ASX-listed Beforepay Group obtains Australian Credit Licence

ASX-listed Beforepay Group Limited have announced that its wholly owned subsidiary, BPG Credit Pty Ltd has obtained an Australian Credit Licence (ACL), enabling it to issue regulated credit products.

As previously announced, the company’s intention is to launch new loan products with higher limits and longer durations than the current Beforepay advance product. This strategy takes advantage of the company’s capabilities in data-driven risk modeling and rapid, efficient, automated digital lending, positioning it to compete effectively in the regulated lending market.

Obtaining an Australian Credit Licence also reinforces the company’s commitment to safe, affordable, and responsible lending. The company’s experience in processing large datasets to assess individual applications will help it tailor credit offers to reflect customer circumstances.

Beforepay Group CEO, Jamie Twiss said, “We’re thrilled to have been granted an ACL. The licence will enable us to implement our strategy of offering a broader range of safe and affordable lending products to Australians, building on our demonstrated strengths in data-driven credit-risk management and our highly efficient operations.”