subscribe to our newsletter
CBA’s fintech partnership named industry’s best

CBA’s fintech partnership named industry’s best

Commonwealth Bank has been recognised for its ability to lend to small business customers with the help of a global fintech player.

The major bank’s partnership with OnDeck Australia was named FinTech-Bank Collaboration of the Year at the inaugural Australian FinTech Awards.

Launched as a pilot program in December 2015, the CBA-OnDeck collaboration services the bank’s retail SME customers with revenue under $1 million.

While CBA’s traditional small business loans are longer term, secured and linked to the owner’s personal credit score, OnDeck allows the bank to cater to the other end of the market with short-term, unsecured loans based on a range of credit information.

CEO of OnDeck Australia, Cameron Poolman, said he was honoured by the recognition.

“This award acknowledges the great work of the teams at Commonwealth Bank and OnDeck. Our collaboration is successful because we are pursuing the same objective, helping Australian small businesses grow through increased access to funding.”

[Related: CBA director joins OnDeck as operations chief]

CBA’s fintech partnership named industry’s best
mortgagebusiness logo

Latest News

A big four bank has announced that, by the end of this month, it will no longer offer self-managed super fund loans for new consumer or busi...

Affordability is often on the minds of the general public, and that, combined with rental opportunities, are reshaping the Australian dream ...

An increasing number of Australians are obtaining home loans from non-bank lenders, bypassing higher interest rates offered by traditional l...

Promoted Stories

podcast

LATEST PODCAST: Wayne Byres on mortgages, trusted brands and broker remuneration

Do you expect access to credit to get harder this year?