Neo-financial services platform WLTH launches, but don’t call them a bank!
Digital lending and payments provider WLTH has announced its official launch, in an effort to refresh the financial services industry in Australia. The neo-financial services company will launch with high ambitions for the market, with growth projections of $1.23 billion worth of residential and commercial loans by the end of FY22.
With a focus on technology, loyalty and sustainability, WLTH is designed to provide Australians with a reimagined approach to flexible residential, SMSF and commercial lending solutions, to begin with, before entering into the digital payments sector in 2021.
The company enters the market with its flagship ‘Lending Loop’ platform, which takes customers through a simple five-step digital application process to safely and effectively apply for a low rate, hassle-free property loan or to refinance an existing loan.
Founded in Brisbane in 2019 by serial entrepreneurs Brodie Haupt, Drew Haupt, Darren Hodgkin and John Kerr, WLTH will bring to market a suite of tech-centric products, including commercial and residential lending, feature laden transactional accounts, a powerful payments app, a high value loyalty system and a pipeline, including a myriad of further fintech solutions.
Co-founder of WLTH, Brodie Haupt said the company was born out of a need to create improved and higher value financial experiences, which had been long dominated by slow-moving banks and inefficient business systems.
“For too long Australians have had to jump through hoops in order to secure a loan, whether it be for personal or business purposes. With tenuous paper centric application processes and a lack of user-friendly tech products to manage and interact with their financial institution, we strongly believe WLTH is in a unique position to bring an improved and higher value experience to market.
“For this reason, we don’t call ourselves a bank. Our competitive differentiation lies in being able to provide financial services that meet the needs of Australians, without the bureaucracy, limitations and legacy systems of the Big 4,” Haupt continued.
“To simplify the process, WLTH is invested in the acquisition and development of our own native technology solutions to ensure the company continuously brings world-class fintech solutions to Australians.”
Managing Director of Gleeson Quantity Surveyors, Zac Gleeson said, “It was great to be involved in the beta testing round prior to WLTH’s official launch. We found that WLTH’s lending loop platform was such an efficient process, and we were excited to see the power of its technology first-hand.”
