One Click Group Limited announced that it has secured access to mortgage aggregator, Specialist Finance Group's, aggregator software. Access to the software facilitates the Company to purpose-build its One Click Mortgages product specifically for seamless integration with SFG's aggregator software, providing a user-friendly digital mortgage brokering experience within the One Click Life platform. Integration into the aggregator's software will allow One Click Life customers access to mortgage solutions from over 50 lenders including the big four banks.
Using APIs available to connect from the One Click Life Platform to the aggregator's software, One Click Life customers will get a seamless digital experience within the One Click Life product. The Company will not pay any material fee for development access to the software, and SFG may revoke this access at its discretion. Following completion of the first development phase of the One Click Mortgages product, the Company will enter into a formal agreement with SFG for integration between the Company and SFG's software for the provision of mortgage products to One Click Life users.
Terms of the integration agreement will be announced to the market in due course. One Click Life currently has over 64,000 registered users on its platform. Its registered user base has grown over 52% since 30 June 2022.
The significant growth in user numbers demonstrates demand for digital financial services in Australia. Presently, the primary product on One Click Life is online tax. The One Click Life platform currently provides three additional products for users, online Wills, Insurance and Loan Pack, which is a preliminary product for establishing demand for a digital finance product within its user base.
The trial of the Company's first step into the mortgage brokering market, via the offering of its `Loan Pack', has been successful with 250 customers purchasing the `Loan Pack' product in the period 1 July 2022 to 31 October 2022. The Loan Pack is designed for customers wanting to procure finance, providing the customer with their ATO tax information that would be required by any financial institution prior to providing finance to a customer. The product is offered at $59 and speeds up the information gathering process for customers requiring finance.
The Company launched the trial with no external marketing costs, making the product available only to its registered user base. The purpose of the trial was to validate that there was sufficient demand for the service, ensuring sound commercial grounds for progressing the build of the One Click Mortgages product within the One Click Life platform. Following the success of this first-phase product trial, the Company has now progressed the build of the One Click Mortgage product.
With securing a mortgage aggregator relationship being a key step in the development process, the Company now expects a beta version of the product to be available for customer testing during December 2022, with a full launch expected next quarter.