Are You on a Good Deal?
Score your Loan and Let us track it for you 24/7
Partnering with Sherlock we use Opening Banking and RateTracker software to score your loan against similar loans so you can see if you are getting a good deal. It also allows us to monitor your Loan 24/7 and re-negotiate your rate if needed.
Signing up is a quick and easy process, without all the need for paper work. However you will need you Bank Log in details.
It is all completed with your consent which you can revoke at any time.
Got a question or want to know more before signing up Contact Us
It all Starts here….
About RateTraker and Open Banking
At OCEAN Lending we utilise software through Sherlok that will enable us to Track Clients rates though Open Banking. Below is some information that can help you make an informed choice.
What is RateTracker?
RateTraker is a game-changer for mortgage
brokers in Australia, harnessing the power of
Open Banking. It’s like having a mortgage expert
who never sleeps. By using Open Banking and
advanced technology, RateTraker constantly
monitors home loan interest rates. If it spots that
you’re paying more than the current market
rates, it alerts your broker to act.
What is Open Banking?
Open Banking is a financial framework that
allows clients to share their financial data with
authorized third-party providers through APIs
(Application Programming Interfaces). By
understanding their financial needs and habits,
Brokers can provide clients tailored financial
advice, better loan options, and more
personalized services while ensuring the safety
of clients’ personal data.
How Does RateTracker Work?
Here’s the magic bit. Sherlok’s RateTraker is a
smart tool that keeps tabs on your loan. When
RateTraker identifies that your interest rate is
too high, it notifies your broker. Your broker then
reviews your loan situation. They’ll either
negotiate a better rate with your current lender
or help you switch to a new one with a lower rate.
It’s like having a watchdog for your mortgage.
Is Ratetraker and Open Banking Safe?
Open banking is a regulatory framework
implemented by the Australian government to
ensure that when clients share their financial
data, it remains secure and protected. To
participate, organisations like Sherlok must
comply with rigorous security standards,
including maintaining ISO27001 certification,
which is recognised globally for best practices in
data and cyber security. When your clients give
consent, their bank or lender will securely share
their loan information within this framework, and
they can withdraw consent at any time, giving
them full control over their data.
Less Stress; More Savings?
By consenting Open Banking and allowing your
broker to use RateTraker, you’re giving them
the power to ensure you’re always at the best
possible rate. No more wondering if you could
be getting a better deal or if you’re throwing
money away. Your broker’s got your back, and
RateTraker is their secret weapon.
What’s in it for You?
Picture this: less stress, more savings. By
consenting Open Banking and allowing your
broker to use RateTraker, you’re giving them the
power to ensure you’re always at the best
possible rate. No more wondering if you could be
getting a better deal or if you’re throwing money
away. Your broker’s got your back, and
RateTraker is their secret weapon.
