Fintech platform launches new digital loan push
To digital mortgage service uno, the ideal customer is one who doesn’t want to discuss home loans face-to-face or over the phone. “Traditional brokers are for people who want to go see someone face-to-face or have someone come to their house,” uno founder and chief executive officer Vincent Turner told Australian Broker. “For people who don’t want that, they’re going to find a digital mortgage service like uno as more suitable for their needs.” The firm’s recent marketing push – including an ad in which prospective buyers inspect a house in which some rooms are closed off – highlights the public’s feeling of not receiving all the necessary information on […]
Morgan Stanley’s Jeffrey McMillan says collaboration is key in fintech
It makes more sense for a global banking giant such as Morgan Stanley to collaborate with innovative fintech start-ups than to try to be innovative itself, according to the bank’s chief analytics and data officer, Jeffrey McMillan. “Probably 75 per cent of our technology that we build is coming from the fintech sector,” Mr McMillan told The Economist’s Finance Disrupted conference in New York. “We don’t really want to be innovators — that’s not what we’re really good at. “We have $US2 trillion ($2.8 trillion) of assets, 2.2 million customers, 16,000 advisers and that’s our intellectual capital. But we’re not known for being nimble and quick. ”But the bank wants […]
Prospa and The Entourage combine to inspire small business owners
Prospa, Australia’s largest online lender to small business, has launched an innovative partnership with educator The Entourage that enables business owners and budding entrepreneurs to fund education through their business cashflow. The partnership will enable business owners to access The Entourage’s Launch, Build and Scale education programs and advice from leading entrepreneurs using an interest free loan from Prospa, instead of a large upfront payment, credit card or expensive personal loan. Beau Bertoli Joint CEO of Prospa said “It’s amazing that two of Australia’s entrepreneurial success stories are partnering to offer Australian small business owners and fledgling entrepreneurs access to finance and education. “Prospa and The Entourage have the same […]
Move over term deposits, peer-to-peer lending is on the rise for Aussie investors
Individual Aussie investors have lent an average of $13,508 in the last nine months as they chase better returns in a low-yield environment, according to leading peer-to-peer lender RateSetter. This figure is a 25.4% increase from the $10,770 lent in the previous nine months. With the RBA keeping interest rates at rock bottom levels, and savings returns suffering as a result, Daniel Foggo, RateSetter CEO, said that investors were turning to peer-to-peer platforms as they shifted away from “volatile equities and low-return savings accounts and term deposits.” “We hear from investors that they are attracted by the compelling returns and lower relative risk, in particular the protection of their money […]
Valiant announces partnership with Octomedia to launch Inside Small Business LoanConnect
Leading fintech business loan marketplace, Valiant and Inside Small Business publisher Octomedia, announced the official launch of an exclusive partnership to bring business loan solutions to Australia’s small business community. The partnership is a major Australian publishing first which delivers an exclusive business loan search and application portal as a co-branded offer: Inside Small Business LoanConnect. By dynamically accessing Valiant’s panel of 35+ leading lenders, Inside Small Business LoanConnect compares small business owner’s loan requests to the lender’s credit criteria. Matching works instantaneously through Valiant’s proprietary marketplace technology – saving business owner’s time and stress. Valiant Co-founders, Alex Molloy and Richard Cotton expressed excitement for the new […]
Mutual lender takes equity stake in fintech platform
Beyond Bank Australia has become the fourth customer-owned lender to take an equity stake in growing marketplace lender SocietyOne. The mutual lender yesterday announced it has acquired $1.5 million worth of shares in SocietyOne, as well as agreeing to increase its funding arrangement with the marketplace lender to $10m. G&C Mutual Bank, Maritime, Mining and Power Credit Union and Regional Australia Bank joined SocietyOne’s share register in May this year following the company’s successful $25m capital raising. The move by Beyond Bank Australia to take a stake in SocietyOne follows a long relationship between the two, with Beyond Bank Australia among the first institutions to become a direct SocietyOne investor […]
How partnerships are driving this fintech lender forward
Small business lender GetCapital is utilising strategic partnerships to benefit its customers. Fintech companies were originally thought of as disruptors, but as the game continues the rules are starting to change. Today, you’re more likely to see banks and corporates building bridges with fintech companies rather than putting up defensive walls. This is the case for GetCapital, a small business lender sharing its reins with business heavyweights such as Qantas and Alibaba. Established in 2013, GetCapital started providing standard small business loans to Australian businesses and has now diversified it to include trade finance and invoice discounting. GetCapital CEO Jamie Osborn says the idea is to provide an online small business […]
Australian FinTech, Media Partner for LendIt Europe
Australian FinTech is delighted to be a Media Partner for the upcoming LendIt Europe conference, taking place on October 10-11, 2016 in London. We’re very excited to be part of this event and encourage you to attend if you have not already registered. As a LendIt Europe media partner, we are able to offer you an exclusive discount on LendIt Europe 2016 passes. Use the promo code AF16VIP when registering to receive 15% off your ticket. Register Now: http://bit.ly/29ZSvTm Partnered with the P2P Finance Association, LendIt Europe is Europe’s largest conference for the online lending community, with 1000 attendees expected in 2016. Confirmed speakers include: […]
