At REA, we want to change the way the world experiences property. Empowering Australians to easily understand how they can finance their dream home is one way we can do this. Finances are an important part of the journey, and Open Banking provides an incredible opportunity to make this process better for consumers and lenders.

Leveraging Frollo’s technology and experience as a leader in Open Banking allows us to continue on our mission to change the way people experience property. Launching the first Open Banking use case in home buying on the REA platform will bring the benefits of Open Banking to many more property buyers.

Eloise Wall (General Manager Financial Experiences at REA Group)
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Frollo and REA - Financial Passport

Challenge

Insight into the consumers’ financial situation is a critical aspect of the home buying process. For lenders when approving a loan, but just as importantly for the consumer when deciding their borrowing power.

As Australia’s largest property platform, REA has an opportunity to make this process even easier by providing customers with financial insights early on in their home buying journey.

Solution

Millions of home buyers use realestate.com.au to find their next dream home. Now, they have the opportunity to generate a Financial Passport that shows them exactly what their finances look like. Using Frollo’s secure and user-friendly Open Banking service, it will take them only a few clicks to connect their financial accounts and download the report.

The Financial Passport will give them an in-depth view of their income, expenses, assets and liabilities, and help them understand what’s achievable much earlier in their home buying journey

Features

Frollo and REA - Open Banking powered Financial Passport

The Frollo Financial Passport

The Frollo Financial Passport uses Open Banking to provide a real-time, complete and accurate picture of your customers’ finances.

Customers safely and securely link their financial accounts in a few steps to instantly generate an Income & Expense report that’s mapped to your lending criteria.

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