Mortgage Express confirms Aussie joint venture
It comes months after TMM revealed talks over a joint-venture agreement between the two groups. The companies have declined repeated requests for comment on the JV, but confirmed the agreement in a statement today.
The newly-announced joint venture will see Mortgage Express adopt Astute's integrated model and technology. The companies said the JV would "enhance" the Mortgage Express product offering.
Astute has significant influence in the Australian market, with more than 500 members. The group offers mortgage finance, insurance and wealth management services to Australian clients.
Astute's technology platform is said to be a key driver behind the JV deal. Key figures within the groups also believe a cross-Tasman partnership will help them cope with regulatory changes.
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