Briefs: 86 400 signs with Connective, executive changes at Afterpay, Kiwibank settles with regulator 25 September 2020 6:20AM Banking Day staff Mortgages, Non-bank lender, Broker, Appointments, Finance regulation 86 400 continues to win the backing of brokers and aggregators, with Connective the latest to add the neobank’s mortgage products to its panel. Since launching its home loan last November, 86 400 has signed distribution agreements with Vow Financial, Specialist Finance Group, Buyers Choice and AFG. 86 400 chief executive Robert Bell said brokers were looking for the sort of “no-paperwork” offering that the bank has developed because consumers were asking for it. Afterpay chief financial officer Luke Bortoli has handed in his resignation after almost three years in the job. He will leave at the end of the 2020/21 financial year and will assist with a transition program for incoming CFO Rebecca Lowde. Lowde joins from marketing company Salmat, where she was CFO for three years. Afterpay has also appointed a new chief people officer, Meahan Callaghan, and a chief strategy officer, Mark Teperson. New Zealand’s Kiwibank has settled with the Commerce Commission over self-reported failures to meet responsible lending standards, and will pay NZ $5.2 million in remediation payments to over 48, 000 customers. Kiwibank admitted it failed to have in place robust home loan variation disclosure policies, procedures and systems. “While Kiwibank had policies in place for disclosing more complex changes, its system and process failures affected the information it provided to some customers when they made simple changes, such as re-fixing interest rates or changing repayment amounts,” said Commission Chair Anna Rawlings.