ASSIST Commission

The ASSIST Commission, developed by Escientia Pty Ltd, is a commission management system specifically designed for mortgage brokers. It caters to lenders, mortgage managers, and aggregators of all sizes. According to the vendor, this solution is utilized by professionals in the mortgage brokering industry, as well as those in the finance industry who require accurate commission management.

Key Features

24/7 on the cloud: According to the vendor, the system allows staff and brokers to access accurate and timely information via a web browser from anywhere, at any time.

Sophisticated data mining: The product provides advanced data mining capabilities, allowing users to search and report on loans based on various criteria such as balance, interest rate, expiry, and type, as claimed by the vendor.

RCTIs on demand: The system automatically generates and emails Recipient Created Tax Invoices (RCTIs) to all relevant parties within the referral/split arrangement, according to the vendor. RCTIs are also available for download at any time.

Easy commission upload: The system supports easy commission file upload with over 60 lender commission file processors already in place, as stated by the vendor. It automatically recognizes the lender's format and transposes it into the system, matching it against the designated broker.

Commission matching: According to the vendor, the system simplifies the management of commission exceptions through a wizard-driven interface. It uses a proprietary method to align commissions with brokers, allowing for easy management of misspelt names, incorrect loan account numbers, or settlement amounts.

Empower brokers: The system enables brokers to set automated triggers to notify them of upcoming loan expiry, loan threshold pay down, or potential default scenarios, according to the vendor.

Intuitive Dashboard: The system provides an instant snapshot of loan book and distribution channel performance through an intuitive dashboard. Metrics such as average loan value, number of new loans, and loan value are included, as claimed by the vendor.

Product definition: According to the vendor, the system allows lenders and mortgage managers to establish product profiles that define upfront percentage, trail percentage, and clawback period. It also offers extended rules for further refinement of business rules.

Broker Compliance and Audit: The system simplifies broker compliance and audit processes by allowing the monitoring of broker accreditation through the upload of supporting documents and monitoring of associated expiry dates, according to the vendor.