Omni-Financial is financial services organisation that provides online home loans to consumers in a market currently worth $1.73tn.
Through an Australian Credit License, Omni’s platform enables the decisioning of a loan application, issuing of funds and servicing of loans, and will source wholesale funds to lend from the market. The platform also offers a significant B2B solution for Banks and Credit Unions who may be struggling to meet existing compliance on legacy systems, respond to the Royal Commission and do not have the capacity to develop a regulatory compliant online lending solution.
The business model is designed for future scale and offers an excellent cost to income ratio that will deliver a clear growth multiplier to investors. There is urgency in the banking market for a service of this type:
- For retail B2C customers (of which 18% of are currently first home buyers and digital natives) who seek simplicity, transparency from the lending process (Omni Branded B2C Product)
- For Bank and Credit Union B2B customers who struggle meet recently imposed regulatory compliance requirements, and who’s customers are increasingly expecting a contemporary digital experience (White label B2B offering)
This ‘mobile first’ platform was designed and tested using human centered design methodologies and best leverages the latest enabling technologies and digital data sources to provide a unique customer experience that:
- Improves the quality of lending
- reduces the cost to originate
- removes human unconscious bias from the origination process
The founders and leadership team have a proven track record of delivering new distribution channels and customer experiences to market, by leveraging their:
- Deep expertise in banking
- Development of technology, specifically within finance
- Human Centred Design expertise in creating unique Customer experiences