About
Frollo harnesses the power of Open Banking to deliver better financial experiences across three distinct audiences. For consumers, the free Frollo app consolidates all finances in one place, providing smart budgeting tools, spending insights, and actionable categorisation to help individuals achieve their financial goals. For mortgage brokers, Frollo for Brokers is a free secure online portal that allows brokers to request and receive verified bank statements and financial data directly from clients — with AI-powered insights, automated categorisation, and seamless ApplyOnline integration that reduces manual effort and accelerates loan processing. For enterprise clients, Frollo's Open Banking platform offers a full data enrichment and transformation layer, enabling banks, lenders, fintechs, and advisory firms to build richer customer experiences and make smarter lending and advice decisions backed by real-time, verified financial data. Frollo's technology is accredited under Australia's Consumer Data Right (CDR) framework, ensuring data is collected and shared securely and in compliance with regulatory requirements. With clients such as Finsure, AMP Advice, P&N Bank, and Virgin Money Australia, Frollo is trusted at scale across the financial services ecosystem. Whether you're a consumer looking to budget better, a broker chasing efficiency, or a business seeking a competitive data advantage, Frollo provides the tools, infrastructure, and expertise to make finance work smarter.
Key Features
- Open Banking Data Collection: Securely collect real-time, verified bank statements and financial data from consumers via Australia's CDR-accredited infrastructure.
- AI-Powered Insights & Categorisation: Automated transaction categorisation and financial insights reduce manual processing for brokers and advisers, saving time for both staff and clients.
- Free Consumer Money Management App: The Frollo app aggregates all accounts in one place, offering budgeting tools, spending breakdowns, and personalised financial insights for everyday Australians.
- Broker Portal with ApplyOnline Integration: Frollo for Brokers is a free portal that enables mortgage brokers to securely request and receive verified client financial data, with direct integration into the ApplyOnline lending workflow.
- Enterprise Data Transformation Platform: An enterprise-grade Open Banking platform that enriches and transforms financial data to power smarter decisions across lending, advice, and digital banking products.
Use Cases
- Consumers tracking spending, setting budgets, and managing all their bank accounts in a single free mobile app to improve financial wellbeing.
- Mortgage brokers collecting verified bank statements and financial data from clients digitally, replacing manual PDF requests and accelerating loan applications.
- Financial advisers using real-time client financial data to streamline the advice process, reduce paperwork, and provide more personalised recommendations.
- Banks and fintechs integrating Frollo's enterprise Open Banking platform to enrich customer data and build innovative, data-driven financial products.
- Lenders leveraging verified, real-time income and expense data from Frollo to make faster, more accurate credit assessments and lending decisions.
Pros
- Free Tiers for Consumers and Brokers: Both the consumer app and the broker portal are available at no cost, providing immediate value without upfront investment.
- Real-Time Verified Financial Data: Data is sourced directly from financial institutions via CDR-accredited Open Banking, ensuring accuracy and regulatory compliance.
- Trusted by Major Financial Institutions: Frollo is already deployed at scale with partners including AMP Advice, Virgin Money Australia, Finsure, and P&N Bank, demonstrating enterprise reliability.
- End-to-End Coverage Across Use Cases: One provider serves consumers, brokers, and enterprise clients, simplifying vendor relationships and ensuring consistency in data quality.
Cons
- Australia-Only Focus: Frollo is built specifically for the Australian Open Banking (CDR) ecosystem, making it unavailable or irrelevant for organisations operating outside Australia.
- Enterprise Pricing Lacks Transparency: Pricing for the Frollo for Business platform is not publicly listed, requiring direct contact for commercial enquiries.
- Dependent on CDR Ecosystem Maturity: The breadth of available data depends on the ongoing rollout of Australia's Consumer Data Right, which is still expanding across sectors.
Frequently Asked Questions
What is Open Banking and how does Frollo use it?
Open Banking, governed in Australia by the Consumer Data Right (CDR) framework, allows consumers to securely share their financial data with accredited third parties. Frollo is an accredited data recipient that uses this infrastructure to collect, enrich, and transform financial data for consumers, mortgage brokers, and businesses.
Is the Frollo app free to use?
Yes, the Frollo consumer money management app is free to download and use. It provides account aggregation, budgeting tools, and smart financial insights at no cost.
How does Frollo for Brokers work?
Frollo for Brokers is a free online portal where mortgage brokers can send a secure data request to their clients. Clients then consent to share their bank statements and financial data, which is delivered to the broker as real-time verified information — eliminating the need for manual PDF uploads.
Which businesses and institutions use Frollo?
Frollo works with a range of financial services organisations including AMP Advice, Virgin Money Australia, Finsure, P&N Bank, and NextGen. Its platform is used across lending, advisory, and digital banking use cases.
Is my financial data secure with Frollo?
Yes. Frollo is accredited under Australia's Consumer Data Right regime and publishes a dedicated security policy, CDR policy, and privacy policy. Data is shared only with explicit consumer consent and is handled under strict regulatory and security standards.
