Since mid-2026, we’ve been sharing regular updates with brokers in our “Hai Money and other stories” Facebook group. This post brings the key milestones together in one place, so brokers and clients can see where NBS is heading and why.
Where we started
Our founder, Marty Walmsley, joined Hai Money in 2024 as a broker and commercial mentor. When Hai Money ceased aggregation in 2026, its brokers’ credit representative authorisations ended with it. That left a large group of brokers, many of them experienced and with long-standing clients, needing a new home. We’ve covered that in detail in our article on the Hai Money and Finsure split.
It’s important to be clear: Hai Money has not been found to have engaged in any wrongdoing.
Marty’s review of credit representative records in July 2026 showed that Hai Money had authorised 282 credit representatives between 20 March 2024 and 1 May 2026. At that point, only 31 of those had become active again under other licensees. For most of the rest, there was no clear path back. That gap is what NBS aims to help close.
Step 1: Our own Australian Credit Licence
We decided the most reliable way forward was to hold our own licence, so we’re not dependent on another business’s credit licence.
- 13 July 2026: We applied directly to ASIC for an Australian Credit Licence. ASIC indicates applications usually take 30 to 90 days.
- Late July 2026: Our application was assigned to an ASIC case officer.
- 14 October 2026: Our licence was granted in draft. NBS Home Loans Pty Ltd holds ACL 580020.
Alongside the application, we spoke with industry bodies, including the MFAA and FBAA, and with aggregators about how an ACL-holding brokerage could work with them. We also brought an experienced compliance professional on board to lead our compliance function.
Step 2: AFCA
Every credit licensee must be a member of the Australian Financial Complaints Authority (AFCA), the free, independent external dispute resolution scheme for consumers. Our remaining step is to update our AFCA membership from credit representative to financial firm. Once that’s done, the draft licence can move to a full licence. We’re nearly there.
Step 3: Consent forms and reference checks
Before we can appoint any broker as a credit representative under our licence, we need to do proper background and reference checks. Under ASIC’s reference checking and information-sharing requirements, that includes references from a broker’s previous licensees, and the broker must give consent first.
So we’ve prepared:
- consent forms authorising us to request references from Hai Money and/or Finsure, and
- onboarding forms for brokers who’d like to join NBS.
Former Hai Money brokers, and others interested, can request the forms by emailing onboarding@nbsgroup.au. We want every broker we appoint to be properly checked. That protects clients, lenders, the brokers themselves, and the reputation of the industry.
Step 4: Building our lender panel
A broker is only as useful as the choice they can offer. Under the Best Interests Duty, brokers need access to a genuine range of lenders. We’re working toward that on two fronts:
- direct accreditation with a broad range of lenders, including second-tier, specialist and non-conforming lenders and lenders that support government home buyer schemes, and
- an aggregator relationship to give our brokers access to a wider panel, with the aim of reaching 30 or more lenders overall.
By mid-October 2026 we had identified around 45 potential direct accreditation pathways, and we’re continuing those conversations. Accreditation decisions are always a matter for each lender. We’ll share progress as it becomes firm.
Step 5: Systems and the business plan
We’re also finalising our business plan and choosing the broker software and compliance systems that will support our team. Our working estimate has been about three months from licence to brokers writing loans. That’s a target, not a promise, and we’ll keep everyone updated.
Why we’re doing this
We believe good brokers deserve a fair path back to serving their clients, with proper checks and strong compliance. That’s the standard NBS is being built on.
If you’re a broker who would like to register interest, email onboarding@nbsgroup.au.
This article reflects NBS’s position as at 31 October 2026 and is general information only. Timeframes and lender arrangements are targets and may change.
This is general information only and does not take into account your objectives, financial situation or needs. Speak to a broker before acting.