Mortgage Choice joins forces with leading online lender Prospa
In a bid to better cater to the growing commercial needs of its customers, Mortgage Choice has added Australia’s leading online lender, Prospa, to its panel. “We are very excited to announce that we have partnered with Prospa to help us deliver a broader range of commercial lending and cash flow financing solutions to our customers,” said Mortgage Choice’s general manager of product Emma Dupont-Brown (pictured above with Prospa’s Matt Bauld). “Prospa is the leader in online small business lending, utilising their smart proprietary technology platform to quickly assess online applications for unsecured loans up to $250,000. “A significant proportion of our customers are small business owners who have very specific commercial […]
Apple Pay helps banks sell mortgages and deposits, ANZ Bank says
ANZ Bank chief Shayne Elliott insists his move to break ranks with rivals and do a deal with Apple to allow easy payments on the iPhone is helping the lender sell a wide range of financial products, even mortgages. A day after his key rivals suffered a major setback in their brawl with Apple, Mr Elliott on Wednesday stood by ANZ’s move to work with the US technology giant, which is moving into the bank-dominated payments market. Westpac, Commonwealth Bank, National Australia Bank and Bendigo and Adelaide Bank want to launch a collective boycott of Apple Pay, which requires banks to surrender revenue in order to access the iPhone’s chip […]
Hashching creates virtual ID system for first fully-digital loan approvals
Hashching, a website for home buyers to choose mortgage brokers, has built the first fully-digital process for home loan verification in Australia, which would allow banks to comply with strict regulations for identifying clients without having to send them to a branch. This weekend, Hashching, which has processed $2.6 billion of mortgages since launching 15 months ago, will begin the pilot for a biometric identity verification service allowing brokers on its platform to satisfy strict “know your client” (KYC) banking regulations by asking a customer on a video call to hold up a proof of identity to the camera on their computer or mobile phone. Across the banking industry, KYC […]
Fintech platform ‘wasn’t trying to disrupt’ broking industry
The CEO of a fintech platform that sparked controversy in the broker channel has said that the company never intended to disrupt the mortgage broking industry, but instead “bring innovation” to it. Speaking at a fintech event in Sydney earlier this week, Vince Turner, the founder and CEO of the digital mortgage service uno., clarified the platform’s intentions and thoughts regarding the third-party channel. Mr Turner said: “As far as the distribution of mortgages and mortgage broking, it’s an industry that I wasn’t trying to disrupt, but to bring innovation to. “We’ve already brought a wealth of innovation to the industry, and this is how [we] feel like it should […]
iSelect trials three-hour digital home loan
ASX-listed iSelect is trialling a new digital home loan process that lets home buyers get conditional approval for a home loan in three hours from multiple lenders, without needing to visit a bank or fill out paperwork. The technology is the first in Australia that digitises the home loan application process and can present offers from multiple lenders, however many of the banks offer a digital service for their own loans. Macquarie Bank, ING and Australian Finance Group are trialling iSelect’s new service, but the business has plans to do a full rollout in 2017. The new service is part of iSelect’s transition to become a “life admin” business, and […]
LoanDolphin completes $1.1 million seed funding
LoanDolphin, Australia’s leading loan bidding platform, has successfully raised a total of $1.1 million from key investors to expand its presence in major capital cities in a bid to claim a stake in Australia’s $1.5 trillion home loan market. Strategic investor Barry Lambert provided $1 million, with the remainder from fintech investment firm H2 Ventures. Mr Lambert founded Count Financial in 1980 and sold the company to Commonwealth Bank in 2011 for $373 million. The seed funding values the Sydney-based fintech startup at $5 million post capital raising rounds. LoanDolphin is a free online platform for people to refinance or obtain new home loans at rates […]
EY FinTech Australia Census 2016
FinTech Australia and EY Sweeney release the most comprehensive analysis of Australia’s fintech ecosystem to date, the EY FinTech Australia Census 2016 FinTech Australia and EY Sweeney are today releasing the inaugural EY FinTech Australia Census 2016, the most comprehensive and detailed report on the Australian fintech industry to date. The research was formally launched in Melbourne today by EY’s Anita Kimber at FinTech Australia’s national summit, Collab/Collide 2016 in partnership with LaunchVic. This significant piece of research was commissioned by FinTech Australia as part of their efforts to foster a thriving fintech ecosystem in Australia. The report identifies important characteristics of the Australian fintech industry, and establishes a set […]
Fintech platform launches new digital loan push
To digital mortgage service uno, the ideal customer is one who doesn’t want to discuss home loans face-to-face or over the phone. “Traditional brokers are for people who want to go see someone face-to-face or have someone come to their house,” uno founder and chief executive officer Vincent Turner told Australian Broker. “For people who don’t want that, they’re going to find a digital mortgage service like uno as more suitable for their needs.” The firm’s recent marketing push – including an ad in which prospective buyers inspect a house in which some rooms are closed off – highlights the public’s feeling of not receiving all the necessary information on […]
