Let’s talk about the elephant in the room – is AI going to take over finance brokering in Australia? And more importantly, where should you be focusing your energy: consumer clients or commercial clients?
At Lyft Money, we’re always looking ahead – not just for ourselves, but for our clients too. So here’s our take on where the industry is heading and how brokers can stay ahead of the curve.
Will AI Take Over Brokering?
Short answer: Not entirely.
AI is changing the game — no doubt about it. It’s automating boring stuff like:
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Data entry
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Document collection
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Matching clients with basic products
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Even initial credit scoring
But here’s the thing: brokers aren’t just data monkeys. The value lies in advice, experience, and problem-solving. When a tradie wants a new truck or a café owner needs working capital, they don’t want to be passed off to a chatbot – they want someone who gets it.
So, while AI will replace admin, it won’t replace the relationship. Brokers who embrace tech as a tool, not a threat, will thrive.
The Rise of DIY Lending Platforms
Yes, more people are jumping onto “compare and apply” websites, especially for personal loans and car finance. It’s quick, easy, and suits a certain kind of borrower.
But for more complex scenarios – like a business wanting to finance a fleet of vehicles, buy equipment, or boost cash flow – that online model falls short. That’s where a trusted broker shines.
Consumer vs. Commercial - Where’s the Smart Money?
Let’s break it down:
Consumer Loans | Commercial Finance | |
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Volume | High | Lower |
Broker Fee Margin | Low | High |
Loyalty | Low | High |
Automation Risk | High | Low |
Complexity | Low | High |
Value Add | Minimal | Significant |
Long-Term Growth | Uncertain | Strong |
Our Take?
Commercial clients are where the gold is.
Yes, personal loans are fast and easy. But commercial deals are stickier, more valuable, and far less likely to be replaced by a robot. Businesses come back for more – again and again. Whether it’s upgrading a ute, financing stock, or expanding their operations, they need a partner, not just a platform.
What Should Brokers Be Doing Right Now?
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1 . Use AI to work smarter, not harder.
Automate the admin. Speed up applications. Let the tech handle the background noise so you can focus on the client.
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2 . Build a hybrid model.
Bring in consumer leads for quick wins, but invest your energy into growing your commercial book. That’s where long-term wealth and relationships live.
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3 . Double down on trust.
In an AI-driven world, being reliable, responsive, and real makes you stand out even more.
Final Word
AI isn’t the enemy – complacency is. The brokers who win in the next 5–10 years will be the ones who:
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Leverage technology
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Build real relationships
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And focus on high-value commercial clients
At Lyft Money, we’re not just watching the future unfold – we’re building it. One business at a time.