The fintech transformation

According to one fintech expert, brokers could soon be replaced by smart speakers. But will customers embrace such a technological leap?

Until the early 2000s, the process of booking a holiday involved trips to multiple travel agencies, hours thumbing through glossy brochures, and more sit-down meetings than the average mortgage currently requires. Today it’s a task that can be completed on a mobile phone during a coffee break.

There are many reasons why the travel industry experienced such a shift, from the lure of competitive prices to the convenience of consumers becoming their own armchair agents. People simply wanted to take more control.

Seeing the same demands echo throughout the finance and mortgage space, the co-founders of Australia’s first “cloud-native digital bank” – ex-NAB execs Nathan Walsh and Michael Starkey – believe it’s time the finance industry saw the same shake-up.

“Athena’s mission is to make the journey to homeownership faster, cheaper, and less stressful,” says Walsh.

“To create the best mortgage experience and savings benefits for borrowers and investors, we’ll bypass the banks to connect borrowers to super-fund-backed loans at much lower rates. Australians don’t need more debt. We need help to pay off our home loans faster. In as little as 15 minutes online, a borrower can apply to refinance their mortgage and get conditionally approved at a great rate.”

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Source: The fintech transformation