Wave Money appoints new head of lending

Non-bank lender Wave Money has weclomed Tyler Peters into the role of head of lending, effective 27 November 2023.

A seasoned leader with a specialisation in lending operations, credit, and risk, Mr Peters brings experience with both bank and non-bank lenders notably with major bank NAB for 5 years and most recently with Bluestone Home Loans, where he has led teams through periods of growth and has been at the helm for “a range of innovations designed to deliver better outcomes for brokers”, according to Wave Money.

The chief executive and founder of Wave Money, John Flavell, welcomed Mr Peters to the team, stating: “Tyler’s significant experience along with the wonderful reputation and standing he has across the broker and aggregator community makes him a great fit for our business.

“The head of lending role is a significant leadership appointment and central to the Wave Money service offering as our lending volumes step up to record levels.

“While the business has been built on best-of-breed technology, the broker and customer experience are powered by onshore people, expertise, and relationships.”

Mr Flavell further commented on the amount of staff reductions being undertaken by lenders over the past six months, stating that there is “nothing more valuable than hiring great people and enabling them to connect and work closely” with brokers.

“Tyler’s appointment to this key role is underwritten by this belief,” he said.

“We are delighted to have Tyler join the team and we are excited about the positive contribution he can make as Wave Money continues to grow.”

Speaking to Mortgage Business on the company’s growth and plans for the future, Mr Flavell said that 2023 was “certainly a big year” on the back of “delivering some great service and accommodating policies and processes to brokers”.

“I think the environment is going to be pretty tricky for a lot of borrowers [in 2024] and brokers with the cash rate sitting high and possibly going higher,” he said.

“So, having a lender that can pick up the phone and have a discussion with the people that make the credit decisions is going to continue to be even more important than it was previously.

“And so, we’re making sure that we’re building a team that’s [made of] competent, capable, and experienced people that understand mortgage lending, [who will continue] to work with brokers to build solutions for people in an environment that’s increasingly challenging.”

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