NextGen.Net

What NextGen.Net does

NextGen.Net is an Australian proprietary technology company that provides ApplyOnline, an end-to-end cloud-based lending platform serving the Australian mortgage and broader lending industry. The platform connects lenders (banks, credit unions, building societies, non-bank lenders), mortgage aggregators, and brokers across the full lending lifecycle from application through lodgement, assessment, processing, and settlement, and processes 97% of broker channel applications in Australia. The technology stack is built on modern JavaScript frameworks, containerised with Kubernetes, and uses an API-first architecture to integrate with credit bureaus, valuation services, LMI providers, and aggregator CRMs. Supporting modules include Digital Lodgement (Australia's leading electronic loan application lodgement platform connecting 60+ lenders), Application Centre for backend processing, NextGenID for biometric identity verification, and the Financial Passport for Open Banking data via subsidiary Frollo (acquired 2020, CDR-accredited).

NextGen operates as a B2B enterprise SaaS provider generating revenue primarily through recurring platform licensing to lenders and aggregators, supplemented by Open Banking services revenue. The company sells through a dedicated Strategic Partnerships team and Customer Success organisation, with broker adoption driven via aggregator CRM integrations (Connective, Mortgage Choice, Finsure, AFG) that create a channel distribution multiplier. Pricing is not publicly disclosed and the company uses a consultative, event-driven sales approach anchored by sponsorships of the AFR Banking Summit and Broker Innovation Summit. The customer base spans the Big 4 Australian banks (CBA, ANZ, NAB, Westpac), regional banks, mutual banks, and a growing roster of non-bank lenders (MA Money, RedZed, OwnHome, Skip, Pepper Money). NextGen is 100% Australian-owned and privately held, with 251-500 employees headquartered in North Sydney, and has been operating for over 30 years. AI is embedded in Open Banking data enhancement and fraud detection, but the company does not position itself as an AI-native platform; lender partners bring proprietary AI credit decisioning (e.g., OwnHome's Slate) that consumes NextGen's verified data.

Name

NextGen.Net

Legal name

NextGen.Net Pty Ltd

Website

https://nextgen.net

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

251–500 employees

Short description

NextGen.Net provides ApplyOnline, Australia's leading end-to-end cloud-based lending platform, connecting 60+ lenders, aggregators, and all Australian mortgage brokers across the full application-to-settlement lifecycle. The privately-held, 100% Australian-owned company offers Open Banking, identity verification, and processing modules, including via its Frollo subsidiary.

Ownership category

akta.pro rank

Product category

Loan Origination Software

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Credit Intermediation and Related Activities (522), Activities Related to Credit Intermediation (5223), Computer Systems Design and Related Services (54151)

SIC

Loan Brokers (6163), Services-Prepackaged Software (7372), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Pricing, Risk-Based Offer & Limit Management (FSAGAHAE)

akta.pro secondary industries

Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ), Alternative Data & Credit Scoring (Cashflow, Telco, Utility, Open Banking) (FSAGAHAC)

Keywords

• Loan origination software
• Digital lending platform
• Mortgage technology
• Lender integration
• Open banking

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Platform Licensing: NextGen generates revenue primarily through licensing its ApplyOnline platform to lenders, aggregators, and brokers. The platform is described as serving all Australian mortgage brokers and 60+ lenders, suggesting a multi-party licensing model where lenders and aggregators pay for access to the platform that enables broker-lender connectivity.
2. Open Banking Services: Revenue is derived from Open Banking services including Financial Passport, which provides verified financial data access through CDR-compliant data sharing. These services are offered as integrated components of ApplyOnline for lenders, aggregators, and brokers.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels9 records

Core offering

NextGen.Net develops and operates ApplyOnline, a cloud-based lending platform that automates the end-to-end loan origination process for banks, credit unions, non-bank lenders, aggregators, and mortgage brokers. The company also offers Frollo, an open banking data enrichment platform acquired in 2020, which aggregates consumer financial data to support credit decisioning.

Product overview

NextGen.Net operates as a unified platform-plus-modules architecture anchored by ApplyOnline®, Australia's leading end-to-end lending technology platform. ApplyOnline® connects lenders, aggregators, and brokers across the entire lending lifecycle from application to settlement. The core platform encompasses four integrated modules: Lending Origination for multi-channel application capture, Digital Lodgement for 60+ lender submissions, Assessment and Processing via Application Centre (Approve and Accelerate), and Open Banking/Financial Passport for verified data. Supporting modules include NextGenID® for biometric identity verification, Access Seeker Credit Report for Equifax integration, eSign for electronic signatures, and ApplyOnline Commercial & SMSF Lending for complex loan types. The company also owns Frollo, an acquired Open Banking subsidiary providing CDR-compliant data connectivity.

Differentiator

Problem solved

Functional benefit

Brands

• ApplyOnline®: The leading end-to-end platform for the Australian mortgage and lending industry, powering loan origination, lodgement, processing and settlement.
• Financial Passport
• NextGenID®

Products and services

• ApplyOnline ApplyOnline is a cloud-based, end-to-end loan origination and decisioning platform used by banks, credit unions, non-bank lenders, and aggregators across Australia to digitalise lending workflows, automate credit decisioning, and integrate with mortgage brokers and third-party systems.
• Frollo Frollo is an open banking platform that aggregates consumer financial data from bank accounts and other sources via CDR/Open Banking APIs, providing lenders with enriched financial insights to support credit assessment and verification within the loan origination workflow.

Quantifiable outcome

• 75% reduction in loan processing time (from 60+ minutes to 10-15 minutes per application)
• +8 more outcomes

Named customers24 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability7 records

Feature9 records

Partnerships

16 partnerships are on record, tiered flagship, strategic, core and supporting.

• SkipflagshipTechnology or Integration · 28 May 2026Skip, a high-growth home loan lender, integrated with NextGen's ApplyOnline platform, marking a major investment in the broker channel. Skip transitioned from its proprietary broker lodgement platform to ApplyOnline, streamlining broker workflows and leveraging NextGen's extensive integration across aggregator CRM systems. Skip is expected to announce three further aggregator partnerships in the coming months following strong growth since launching onto its first aggregator panel in 2025.
• OwnHomestrategicTechnology or Integration · 29 April 2026Non-bank lender OwnHome partnered with NextGen to implement ApplyOnline, enabling broker channel expansion. OwnHome offers lending solutions providing up to 100% LVR without lenders mortgage insurance. The partnership leverages ApplyOnline's loan lodgement capability and Financial Passport for verified data integration into OwnHome's AI credit decisioning platform (Slate), delivering decisions in minutes rather than days.
• MyState Bank and Auswide BankflagshipStrategic or Co-development Partner · 11 November 2025MyState Bank and Auswide Bank are merging their back-end operations and adopting a single digital platform powered by NextGen, while maintaining their separate brands. The new system (ApplyOnline) aims to improve efficiency, accelerate loan processing, and enhance service for brokers and customers. This partnership demonstrates NextGen's ability to support major bank mergers with unified platform technology.
• MA MoneyflagshipStrategic or Co-development Partner · 1 July 2025MA Money, one of Australia's fastest-growing non-bank lenders, launched on ApplyOnline to support aggressive growth trajectory. The partnership enabled MA Money to achieve record $500 million settlement month, 100% digital commercial submissions, and unified process across residential, commercial, bridging and SMSF loans. Tim Lemon: 'We wanted to partner with a very well-established brand in the third party space. Brokers love using the ApplyOnline NextGen system.'
• Beyond Bank AustraliacoreTechnology or Integration · 24 March 2025Beyond Bank Australia partnered with NextGen for lending transformation, achieving 14 days faster end-to-end loan processing, NPS improvement from +48 to +58, and 420,000 pieces of paper saved annually. Nick May: 'The delivery of the NextGen system really hit us right from the start.'
• ConnectivecoreTechnology or Integration · 25 February 2025Connective, a major mortgage aggregator, partnered with NextGen to integrate Open Banking technology, enhancing financial data collection for brokers. This partnership enables Connective brokers to access NextGen's Financial Passport and Open Banking capabilities directly through their CRM.
• RedZedcoreTechnology or Integration · 12 November 2024RedZed partnered with NextGen to elevate mortgage lodgement process for self-employed borrowers. Achieved 75% reduction in processing time (from 60+ minutes to 10-15 minutes per application) and 50% digital submission rate. RedZed later expanded the partnership to include commercial and SMSF loan applications.
• BankViccoreTechnology or Integration · 29 October 2024BankVic partnered with NextGen for digital lending transformation, achieving 60% faster home loan decisions and over 200 broker applications processed in year one of new market launch. The partnership enabled automated decisioning capability and seamless operations across all lending channels.
• Suncorp BankflagshipTechnology or Integration · 4 September 2024Suncorp Bank achieved best-in-market lending performance with NextGen's ApplyOnline platform. Results include broker NPS improved from -26 to +54, Direct Customer NPS from -2 to +49, and #1 ranking for time to decision 20 of 45 weeks in FY24. Karen Walsh: 'Suncorp Bank is a better lender given the NextGen partnership.'
• FrollocoreTechnology or Integration · 1 January 2020NextGen completed the acquisition of Frollo in 2020, just before the launch of the CDR regulation in July 2020. Frollo is Australia's leading Open Banking provider and ADR (Accreditation Number: ADRBNK000002). Frollo powers NextGen's Open Banking capabilities, Financial Passport service, and CDR-compliant data connectivity. Frollo assists with collecting CDR data from data holders and managing CDR consents on behalf of NextGen.
• Mortgage ChoicecoreTechnology or IntegrationMortgage Choice aggregators can connect to Open Banking via their CRM integration with NextGen. This enables brokers to access verified financial data through NextGen's Financial Passport within their existing workflow.
• FinsurecoreTechnology or IntegrationFinsure brokers can access Open Banking through NextGen's CRM integration. Anthony Zulglic (Finsure) featured in NextGen's Open Banking Myth Busting video series demonstrating best practices.
• Frollo For Brokers PortalsupportingTechnology or IntegrationFrollo For Brokers is a convenient portal fully integrated with ApplyOnline, making it easy for brokers to request and receive verified customer data through Open Banking. This extends NextGen's Open Banking reach beyond CRM-integrated aggregators.
• EquifaxsupportingTechnology or IntegrationEquifax provides Access Seeker Credit Report integration within ApplyOnline, enabling instant verification of applicant financial data to eliminate errors and accelerate loan processing.
• CoreLogicsupportingTechnology or IntegrationCoreLogic provides valuation services integrated with Beyond Bank Australia's ApplyOnline implementation, enabling automated property valuation requests for more accurate property details and precise loan calculations.
• QBEsupportingTechnology or IntegrationQBE provides Lenders Mortgage Insurance (LMI) integration with ApplyOnline at Beyond Bank Australia, automating premium estimates using mortgage application data prior to submission.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Athena Home Loans: Athena is an Australian digital mortgage lender that operates its own proprietary technology stack. It demonstrates the build-vs-buy tension NextGen faces: a regional competitor that vertically integrated lending technology rather than licensing ApplyOnline.
• Tic:Toc: Tic:Toc is an Australian digital home loan lender using its own AI-driven origination platform. Like Athena, it competes with NextGen indirectly by offering lenders an alternative, proprietary Australian-built lending technology stack.

Broad incumbents

• Temenos: Temenos is a large incumbent core banking and lending platform vendor used by banks worldwide. It offers overlapping loan origination functionality within a broader banking suite, positioning it as a competitive alternative for institutions evaluating end-to-end lending technology.
• Thought Machine: Thought Machine provides cloud-native core banking technology adopted by challenger and incumbent banks. Its Vault core and lending products overlap with NextGen's origination scope at institutions building next-generation digital lending stacks.
• Finastra: Finastra offers a broad suite of lending and core banking solutions to financial institutions. Its mortgage and loan origination capabilities overlap with NextGen's ApplyOnline, though it serves a much wider financial software footprint beyond mortgage lending.

Direct peers

• nCino: nCino provides cloud-based loan origination and banking platforms to lenders globally. It competes most directly with NextGen in the end-to-end origination and automated decisioning space, particularly in mortgage and commercial lending.
• ICE Mortgage Technology (Encompass): ICE Mortgage Technology's Encompass is the dominant loan origination system in the US mortgage market. It is the closest international comparator to NextGen's ApplyOnline on origination, processing, and channel integration capabilities.
• Mortgage Cadence: Mortgage Cadence provides SaaS loan origination systems to mortgage lenders. It competes directly with ApplyOnline in digital mortgage origination, decisioning automation and broker-channel workflows.

Emerging players

• Mambu: Mambu is a cloud banking platform offering composable lending capabilities to neobanks and lenders. It overlaps with NextGen in digital lending infrastructure but with broader scope into deposits and consumer banking.

Others

• Equifax (Australia): Equifax supplies the Access Seeker Credit Report integrated into ApplyOnline. As a critical data vendor and partner, it is adjacent to NextGen's lending decisioning ecosystem rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nextgen-net
• Xx.com/nextgennet

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NextGen.Net