subscribe to our newsletter

Fintech lender enters prime space

A Brisbane-based fintech lender has announced plans to enter the prime personal loan market, after six years of offering small loans in the near-prime and specialist space.

Jacaranda Finance CEO and founder Daniel Wessels said the lender’s move into the prime space has come about naturally as the company “grows up”.

Mr Wessels said moving into the prime space would allow the company to offer personal loan solutions to a full spectrum of borrowers and increase relevance in the evolving personal loan space.

“This is a natural evolution of Jacaranda as a lender,” he said.

“We have been operating in the subprime and near-prime space for a number of years, and over time we’ve seen an increase in clean credit borrowers as traditional lenders rely heavily on credit scores and as digitally savvy consumers flock away from the inflexible nature of traditional lending and banking services.”



Mr Wessels said that in the short term, the lender will continue to use consumer data to launch new products and establish new partnerships.

“Yet, we’ll also continue to find ways of engaging with customers to their benefit,” he concluded.

[Related: Wisr launches vehicle lending product]

Fintech lender enters prime space
Fintech lender enters prime space

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

Latest News

The prudential regulator has written to ADIs to ensure that they are proactively managing lending risks and focusing on lending standards am...

As it waits for APRA to approve its acquisition of MyLife MyFinance, Challenger has flagged plans to expand the bank’s lending remit to co...

Australia has the second-highest mortgage debt as a proportion of GDP among OECD nations, according to a new report. ...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.