ANZ leads big banks on low personal loan rates
The big banks might need to start slashing interest rates if they want to compete in the personal loan market, and ANZ is currently leading the charge.
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Why smart Aussies are dumping credit cards for personal loans
There's a quiet revolution going on in the otherwise boring world of banking: thousands of smart Aussies are cutting up their credit cards in favour of personal loans. And for very good reason, which we'll get to in a sec.
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Peer to peer lender RateSetter launches green loan investment platform
In an Australian first the government-funded Clean Energy Finance Corporation will provide a $20 million cornerstone investment to peer-to-peer lender RateSetter to kickstart the online lender’s innovative green loan Marketplace.
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FinTechs Afterpay, Ratesetter and Society One pick up Finnie awards
The winners of FinTech Australia’s inaugural Finnie Awards have been announced, with familiar names Afterpay, Ratesetter and SocietyOne among them.
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Budget’s big bank levy could open the door for fintech lenders
In the 2017 Budget announcement, Treasurer Scott Morrison announced a 0.06% annual levy on key funding sources for Australia’s major banks - a cost that could be passed on to Aussie borrowers and may drive them toward alternate lending sources.
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Millennials top list for bad credit card habits
The millennial generation may want to give up paying for their avocado on toast with plastic, after new research by peer-to-peer lender, SocietyOne, found that they’re the worst offenders when it comes to credit card mismanagement.
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Revealed: New figures show Australians choosing personal loans over credit cards
Australian consumer credit applications have continued their steady rise in the March quarter, with new data showing a 4.6% increase since March 2016 which is largely being fuelled by growth in personal loans.
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$2.6 billion peer-to-peer economy booms in NSW after 68% growth
The surging popularity of ‘sharing’ services such as Airbnb, Uber and peer-to-peer lender SocietyOne in New South Wales has resulted in a 68% revenue increase in the states’ sharing economy from $1.6 billion in 2014-15 to $2.6 billion in 2015-16.
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Financial fair play: Choice leads consumer advocacy call for payday lender reform
A number of consumer advocacy groups have called upon the Federal Government to make good on its promise to crack down on ‘toxic’ payday lenders, with the industry often accused of charging exorbitant fees and interest rates.
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Peer-to-peer lender Harmoney coming to Aussie shores
Peer-to-peer lender Harmoney has recently set up shop in Australia, with Brisbane the first lucky city to host the fast growing company.
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