Experian has entered into a collaboration with Stryd to offer a new solution using open banking data for mortgage brokers in Australia.
The agreement enables brokers to utilise Experian's Bankstatements.com solution for current financial data, alongside Stryd's repository of bank loan product information, aiming to improve client matching and engagement throughout the life of a home loan.
Open banking context
The new offering leverages developments in Australia's Consumer Data Right (CDR), which gives consumers greater control over the sharing of their banking data. Banks in Australia are also required to share enterprise-level Product Reference Data (PRD), helping to facilitate comparison and competition among loan products.
By combining Experian's data on affordability and customer behaviour with Stryd's product pricing and risk engine, brokers gain a means to more accurately recommend loans and stay engaged with clients beyond initial loan settlement. Access to such data is intended to help brokers re-engage with customers and offer refinancing options when suitable.
"This collaboration will help brokers act in their customers' best interests – from first application as well as automatically monitoring for refinancing triggers in later years," said Simone Jemmett, Managing Director, Open Data Solutions, A/NZ at Experian.
Brokers and customer insight
Current industry data indicates that brokers originate 77% of home loans in Australia but often lose access to customer financial data after a loan is settled. This restricts brokers' ability to proactively support clients or help improve their financial outcomes over the long term.
"At a time when affordability is under pressure, brokers need to do more than originate loans - they need tools to retain and support customers long after settlement. Together, Experian and Stryd hope to give brokers that edge - more transparency, more intelligence, and more value across the full customer journey," said Ruth Hatherley, Chief Executive Officer and Founder of Stryd.
Stryd's Product Repository currently contains information on 2,000 home loan products across 85 bank brands operating in Australia. The company states that its platform, Stryd Broker, launched in 2023, enables brokers to automate reviews of trail books and manage client risk.
Uptake of open banking
According to Stryd, more than a quarter of brokers are currently using open banking data in their work, primarily to help originate loans and retain existing customers. A further 34% reportedly plan to implement open banking technology in the near future.
"The combination of Experian's consumer credit insights with Stryd's loan product data, can offer brokers event-driven alerts and real-time customer insights, and may help them identify when a client may be better served by refinancing," added Hatherley.
Unlike traditional periodic reviews, such as annual mortgage assessments, the joint solution is being developed to deliver event-based alerts. Such triggers might include shifts in cash flow, repayment behaviour, loan-to-value ratios, or updated product competitiveness, allowing brokers to intervene when circumstances change.
"It's about alerting the broker before the customer even knows they need help. We're giving brokers the ability to anticipate needs, offer better-fit products, and keep their clients ahead in a volatile market by knowing the right moment to re-engage with the right offer," said Jemmett.
Market backdrop
The partnership comes at a time when credit risk for Australian households is increasing. Research from illion, an Experian company, shows that the proportion of Australians at risk of credit default increased by 3.8% in the first half of 2025, reversing prior trends of decline.
Looking ahead, Experian has announced plans to further expand broker access to data via the illion Open Banking platform, aiming to continue improving the broker and customer experience in the mortgage sector.