Powered by MOMENTUM MEDIA
Mortgage business logo

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]

Share this article
brokerpulse

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

brokerpulse graph

What are the main barriers to securing a mortgage at the moment?