Chapter 1: Intro & what is Stryd?
0:00Hi and welcome to Broker Tools, where we unpack the tools, systems, and strategies that help brokers optimize the way they work. I'm Katie, your host,
0:088 secondsand today we are catching up with Ruth from Stride. For those of you who don't know what Stride is, it's a trail book
0:1515 secondsand loan health check software made especially for the mortgage broker who wants to keep on top of their loan book.
0:2121 secondsIf you've been looking to improve your revenue operations, then Stride might be the platform for you. Ruth, welcome to the pod.
0:2929 secondsThanks. so much Katie and thank you for the great introduction.
0:3232 secondsAh, you're most welcome. I have been doing a lot more research on revenue operations because I didn't even know that that was actually a job title.
0:4141 seconds[laughter]
0:4242 secondsUm, but it is more so made for the people in more enterprised environments.
0:4747 secondsBut that's I guess essentially what Stride is trying to achieve is keeping on top of those um the loan book which is the revenue operation side of things.
Chapter 2: Why customer retention is a revenue growth strategy, not an admin task
0:5858 secondsYeah. And I think from what what we've observed is that typically or traditionally customer retention activity has been an
1:071 minute, 7 secondsadmin or a you know an admin side of the business where we are doing it from a maintenance perspective or we are you
1:151 minute, 15 secondsknow checking off our um our RCTI each month and making sure that we're being paid. But what we really need to flick
1:231 minute, 23 secondsthe switch on is that proactive retention will actually drive revenue growth. Um, and so trying to move this
1:311 minute, 31 secondsaway from an admin function in the business to being seen as a sales growth and business valuation um, uh, strategy.
1:401 minute, 40 secondsUm, and that you might have admin people perform the day-to-day activities inside Stride, but Stride really is there to be
1:471 minute, 47 secondsable to underpin the foundational value of the business and then drive new revenue opportunities.
1:521 minute, 52 secondsYeah. And I really love that part of Stride and what it is trying to achieve for brokers. But before we go into the details of Stride and its capabilities,
Chapter 3: Ruth's origin story: CBA, broker franchise, and founding Stryd
2:032 minutes, 3 secondsuh how did you actually begin Stride? What was your story prior to?
2:082 minutes, 8 secondsYeah. So um uh as people say for my sins, I've spent uh my entire year, my entire um career really inside um the
2:172 minutes, 17 secondsfinancial services sector. So, uh, I joined, um, a big four bank, the Commonwealth Bank, when I was basically,
2:242 minutes, 24 secondsum, halfway through uni and decided I didn't want to do philosophy and theology anymore. So, uh, I joined the Commonwealth Bank and and spent 11
2:322 minutes, 32 secondsyears, um, inside that organization and worked all in and around, um, retail mortgages. Um, and I was at BDM, uh,
2:422 minutes, 42 secondswhen, uh, the CBA finally dipped their toe in the water in the broken world in third party banking using the Colonial Band. Um and so I got exposure into the
2:512 minutes, 51 secondsbroken world in that part of my um career there. I joined um a uh a broken
2:582 minutes, 58 secondsfranchise um and spent 11 years there doing operations and marketing and in during my entire time um in that space
Chapter 4: The 42-day average from application to settlement — why it still takes so long
3:083 minutes, 8 secondsit still took around 42 days in this country to get an application a home loan application from submission to settlement. And I think we'll touch on
3:153 minutes, 15 secondsthis a bit later, but um it's because there's all these disjointed systems and processes and none of them were
3:223 minutes, 22 secondsinterwoven or interconnected. And because I don't have an engineering degree, I thought that might be quite easy to be able to stitch all of this
3:303 minutes, 30 secondstogether and create a much more seamless technical experience um for the introducers or the the distribution
3:373 minutes, 37 secondschannels for mortgages. Um and that that should make it faster for Australian consumers to get home loans. Um little did I know that's quite a difficult
3:453 minutes, 45 secondsthing to do and and so that was kind of really where I stepped away from um my you know salary paid life um and into
3:533 minutes, 53 secondsthe world of technical innovation and that really was 2018 17 18
3:593 minutes, 59 secondsum and there is a precoid and a postcoid world of our parent company money capture um and the precoid world tried
Chapter 5: The COVID pivot: from digital origination to customer retention
4:074 minutes, 7 secondsto solve um digital loan origination um at a time when the industry thought it was interesting but not essential.
4:164 minutes, 16 secondsAnd during the COVID period, we pivoted and went into where is a problem in the market that is going to emerge out of
4:244 minutes, 24 secondsthis co um you know world that we live in and what technologies are available
4:314 minutes, 31 secondsto solve that problem. And when we really sat back and observed that customer retention and customer
4:384 minutes, 38 secondsattrition were a problem of the banks and it was going to become a bigger problem of the broker world because
4:454 minutes, 45 secondsprecoid brokers wrote you know 45 48% of the mortgages in the market postco they now write 75% of mortgages in the market
4:554 minutes, 55 secondsand with that growth was going to become real pain in customer attention and that's really where stride was born.
Chapter 6: Brokers now write 75% of mortgages — and customer attrition is the new problem
5:025 minutes, 2 secondsWow. Yeah. And I think all great things come from a moment of of realization. Um and and I guess this focus on on the way
5:115 minutes, 11 secondsof old, like you could get away with just living off your uh commissions and trail books and not really doing customer retention type activities or
5:205 minutes, 20 secondschecking if um I was going to say the interest rate had dropped. I'm not sure because it's still I'm not a broker. I
5:275 minutes, 27 secondsdon't always use the right terms, but
5:295 minutes, 29 seconds[laughter]
5:305 minutes, 30 secondslike the interest rates do fluctuate and keeping a on top of that is a really hard thing to do. And I guess that's
5:375 minutes, 37 secondswhat stride is part of the process of solving. Yeah, there's three key data elements that a broker needs to know in
Chapter 7: The three data points that drive loan book intelligence
5:455 minutes, 45 secondsreal time about a customer's loan that helps them understand whether the customer um has opportunity to move or
5:535 minutes, 53 secondsrepric or is still on the best um um option for them. And those three three key data elements are the current
6:016 minutes, 1 secondinterest rate, the current balance and the current LTV. and the way that the
6:086 minutes, 8 secondsbanks and the aggregators interoperate in terms of reporting about customers post settlement
6:166 minutes, 16 secondsum is clunky and what I mean by that is there isn't a free flowing set of data
6:246 minutes, 24 secondsbetween the two sort of areas um that manage the reporting for the brokers and
6:316 minutes, 31 secondsso those three key data elements aren't actually automatically available for for a broker in any of the software systems that they're currently using. And that's
6:406 minutes, 40 secondsreally where the core analysis or insights um come to be able to derive whether
Chapter 8: Why those data points aren't in any existing broker software
6:486 minutes, 48 secondsthat product that the customer is currently on is comparable to what's currently available in the market today.
6:566 minutes, 56 secondsAnd so that's where we start at Stride is we help the broker get access to those three key data elements. Then we
7:047 minutes, 4 secondsrun automatically every day an analysis of those that information against what's available in the market. And then we
Chapter 9: What Stryd does: daily analysis, prioritised leads, and opportunities
7:117 minutes, 11 secondsprioritize the risk inside the book for that broker or the opportunities for the broker to be able to do outreach to those customers that potentially might
7:197 minutes, 19 secondshave um savings or a better option available for them.
7:247 minutes, 24 secondsNice. And I guess that's the key thing is keeping on top of data um and making sure that that information is nice and
7:327 minutes, 32 secondsclean and especially in the age of AI um because anything can be uh I I I use
7:407 minutes, 40 secondssuch an Aussie term as jim but you know like as Zendata can look one way and and not be the other cuz who knows what
7:487 minutes, 48 secondsthey've made payments on and if you're not able to know they've made an extra payment therefore the whole process of
7:547 minutes, 54 secondstheir loan book value has changed. Um that retention part is really hard to keep a top of.
8:028 minutes, 2 secondsThat's right. Yeah. Abs, you're absolutely right.
Chapter 10: Data safety and how Stryd handles CDR consumer data
8:048 minutes, 4 secondsAnd um actually just as I mentioned data safe well I said AI but there's a whole lot of data safety in that process. How
8:138 minutes, 13 secondsdoes stride help brokers during that process?
8:188 minutes, 18 secondsSo one of the things that's been really important to us throughout the entire journey of the company is um data
8:248 minutes, 24 secondssecurity um data governance um and safety of operation. Um we are currently
8:328 minutes, 32 secondsgoing through our sock 2 um assessment period. So we've been working on this journey of um ongoing and improve on um
8:428 minutes, 42 secondscontinuous compliance improvement. Um but we have from the outset we are a um we handle consumer data right data so
8:518 minutes, 51 secondsopen banking data um and in order for you to be able to handle that data um as a representative of someone which is how
8:588 minutes, 58 secondswe operate um you have to comply with certain data standards and the the CDR data standards are as equal to um any
9:079 minutes, 7 secondsother data governance um standard across Australia. So we we're obviously governed by things like the privacy act and and other data governance standards
Chapter 11: CDR governance standards, privacy act compliance, and the trust centre
9:159 minutes, 15 secondsas well, but we um specifically adhere to how we must handle, treat, manage,
9:229 minutes, 22 secondsstore, delete, etc. um CDR data in particular.
9:279 minutes, 27 secondsUm and then that has really bled into having a best practice of data security and data governance across um the entire um data governance policy that we have.
9:389 minutes, 38 secondsUm we have enterprise customers. So we have some aggregators that we interact with either on a direct integration or
9:469 minutes, 46 secondswe are um allowed to have API keys um from those aggregators. And in order for us to have that access we had to pass
9:539 minutes, 53 secondsthe infosc assessments and some of those are really quite rigorous. Um anyone can view our trust center our data trust
10:0110 minutes, 1 secondcenter and our um um security and governance state trust center. It sits on our website. So um there is a public
10:0910 minutes, 9 secondspart of that and then there are ways that you can unlock to get understand more deeply how we do data governance um in the organization. If you are
10:1710 minutes, 17 secondsinteracting with us as a customer then we can share some more explicit details around that. Um so yeah there there are lots of things that we do but um most
10:2510 minutes, 25 secondsimportantly I think for us we understand the very delicate relationship between
10:3110 minutes, 31 secondsaggregator, broker, lender, consumer and across all of that there are multiple
10:3810 minutes, 38 secondslayers of expectation but also very strict policies that we have to adhere to and we make sure that um yeah we are congruent across all of those layers.
Chapter 12: Why data governance is only getting more important with AI
10:4810 minutes, 48 secondsNice. And and I guess um it's one of those things where that whole congruency around those layers and having great
10:5610 minutes, 56 secondsdata governance is becoming more and more important especially with AI. Um we've already seen in the news how some
11:0311 minutes, 3 secondsAI has even gotten inside of banks and so um having what you have um as
11:1111 minutes, 11 secondsrigorous as possible is was always going to be key.
11:1411 minutes, 14 secondsYeah, it is. And I guess with AI being part of that future, how is Stride using AI?
Chapter 13: Stryd's approach to AI: internal policy, hackathons, and deliberate deployment
11:2311 minutes, 23 secondsYeah, look, it's a really good question and and I think um I was I was reflecting on this and how to answer it
11:3011 minutes, 30 secondsbecause you know AI is such a buzzword in in the industry and in the world at the moment. And there is this keen
11:3811 minutes, 38 secondsdesire to be a bit maverick about it and and release it and you know across your data across your your systems. Um I've
11:4711 minutes, 47 secondssp had my team speak with you know brokers who have got it inside their emails and all sorts of things. And we've taken um a bit of a different
11:5611 minutes, 56 secondsapproach to AI. So the first thing I will state is AI is used across our business. um we use it every day for um
12:0412 minutes, 4 secondsuh different operational efficiency and um improvement practices. We also use it
12:1012 minutes, 10 secondsin very explicit ways inside um uh our engineering and product part of the
12:1712 minutes, 17 secondsbusiness. But we have a very specific AI policy um that that decides where we can and cannot use the product. It's not allowed to touch production systems.
Chapter 14: AI is not allowed to touch production systems or data until it's locked down
12:2812 minutes, 28 secondsIt's not allowed to touch data. Um and uh that is really important to us until we understand exactly how we can lock it
12:3612 minutes, 36 secondsdown and make sure it doesn't um penetrate areas that are really sensitive inside our organization. We
12:4512 minutes, 45 secondsran two hackathons um in the last six months inside our business and our um focus was on it has to have a use case
12:5312 minutes, 53 secondsthat is going to drive benefit to our users or drive efficiency gains inside our organization. We're we're a small
Chapter 15: Two hackathons: solving broker problems with AI responsibly
13:0113 minutes, 1 secondteam. We're not you know we're not we don't have 50 100 employees in our business. And so we're not looking to use AI to reduce headcount. That that's
13:0913 minutes, 9 secondsnot what we're looking for. We're looking for product and efficiency gains, but we're also looking about how do we solve the problems or deliver the
13:1713 minutes, 17 secondsfeature capabilities that our brokers are asking for. And so that was the theme of the latest hackathon that we
13:2413 minutes, 24 secondshad was you these are the list of all of the the the feedback um feedback that we've had from brokers and grouping that
13:3213 minutes, 32 secondsfeedback together about how could we use AI to deliver that feature or how could we solve that problem um uh in the in
13:3913 minutes, 39 secondsthe product. So we've kind of come up with three areas where we will focus on AI and our products later in the year.
13:4713 minutes, 47 secondsBut this next development cycle for us is really focusing on how do we infuse AI into our product and engineering
13:5513 minutes, 55 secondsworkflows so that we can do it safely um and that we can uh improve quality uh
14:0214 minutes, 2 secondsand that we can improve velocity uh in our in our product development. until as a business we know how to do that
14:1014 minutes, 10 secondssafely, we're not really prepared to let it loose um inside our product. And and when we do um where we see the three
Chapter 16: The three AI features coming to the Stryd product
14:1814 minutes, 18 secondsopportunities will be in opportunity summarization so that we can um summarize where the opportunities are
14:2614 minutes, 26 secondsfor brokers inside the leads that they have and provide some you know direction as to how they might um deal with that
14:3314 minutes, 33 secondsopportunity and provide value to their consumers or to their customers. um using it for customer communications like we know there's some great AI
14:4214 minutes, 42 secondstooling out there um enabled for customer outreach whether it be by phone call or um any other medium that they
14:4914 minutes, 49 secondswant to be able to communicate with their customers. Um and the third one will be uh in around um portfolio
14:5714 minutes, 57 secondsintelligence. So once we start moving and I'll show you if we do a demo later I'll show you what I mean by that. But the way that we manage brokers
15:0515 minutes, 5 secondsportfolios inside stride is we have a large number of their customers that we're analyzing on a daily basis to see
15:1315 minutes, 13 secondswhere there is opportunities or risks in terms of customers moving out of market um or away from a product that's really
15:2115 minutes, 21 secondsvaluable for them. Um there is some cool tooling that you could use to be able to group that together from a dashboard and analytics perspective. And there is also
Chapter 17: Until hallucinations are solved, AI stays out of the product
15:3015 minutes, 30 secondsa great um some tooling that you can use that will help you identify those opportunities and then um create
15:3715 minutes, 37 secondsbehavior analytics on how you could further enrich that data set before you outreach to the customer around what is
15:4515 minutes, 45 secondsthe best opportunity for them. And so we kind of got that coming in the in the product pathway. But we have a view very
15:5315 minutes, 53 secondsvery um strongly that until you can get rid of the hallucination, until you can actually understand how you can lock it
16:0016 minutesdown and until you understand how to get the efficiencies inside our own working ways of working, we probably won't turn
16:0716 minutes, 7 secondson any of that other stuff um inside the product. uh and and and I'm I'm talking sort of weeks to months, not not years,
16:1516 minutes, 15 secondsbut I think that it's going to take the extra weeks to months to to iron all of those kinks out um internally before we go externally into the product.
16:2316 minutes, 23 secondsYeah. And I really like that approach cuz I mean we are all trying to implement AI in some way or or into a business and how to do it efficiently.
16:3316 minutes, 33 secondsBut if for example I would never recommend open claw to anybody in the finance industry like do not do that
16:4116 minutes, 41 secondsbecause it just has too many vulnerabilities to click anywhere within it and obviously you know stride is is a contained environment and you can not do
16:5016 minutes, 50 secondswhat we call an offtheshelf AI agentic um bots but but in that process it's
16:5916 minutes, 59 secondsjust things like this tool who gone to market and have taken over other people's systems and you really need um
17:0617 minutes, 6 secondsneed to look after that process to make sure those clicks and buttons
17:1317 minutes, 13 secondsdon't do any overrides because um guard rails don't work. Uh there have been articles out there talking about how
17:2217 minutes, 22 secondssome even a a agentic AI have been taught to just get the job done and and that's great like we want a proactive
17:2917 minutes, 29 secondshuman to be getting the job done but you also need to have those protection policies in place so that risk doesn't occur.
Chapter 18: The broker is the superhero — Stryd is the tooling
17:3617 minutes, 36 secondsYeah 100%. um until we know how to stop it. And I I think I think the the really
17:4317 minutes, 43 secondsbig risk is um I've just taught my a my AI agent to do X and then I've let it
17:5217 minutes, 52 secondsrun for three days and then I'm waiting to get the results back. Now what has it done in those three days? You need to
17:5917 minutes, 59 secondsunderstand what is it doing? What is it touching? Where is it going? Who is it accessing? And the biggest focus that we
18:0818 minutes, 8 secondshave or the theme that we say in stride is that the broker is the superhero. So stride is the tooling that provides the insights that makes the broker the
18:1718 minutes, 17 secondssuperhero. If we don't look at it through that lens and if the AI becomes the superhero um that's really shifting
18:2618 minutes, 26 secondsthe point of focus and the and the area of expertise away from the broker. And that's not what we're trying to do.
Chapter 19: Why human knowledge about clients must stay central
18:3118 minutes, 31 secondsWe're trying to enrich the broker with better data, better insights, more accurate analysis around the real time
18:3918 minutes, 39 secondsview of their portfolio, but then we want them to make the decision about what do they want to do with that intelligence because they are actually
18:4718 minutes, 47 secondsthe only one that knows everything about that consumer because the beautiful thing about brokers in the broking industry is that they spend so much time
18:5518 minutes, 55 secondsgetting to know their customers and they've got so many notes and and insights and personal information about those consumers that
19:0419 minutes, 4 secondswe don't really want to replace that with AI assumptions and tooling at this stage.
19:0819 minutes, 8 secondsYeah. And and this is the gift of being human because you will have had a conversation and for whatever reason you've logged it within yourself, but you've not logged it into the system.
19:1919 minutes, 19 secondsAnd this is the real real value of where customer retention sits is building those relationships and going okay this
19:2519 minutes, 25 secondsdata has given me this insight but my external relationship data has also given me other insights and now I can make these appropriate actions forward.
Chapter 20: 360-degree view: Stryd data + broker-specific notes + AI = real intelligence
19:3619 minutes, 36 secondsThat's right and you've hit on a really good point. What we are doing with the tool is creating capabilities for the broker to add all of those insights into
19:4519 minutes, 45 secondsthe tooling and then to your point that's where we see AI being really powerful. So when we've got the insights
19:5219 minutes, 52 secondsthat we gather from all of the different data points that we get about the customer and you add the broker specific nuanced um feedback in in the notes and
20:0220 minutes, 2 secondsand the other ways we get to capture that information. Now you've got a real full, you know, 360 view of the consumer
20:1020 minutes, 10 secondsor the their customer and AI can provide some really powerful insights um at that point. But until we've captured all of
20:1720 minutes, 17 secondsthat, the AI is going to make recommendations based on a subset of data and we don't think that that's valuable for the broker.
20:2320 minutes, 23 secondsNo. and and humanity because assumptions made in data and we and this is where what we call the hallucination occurs
20:3220 minutes, 32 secondsbecause it made an assumption of what that data meant versus what you actually understand it as.
Chapter 21: AI hallucination example: random percentages on an infographic
20:3920 minutes, 39 secondsYeah. Yeah. Exactly. I'll give you a little example which is not related but related. I did a little infographic for LinkedIn um uh just this week around the
20:4820 minutes, 48 secondsimpact of stride. So we've doing got some cool analysis now where we can see the total volume of loans, the total number of consumers um that we have
20:5620 minutes, 56 secondsloans for and the number of broker users. And when I got it to make the infographic, it just put these two 10%
21:0321 minutes, 3 secondslike random spot like I had it had all the data on there and a a cool little infographic and then these random percentages just appeared at the bottom of the infographic. Oh yeah.
21:1321 minutes, 13 secondsAnd why like what's that for? Where does that come from? and this is a you know an AI tool I use every day to be able to
21:2021 minutes, 20 secondsproduce marketing material and um other stuff for our company. And I was like it it even now it's known me for you know
21:2721 minutes, 27 secondsnearly eight months I guess and I use it every day and I give it random guidelines and I give it everything but every now and then you just get these
21:3421 minutes, 34 secondsrandom um bits of data in there and it just you know reinforced to me that we're not quite there yet in terms of it
21:4121 minutes, 41 secondsreally you know all data in intelligent and holistic response back and I think we want to get to that point before we really release it inside the product.
21:5121 minutes, 51 secondsYeah, I would liken it to a junior employee. True. Who needs a lot more training?
21:5821 minutes, 58 seconds[laughter]
22:0022 minutesUm Ruth, did you want to take us through a little tour of uh Stride?
Chapter 22: Platform demo begins: broker preferences and lender panel setup
22:0622 minutes, 6 secondsOkay. So, I do, but I have to preface that I haven't done a sales demo um in our business. I've got two wonderful sales people in our team, Jaden and
22:1322 minutes, 13 secondsDoug, that that do all of the brokers day demos broke dayto day with the brokers. But um it was really fun for me
22:2022 minutes, 20 secondsto actually go through this uh um get brushed up I guess on my demo capabilities over the last um uh 24
22:2822 minutes, 28 secondshours. So I will take you through a demo. My eyes are going to go to this screen over here if that's okay. So my head will be sideways.
22:3522 minutes, 35 secondsUm but I do want to take you through just the quick key highlights I guess of Stride. And um yeah, I'm really proud of where it what how it looks now and and
22:4322 minutes, 43 secondswhat the team have done with it. From our very first beta version in March 2023 when we launched the product. Um so
22:5022 minutes, 50 secondsas a broker user um the first thing that you would do when we set you up on Stride is personalize Stride to be um
22:5822 minutes, 58 secondsvaluable for you. Um so inside your broker preferences, you have three sort of three key things that we would work
23:0623 minutes, 6 secondson with you. First one is that you as a broker or our aggregator customers depending upon how we're doing um the integration or the the licensing model.
23:1623 minutes, 16 secondsYou would select the lenders um of your choice on your lender panel. Um now we have all of the lenders feeding uh
23:2523 minutes, 25 secondsproduct data directly through actually getting that data direct from the lenders. Um and we get that through the CDR product APIs. um we have spent u
Chapter 23: CDR product APIs: direct from lenders, updated daily
23:3523 minutes, 35 secondsmillions of dollars on enriching that data and building uh um thousands of lines of code and thousands of rules that make sure that the data that we
23:4423 minutes, 44 secondspublish for the brokers to use is accurate data. Um and as the CDR regime expands into non-bank lenders as well,
23:5223 minutes, 52 secondsour product repo will be the broadest product repo in the market with all of the bank and non-bank lending products that are available every day. and we're
24:0124 minutes, 1 secondtalking about um hundreds of products and thousands of pricing permutations.
24:0524 minutes, 5 secondsSo, a broker would choose the lender panel that they would have. You'll see that there are multiple different obviously I'm not going to go through all of them um but that would be the
Chapter 24: Email template customisation and sending from the broker's own domain
24:1324 minutes, 13 secondsfirst step that they would do. The second thing that they would do is um they will customize email templates that
24:2024 minutes, 20 secondswe've created on key outreach topics um that we would send from stride for that customer when they are doing a review on
24:2824 minutes, 28 secondsfor their their customers. Each of those templates um you'll see here um I'm not going to go through them all in detail,
24:3624 minutes, 36 secondsbut it's really important that when a broker communicates to their customers from Stride a they get to do it from an
24:4424 minutes, 44 secondsemail address that is um local for that broker. So the broker weak can actually put their email domain um and their
24:5124 minutes, 51 secondsemail address into Stride um and with most aggregators. There's some aggregators that have some rules around that, but most of the brokers can
24:5824 minutes, 58 secondspersonalize the email domain and then they get to also personalize the email templates. And so you might be a broker that says, "Hey dude, how you going?"
25:0625 minutes, 6 secondsUm, probably not. But um, my point is there's that level of colloquial language or there might be um, a different way that you communicate or
25:1425 minutes, 14 secondsyou may communicate to your brokers in a different language. Um, and so it's really important that you have that customization capability.
25:2225 minutes, 22 secondsAnd the third thing which is quite unique um to um stride and this becomes really important later in the demo is we
Chapter 25: The interest rate estimator explained
25:2925 minutes, 29 secondshave a backend uh a background tool and um logic where we are able to if you
25:3725 minutes, 37 secondsupload a customer with an a rate that you got at settlement but you don't know what the current rate is of that
25:4325 minutes, 43 secondscustomer. One way that we can make that more realistic is we can estimate what the current day rate is based on interest rate movements and a calculator that we have in the back end of Stride.
25:5425 minutes, 54 secondsAnd so if you want to enable estimated rates as a function here, um this is where you would do it. And I'll I'll show you what that means a bit later on.
26:0326 minutes, 3 secondsOkay.
Chapter 26: Adding customers: spreadsheet upload, API key, or enterprise integration
26:0426 minutes, 4 secondsUm the next thing that you would do is you would add your customers in stride.
26:0826 minutes, 8 secondsSo this is the demo environment. So we have customers in here already. Um but what a broker this page would be blank
26:1526 minutes, 15 secondsum for a new broker. Now if you are a broker that's coming to us as a direct licensed customer you would um have the
26:2226 minutes, 22 secondschoice to upload a spreadsheet that we would have asked you um to be able to download from your different aggregator.
26:3026 minutes, 30 secondsWe know most of the aggregators in the market which reports you need to download from your CRM in order to give us the data that makes um stride powerful for you. Yeah,
26:4026 minutes, 40 secondsthere are some aggregators in the market that allow their brokers to be able to give us access to their API key and that
26:4826 minutes, 48 secondsAPI key means that we can automatically extract the data that we need and place that into stride for that particular
26:5526 minutes, 55 secondsbroker. Um, and then the third version of that is that you could import from your CRM. And so if we have a enterprise
27:0527 minutes, 5 secondsrelationship with an aggregator which um hopefully by the time this airs the PR announcement would have gone out and we've done our um first major deep
Chapter 27: The AFG integration: Stryd auto-populated via SSO from Suite 360
27:1327 minutes, 13 secondsintegration with AFG um when an AFG broker opens up stride this will all be populated for them because of the work
27:2127 minutes, 21 secondsthat our team have done with AFG and AFGS have you know invested quite a a large um uh resource effort in the
27:3027 minutes, 30 secondsproject team that's worked with worked with us at Stride, then an AFG broker would open up here and all of their data would be available. Um, those that have
27:3827 minutes, 38 secondsan API key, we would be able to use the API key and that would automatically update for different aggregators. And if you don't aren't in either of those
27:4627 minutes, 46 secondsbuckets, we still can service you as an individual broker and we would be able to help you download some of that information that you need for your
27:5327 minutes, 53 secondsreports and we would upload your portfolio into Stripe. The final page really is where the magic happens. And
Chapter 28: The retention leads screen: daily prioritised portfolio monitoring
28:0028 minutesso once your um customers come into Stride, every day Stride will check
28:0728 minutes, 7 secondsthose customers against our product repo of the lenders that you've chosen that are really important to you and we will
28:1428 minutes, 14 secondssee whether your customer um has any estimated savings available to them based on interest rate. So the major key
28:2228 minutes, 22 secondsthat the major data point that we compare every day is interest rate. When you're back in your customer screen, you
28:2928 minutes, 29 secondscan actually um send an email to the customer to request them to share their current home loan information via open
28:3728 minutes, 37 secondsbanking. But if the customer doesn't consent to share their CDR information or their open banking information, this
28:4528 minutes, 45 secondsis where the interest rate estimator tool becomes really important. So,
28:4928 minutes, 49 secondsyou'll see in this list of customers here, George, we've sent um a uh an open banking request to George, but George
28:5828 minutes, 58 secondshasn't um responded as yet. We haven't sent it to Gerard or Jane. And you can see my team are very creative about the names that we use for [laughter] people.
Chapter 29: Customer analysis walk-through: Susanna Phillips example
29:0829 minutes, 8 secondsUm and so you can see here where where those customer statuses are at. But when we go into retention leads, we still have information about Gerard, Sally, Susan,
29:1929 minutes, 19 secondsand George because we've been able to use interest rate estimator um to be able to calculate the a close um
29:2829 minutes, 28 secondsestimate of where that that interest rate would be for that customer. And some of these have got open banking consents as well. And so, um, if we were
29:3729 minutes, 37 secondsto go into Susanna Phillips here, and we'll just open her screen up, you'll
29:4429 minutes, 44 secondssee that, um, Susanna Phillips, um, had an open banking cons, um, consent sent,
29:5029 minutes, 50 secondsbut she hasn't responded as yet, but we were still able to estimate her interest
29:5629 minutes, 56 secondsrate. Um, by doing that, we know that we've got, so we know that she had a Commonwealth Bank loan. We know that her
Chapter 30: How Stryd estimates current balance, rate, LTV, and property valuation (PropTrack)
30:0430 minutes, 4 secondscurrent balance sits as around 14 418,000.
30:0830 minutes, 8 secondsWe know her rate when she settled was about 6.4, but based on the engine and the logic and the algorithm that we use, we think that that might be about 5.9.
30:1630 minutes, 16 secondsWe've been able to pull a updated um valuation of her property because we use Proprack um uh on a daily basis
30:2530 minutes, 25 secondsand we've been able to calculate an updated LTV for her which is 79%. We know that her loan is PNI and an owner
30:3230 minutes, 32 secondsoccupied. And so what stride does so you see her addresses here which is what we've used for the property valuation at this point. What stride does is
Chapter 31: Comparing current product vs live market: like-for-like and alternative products
30:4030 minutes, 40 secondsinitially compares current product with current lender. So our view is that the
30:4830 minutes, 48 secondsthe reason that that c that broker chose that lender and that um product for that customer is often about a lot of
30:5630 minutes, 56 secondsperipheral things as well as interest rate. And so we think that the broker needs to consider um that loan against
31:0331 minutes, 3 secondsthe current lender initially and is that still the most important? Um are those other you know things that we discuss with that customer in best interest duty
31:1231 minutes, 12 secondsstill the most important? Um and if so is rate important as well or is it number one or does it sit at number three, four or five? Again this is only the broker knows the answer.
31:2231 minutes, 22 secondsYou won't know that until you have a conversation. That's right. And so um we've said here,
31:2731 minutes, 27 secondsokay, so this they had an offset loan with CBA owner occupied. We can choose whether we want to compare that with
31:3531 minutes, 35 secondsproducts that are offset or not. We have the ability to turn that on and off up here. But if we were to compare like for like, here are the other variable rate
31:4431 minutes, 44 secondsproducts available in the market today that are PNI owner occupied. And here are the interest rates of those
31:5131 minutes, 51 secondsproducts. Here are the interest rates of fixed just in case you might think and you know in the rate market we're in at the moment this becomes more relevant.
32:0132 minutes, 1 secondAre we in a volatile rate market? Do we think that offering fixed rates at this point in time might be a conversation to have with the customer? We don't know in
32:1032 minutes, 10 secondsstride but we give you all of the data to to be able to decide whether you want to communicate that information. we might go, "Okay, yes, we want to have a
Chapter 32: Moving customers to review and actioning outreach
32:1832 minutes, 18 secondsconversation um with old Susanna here because we think that she might need to think about whether she wants to get a
32:2732 minutes, 27 secondssharper price at CBA or whether she needs to consider moving to another lender." And so then we would move to creating some notes about what we want
32:3532 minutes, 35 secondsto do. What do we want to do with our customer? Do we want to move them to review? If we move them to review, then it means we're going to action them. If not, we're going to do one of these
32:4332 minutes, 43 secondsother things. And then we would actually do some outreach to that customer. And so where we see um AI coming in in the
32:5132 minutes, 51 secondsfuture is you know all of this becomes a little bit more intuitive through the process um but still controlled by the broker. At the moment you got to click
32:5932 minutes, 59 secondssome buttons to do it. Um but what that does is takes you from I have a portfolio of customers as a broker. I
Chapter 33: Portfolio scale: monitoring 50, 100, 200, 1,000 customers daily
33:0833 minutes, 8 secondshave got Stride monitoring that portfolio and it could be 50,100, 200,
33:1433 minutes, 14 seconds1,000 customers, whatever you decide as a broker. In that portfolio, Stride is going to tell me some high priority leads that I need to action every day.
33:2533 minutes, 25 secondsIt will also tell me where people sit in terms of priority for other leads. It will then tell me if I've snoozed some
33:3233 minutes, 32 secondscustomers and why. And then all of my inreview customers are ones that I need to action today. Nice. Makes sense.
33:4033 minutes, 40 secondsAnd does this feed into the CRM if they wanted it to like some of the status? So that's really up to the aggregator.
Chapter 34: Does Stryd feed back into the CRM?
33:4733 minutes, 47 secondsUm so that really comes part of the integration. So some of the API keys um are just one way data feeds. Um some of
33:5633 minutes, 56 secondsthe integrations are where we would be going back and forth with data. Um, but if it does feed back into the CRM, I
34:0434 minutes, 4 secondsthink it's important for brokers to understand that that requires some investment by the aggregator to create some real estate in the CRM to surface
34:1334 minutes, 13 secondsup that information. And so that is a a medium to long-term um piece of work for
34:2034 minutes, 20 secondsthe aggregator to consider that they would want to prioritize over and above or alongside a lot of the other work that's going on from a technical
34:2834 minutes, 28 secondsperspective. So I do respect that there is some um constraint around broker aggregators to be able to do that. So
34:3634 minutes, 36 secondswhat we say to um aggregators and and um aggregators have done this is where they do a single sign on uh into in um
Chapter 35: SSO integration: clicking into Stryd from inside your aggregator CRM
34:4434 minutes, 44 secondsintegration. So a broker can be in in the case of AFG a broker will be in suite 360 um they will then be able to
34:5234 minutes, 52 secondsclick on stride they have a SSO capability and then it opens up the stride platform and so you really are in
35:0035 minutesyour CRM it's just that you've used SSO to get into Stride. Does that make sense?
35:0535 minutes, 5 secondsYes. It's kind of like if you're most people are a Microsoft user, you know,
35:1135 minutes, 11 secondsbut you have your Outlook, which is its own inbox, then you might have uh Clip Champ, which is like a Loom video
35:1835 minutes, 18 secondsrecording. They're completely different type of products and services, but it's all clickable within the same suite. Spot on. That's exactly right. So,
35:2735 minutes, 27 secondsthat's that's a gold standard. That's really where the broker's experience is really seamless. And you know, we would love for the industry to be like that,
35:3535 minutes, 35 secondsbut what we recognize and appreciate is um many aggregators have long technology roadmaps of things that they're trying
35:4335 minutes, 43 secondsto prioritize for their brokers. And so we really um are quite open to the different uh integration options that
35:5135 minutes, 51 secondsthey have and we're also happy to work on that journey with them. So if you just want to start with API key, that's great. If you want to progress that to
35:5835 minutes, 58 secondsSSO, that's good too. If you want to be able to expand that into having that surface onto your CRM and have real estate there, you know, we understand
36:0736 minutes, 7 secondsthat's a longerterm process, but if you'd like to work to that on that journey, we we'd be happy to go on that with you.
36:1336 minutes, 13 secondsNice. And is it possible to also use those same API keys for say HubSpot,
Chapter 36: API compatibility with non-aggregator CRMs like HubSpot
36:1936 minutes, 19 secondswhich is a different type of um obviously it's non aggregator, it's aggregator agnostic.
36:2636 minutes, 26 secondsum there are other services out there because I do have found that there's a bigger lean towards being a bit more
36:3336 minutes, 33 secondsagnostic with their software around managing workflow.
36:3936 minutes, 39 secondsYeah. Um we yeah we as long as it maps to our data model. So we when we um get an API key from an aggregator we the
36:4836 minutes, 48 secondsfirst thing we do is see if the that API key and the data um model that they have
36:5536 minutes, 55 secondsmatches um the stride data model. Can can we actually um not only use the API key but can we effectively get the right
37:0237 minutes, 2 secondsdata that we need? And so that's part of the um investigation that we do or the discovery that we do before we go into
37:0937 minutes, 9 secondsany type of deed agreement or or um head of terms or whatever legal contract that that um aggregator or CRM wants to use.
37:1737 minutes, 17 secondsUm and so yeah, the answer that's a long answer to say yes. If there is an API key available, the next thing we do is
Chapter 37: Data schema discovery before any integration agreement
37:2437 minutes, 24 secondslook at data schema or data model and we say can that data schema and model be um
37:3037 minutes, 30 secondsvaluable or useful for us? and if um not what are the changes that need to be made to that so that we can use it and
37:3837 minutes, 38 secondsso that's really the discovery phase that we have with an aggregator because if they can't assign resources to do any of those changes then there's no point
37:4837 minutes, 48 secondshaving the API key or going down a contracting um sort of pathway um but if they do and we've got a number of aggregators that are really willing to
37:5537 minutes, 55 secondsdo that um and and support not only the first roll out of that but then as they change their API keys, being able to support any updates that are needed. Um,
38:0738 minutes, 7 secondsthen yeah, it's a it's a great way of getting started.
Chapter 38: How to get started with Stryd and book a demo
38:1038 minutes, 10 secondsNice. If people wanted to reach out and learn more about Stride, where should they go and what should they do?
38:1638 minutes, 16 secondsThey can go to our website, which is stride.au. Um, uh, if they and on there there's a book a demo. Um, they can also
38:2438 minutes, 24 secondsemail, um, our beat our, um, account manager, which is, uh, Jadenstride.au AU or dougstride.au.
38:3238 minutes, 32 secondsUm uh and you can find us on LinkedIn and and obviously on our website as well. So all of those places that you you want to go to, however you come to
38:4038 minutes, 40 secondsus, you can even just log a a request on our website as well and that comes to um our sales team as well. So many different ways. We'll also all be at the
Chapter 39: Better Business Summit: meet the Stryd team in person
38:4938 minutes, 49 secondsbetter business summit um conferences over throughout the country over March and April that's run by the advisor magazine and we have a standard
38:5638 minutes, 56 secondstechnology partner um for that. So if uh we are in your capital city and you are going to BBS, you can come and speak to us in person.
39:0439 minutes, 4 secondsNice. Thank you so much for going through that demo with us and having a chat, Ruth. It's been so great to have you. Yeah, very welcome. Thanks so much,
39:1239 minutes, 12 secondsKatie. I've enjoyed it. You're welcome. Bye.
