Specialist lender encourages brokers to think fintech
Fintechs are disrupting the way people bank, from moving money around accounts to applying for mortgages. While some are concerned about keeping pace with these technologies, or what it may mean for regulation, others are welcoming the changes. One such pioneer is Liberty which says the emergence of fintechs has enabled growth, praising their appetite to take risks and try new things. Liberty group sales manager, John Mohnacheff, encourages others to embrace new ideas, as it enables businesses to grow and develop. “At the core of our business is innovation and it’s a delight to be joined by entrepreneurs who are also experimenting with different ways of doing things,” he […]
Non-majors drop interest rates
Online lender Tic:Toc and Teachers Mutual Bank have both announced changes to some of their home loan offerings. Tic:Toc has dropped its variable rate to 3.57 per cent (3.58 per cent comparison) for new customers (as of 28 September) and is offering its existing customers the same rate on a two-year fixed rate basis (down from 3.64 per cent previously). Speaking of the change, Tic:Toc’s founder and CEO, Anthony Baum, commented that part of the decision to drop rates had been brought about by the findings of the financial services royal commission. Mr Baum said: “It’s common practice among the major banks to lower interest rates for new customers while simultaneously hiking […]
SME lender expands equipment finance
An online lender has expanded its offering of equipment finance, saying it is providing a solution for the “underserved” market of small business owners. OnDeck Capital Australia said it had received feedback from small businesses and brokers about the length of the loans. The lender found that a lot of equipment had useful lives longer than the length of repayments. Small businesses can also find it difficult to get funding from mainstream lenders. Cameron Poolman, Chief Executive Officer of OnDeck Australia, said brokers often speak to OnDeck about the challenges they encounter obtaining traditional finance solutions for nonprimary assets. He said, “These include assets such as catering equipment, gym equipment, […]
Bank Of Queensland backs solar panel lender Brighte
Brighte, a buy-now-pay-later platform for home energy backed by Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar, has secured a $15 million debt facility with Bank Of Queensland that takes its total facilities to $45 million. Of the 11,000 payment plans worth $90 million approved by Brighte since it started lending in October 2016, 94 per cent have been for renewable home energy equipment such as solar panels and batteries. The facility with BOQ’s finance division adds to a facility with National Australia Bank, which has just been extended from $20 million to $30 million. It would allow Brighte to expand its interest-free lending into associated areas such as air conditioning […]
UBank announces partnership with MSA National to provide DigiDocs
UBank, Australia’s leading digital bank, has today announced a partnership with MSA National to provide its customers with a more efficient and convenient way of signing home loan documents. Known as DigiDocs, the service provides eligible customers a way to quickly and securely review and sign loan documents on their computer or mobile device quickly anywhere, at any time. Powered by MSA National and using the DocuSign platform, DigiDocs uses encryption and two-factor authentication to provide customers safe and secure processing. Anna Vincent, UBank’s Head of Customer Home Loans, said, “Getting a home loan is one of the most important decisions a person will make in their lives, and at […]
Wisr shortlisted for two Optus My Business Awards
Australian neo-lender Wisr (ASX: WZR) is in the running to take out one of county’s longest-standing business awards after being shortlisted for the prestigious Optus My Business Awards. Wisr has been shortlisted as a finalist in two awards in the Fintech Of The Year and Business Leader of the Year categories at the 2018 Optus My Business Awards, the premier event of the year for SMEs. Founded in 2014, Wisr offers personal loans and financial wellness solutions using its unique neo-lending platform. The company recently announced it had increased annual revenue by 37% last financial year, on the back of a 409% increase in loan origination volume. The Optus My […]
Fintech dwarfs Big Four at finder Awards, winning Best Home Loans & Tech Innovation
Tic:Toc, the fintech lender offering the world’s only instant home loan, was awarded Best Owner Occupier Home Loan – Variable; Best Investor Home Loan P&I Variable; and Best Tech Innovation, at the finder Awards held in Sydney last night; identifying the best value finance products across 20 categories. Tic:Toc founder and CEO, Anthony Baum, said the awards recognised the immense value Tic:Toc brings Australians. “It was so exciting for us to receive yet another source of validation for us that we’re filling a real need in the home loan market. It’s an industry that has been ripe for disruption, and we’re proud to have made such a big impact on […]
When ‘it’ happens, SocietyOne urges us not to reach for the credit card
Australia’s pioneering and leading marketplace lender, SocietyOne, has launched an integrated marketing campaign to capitalize on the fast-approaching holiday season, where demand for consumer credit typically jumps with increased expenditure on festivities and gifts. The campaign, entitled “When ‘it’ happens”, highlights how even positive situations can put financial strain on even the most savvy Australians. It tells the story of ‘regular guy’, Dave, who is financially in control until a series of unexpected events blows his budget out of the water. SocietyOne saves the day by rewarding Dave’s good credit rating with a low-rate personal loan, saving him from resorting to a credit card – which can often become a […]
