Lender looks to triple growth through broker channel
A marketplace lender has surpassed its target for loan origination through the broker channel, and is aiming to triple growth through the third-party channel in the next year. Speaking to The Adviser, the CEO of personal loan provider SocietyOne, Mark Jones, reflected on the success of the brand over the 2018 calendar year, particularly referencing […]
CashDeck app Wealth Desk is a game changer for mortgage brokers
CashDeck have released their Financial Fitness Tracker app called Wealth Desk for Apple and Android and it’s set to be a game changer for the 65% of mortgage brokers who find marketing and lead generation a challenge. The app is a simple tool that helps clients prepare for the lending process. But, for the broker, […]
Digitisation of loan variations ‘more important than ever’
The renewed focus on responsible lending has brought into focus the need for lenders to digitise the loan variation process for brokers, a technology sales director has said. Speaking to Mortgage Business, NextGen.Net’s sale director Tony Carn said that more lenders needed to focus on offering digital loan variations in order to “empower brokers to […]
Open banking could make expense checks easier for brokers
Brokers will be one of the many beneficiaries of the comprehensive credit reporting and open banking regimes, according to mortgage industry executives. Stephen Moore, CEO of Choice, believes brokers will significantly benefit from the mandatory comprehensive credit reporting (CCR) regime — which is yet to be legislated despite the government imposing a deadline on the major banks to […]
Citi tapped to raise for online broker ahead of IPO
There’s never a dull moment in the emerging fintech sector. Street Talk can reveal online trading broker ThinkMarkets has hired investment bank Citi to oversee a second pre-initial public offering funding round, which is expected to value the company at more than $100 million. Sources said Citi will seek to raise $20 million to $30 million from […]
Digital disruption disrupting brokers
Digital disruption could be a threat to broker networks, according to APRA chairman Wayne Byres. The chairman spoke at the Australian Prudential Regulation Authority’s (APRA) Curious Thinkers Conference in Sydney on 24 September. He discussed the impact on emerging fintechs, saying it was “too soon to tell whether the financial world faces evolution or revolution”. […]
New fintech launches in Australia
A fintech firm attesting to be “your online personal loan broker” has announced its transition to Australia, after tackling the United Kingdom and the USA. Friendly Finance provides consumers with a point of reference when seeking credit online, focusing on credit cards, loans and insurance. The fintech offers real-time comparisons on the best deals for […]
$2bn of broker commissions in fintech’s crosshairs
An Australian fintech has set its sights on disrupting the dominance of the mortgage broking industry by appealing to the banks who it claims are keen to reduce the $2 billion they spend on broker commissions. Adelaide-based online home loan platform Joust has distanced itself from its competitors in the fintech space, which has seen […]
