Founded in 2013, Jacaranda Finance is an Australian-owned FinTech focused on developing and fine-tuning their in-house self-developed underwriting platform to create a unique – and extremely fast – scoring system for prospective borrowers.
A worthy alternative to traditional lending institutions, Jacaranda Finance helps Australians get on with their lives quickly when surprise bills and emergency expenses pop up.
The Jacaranda Finance platform is an end-to-end underwriting tool that encompasses machine learning and thousands of data points, making the best use of economies of scale. Unlike traditional lenders, who take too long to get back to consumers and request a mountain of paperwork, Jacaranda takes the positives out of traditional and modern-day lending to approve more loans at a fraction of the time to offer one of the quickest Personal Loan services in the country.
The adoption of technology and the use of data points to make decisions has allowed Jacaranda to approve borrowers that other lenders are missing. Jacaranda has also expanded their loan offering to include a Large Amount Credit Contract (LACC) as a $10,000 secured loan, just one component of a varied, long-term strategy to transform the consumer lending environment in a number of sectors with the use of financial technologies.
Guided by responsible lending practices and a mission to provide Australians with a solution to a short-term cash flow shortfall, Jacaranda Finance is completely transparent about their fees and charges and the results speak for themselves – their customer base is continuing to grow at an above-expected trajectory.