Wisr announces limit increases to personal loan product
Borrower demand, institutional backing and continued operational improvements support this change Neo lender Wisr announced it will increase its personal loan limits following increased borrower demand, strong institutional lender support and continued improvement to loan evaluation. As of today the company will increase its personal loan limit from $35,000 up to $50,000(1), with a comparative interest rate up to 5% p.a. lower than the Big Four Banks(2). Loans will be available for any worthwhile purpose over three or five years, with a comparison rate of 9.36% p.a.(2, 3, 4) for borrowers with strong credit rating and with a Wisr personal loan there are no early repayment or exit fees. Anthony […]
Moneysoft calls on financial planners to help clients understand their expenditure following Royal Commission revelations
Financial planners need to broaden their role and help clients understand their household expenses in the wake of the Royal Commission’s damning revelations. Australian households have racked up record levels of debt as interest rates have been cut to historic lows in recent years, but the Commission heard that most lenders still over-rely on the poverty-level HEM benchmark that underestimates true living costs. “The Financial Services Royal Commission has raised many disturbing issues across the banking and advice industry. It will inevitably lead to widespread and much-needed reform,” said Moneysoft CEO Peter Malekas. “However, we shouldn’t wait for the final report in 2019 to reassess as an industry, what we […]
Brighte set to accelerate growth with $18.5m in funding
Sydney-based home energy fintech, Brighte, closes 18 months of strong growth with a Series B equity round of $18.5m. The round was led by Airtree Ventures and also includes Skip Capital, the Milgrom Family and further investment from Grok Ventures. Brighte is a digital credit platform offering affordable point-of-sale payment solutions for home energy improvements such as solar panels and batteries. In its first eighteen months it has over approved over $50m of applications from 6,000+ Australian homeowners. This stellar growth has been the result of a fully digital, innovative product being brought to the home improvements market as demand surges from everyday Australians for solutions to rising energy costs. […]
London’s Fintech Émigrés look to Australia
Since the Brexit vote of 2016, the City of London has been rapidly losing its status as the financial technology capital of the world. Fintech startups have been moving their offices to other European cities; in fact, the mayors of Paris, Frankfurt and Amsterdam have been actively courting these companies, but Australia has benefited in a more direct manner. In the wake of the Brexit referendum, finance industry leaders in London were dismayed when they saw companies packing up and leaving. This situation prompted Mayor Sadiq Khan and city officials to spring into action and come up with ways to retain the financial prestige of London. On March 12, the […]
Melbourne millennial fintech Pelikin lands partnership with global payments provider Tuxedo
Melbourne travel and banking app Pelikin has partnered with global finance technology provider Tuxedo Money Solutions, to deliver the startup’s multi-currency prepaid debit card offering. Specialising in prepaid and alternative finance solutions, Tuxedo will power the payment technology and prepaid card offered by Pelikin. Founded in 2006 in the United Kingdom, Tuxedo has now grown through exciting partnerships, hosting transactions in over 200 territories worldwide and processing just under $2 billion in card loads. Technical Director of Tuxedo Nicholas Holt shared that he is excited to partner with such a cutting edge startup. “We’re very excited to partner with Pelikin and be a part of their journey, as well as […]
Do you know who you’re getting into bed with?
As new lenders pop up, seemingly overnight, Jacaranda Finance are going back to their roots. With the new financial year looming, Jacaranda Finance has been hard at work re-building its brand, even going as far as designing a brand new logo. By going back to the company’s original roots of stripped down family values, Jacaranda Finance is reminding loyal clients why they’re the lender for every Aussie. Founded in 2013 by Daniel Wessels, the company was lifted to new heights as Daniel brought on his father, younger brother and a close family friend. Since then, they have worked to provide tens of thousands of Australians with much-needed finance in […]
Stockbrokers embrace Fintech
Something quite extraordinary happened at this year’s Annual Stockbrokers (SAFAA) Conference in Melbourne May 22-24, which culminated in blockchain based cryptocurrency broker, Caleb and Brown taking first place honours in the inaugural “Stockbroker Fintech Start-up of 2018” award. Six weeks ago Caleb and Brown and the 9 other local and international fintech firms had no plans to be taking part in the conference in any shape or form. Speaking after the prize giving award at the conference founder and CEO of Caleb and Brown, Dr. Prash P said “Our business is on a significant growth trajectory and being able to meet and partner with the stockbroking community in a meaningful […]
Midwinter delivers technology to Suncorp Advice
Australian based financial advice technology firm Midwinter has today announced it will deliver technology services for Suncorp’s salaried financial planning business – Suncorp Advice. Midwinter was selected by Suncorp upon review of its financial planning business, which included testing by Suncorp advisers and paraplanners. AdviceOS will provide Suncorp with – Enhanced system capabilities – including cloud-based and API driven integration Strategic and product modelling capabilities Superior planner/user experience and client engagement Process and production efficiencies CRM and reporting capabilities Compliance functionality Experienced project management of transitions and support Midwinter’s Head of Institutional Growth, Salvador Saiz welcomed the announcement saying “The future of planning tech means being to deliver best-in-class strategy […]
