Fintech lender branches into broker channel
Fintech lender MoneyMe is in the process of expanding its broker model to bring in greater loan volumes for its personal lending products. In an interview with Australian Broker, MoneyMe CEO Clayton Howes, said that brokers present a particularly strong channel proposition which he hoped could be leveraged to reach a mass audience. “We look to brokers to provide the sharpest rates in town. How we see it is brokers are able to navigate through the noise of what’s available with the different institutions and provide a feel for a competitive rate. Those are the guys we’d like to partner with to distribute our product.” Expansion into the broker channel […]
Australians embrace FinTech as adoption rates double in just 18 months
Digitally active Australian consumers are embracing FinTech at a rapid pace, with Australia now ranked fifth highest in FinTech adoption among 20 markets surveyed globally, according to the latest EY FinTech Adoption Index. China has the highest level of FinTech adoption globally at 69%, followed by India (52%), the UK (42%) and Brazil (40%), with Australia (37%) rounding out the top five. The study, based on 22,000 online interviews with digitally active consumers across 20 markets, including Australia, shows that FinTech services are poised for mainstream adoption on a global scale with an average of one in every three (33%) digitally active consumers now using FinTech. EY FinTech spokesperson, Rowan […]
Winners of the 2nd Annual Australian FinTech Awards 2017
Congratulations to the winners of the 2nd Annual Australian FinTech Awards 2017. The 2nd Annual Australian FinTech Awards celebrate the achievements of the dynamic people and businesses comprising the FinTech sector. These Awards seek to recognise success in the FinTech sector in its many forms. The event was a fantastic evening of celebrating the best innovation, created by the best innovators and entrepreneurs that live and work in Australia. Here are the winners for the 2nd Annual Australian FinTech Awards 2017: FinTech Innovation in payments ZipMoney FinTech Innovation in Wealth Management (Robo-Advice) Pocketbook FinTech Innovation in Lending Tyro Payments Best FinTech Communications Campaign BRICKX Best Research […]
Blockchain applications rolling out in financial markets
The blockchain gives investors transparency over loan-level data, asset provenance, payment history, loan terms and the quality of underlying security.
Most loans to be sourced digitally ‘within 10 years’, says fintech
A web-based brokerage has predicted that “within five to 10 years” most home loans will be sourced through digital platforms. Re-iterating what he told The Adviser in May, the founder and CEO of online brokerage uno. has predicted that there is “huge potential” for digital broking in the future, despite digital mortgage origination currently representing less than 3 per cent of the mortgage market. Vincent Turner highlighted research undertaken by financial services firm Deloitte in 2016 for the Mortgage and Finance Association of Australia, which found that 27 per cent of broker customers and 34 per cent of direct-to-lender customers would consider making digital mortgage applications, as testament to this […]
Fintech startup MoneyMe hits $100 million loans; sets eyes on niche loans market
Fintech startup, MoneyMe Financial Group, has this week broken through the $100 million loan mark, after record daily compounded growth of 2,747 per cent in its medium amount and personal loans offerings drove its lending volume exponentially in the past few months. This rapid acceleration, combined with record low default and customer complaint rates, now sees MoneyMe set to launch a series of niche loan products over 2017, all designed to provide greater financial inclusion for the growing Australian millennial market. “To have reached this exciting milestone so quickly really is validation that the millennial market is actively looking for financial alternatives to the big banks and their […]
The 2nd Annual FinTech Awards 2017
The 2nd Annual FinTech Awards 2017 celebrate the achievements of the dynamic people and businesses comprising the FinTech sector. These Awards seek to recognise success in the FinTech sector in its many forms. This event will be an evening of celebrating the best innovation, created by the best innovators and entrepreneurs that live and work in Australia. Australian FinTech is proud to be a media partner for the 2nd Annual FinTech Awards 2017 to be held in Sydney on 22nd June 2017. Australian FinTech’s CEO and Co-Founder, Cameron Dart, recently named as one of the Top 25 Influencers of FinTech in Australia, is honoured to be one of the judges […]
The other credit risk to watch in China: Fintech-fuelled debt
China’s government has copped what Scott Morrison is so desperate to avoid: a credit rating downgrade. But in the discussion about Moody’s surprise move last week to cut its rating for our biggest trading partner, there’s one word that has been notably absent, even though it’s a risk of growing importance to investors and officials. That word is “fintech”. Nowhere are the large potentially huge benefits of fintech – and longer-term risks – clearer than in China. This realisation comes as financial regulators everywhere, including in Australia, start to turn their attention to how these risks could eventuate, if fintech one day grabs a larger share of the financial services […]
