3 Alternative lending platforms in Australia to watch out for in 2023

By Leandra Monteiro

The Lending industry is witnessing a major shift from traditional to new, unconventional lending models. New entrants such as FinTechs are seamlessly integrating lending with other ecosystems. Alternative data is also gaining huge importance for decisioning, and new-age lenders are leveraging technology to make the process faster, more accurate, and more seamless.

Here are 3 digital lending platforms in Australia to watch out for in 2023:

• Lendi

Lendi makes it easy to search, choose and settle home loans online and is Australia’s only home loan platform designed with a built-in ‘best interest’ duty to borrowers.

Lendi’s smart technology searches over 2000 products from over 40 lenders to find customers the right home loan for their specific needs. Its team of Home Loan Specialists then help with the application to settlement, they’re even on-hand to guide throughout the home loan process.

• MoneyMe

MoneyMe is a digital financial service company that offers fast and easy credit products to tech-savvy Australian consumers and businesses. It offers multiple consumer loan products including personal loans, point of sale financing, debt consolidation loans, cash advance loans, and more. With its advanced tech-driven platform, its experience provides consumers with a seamless online process done in minutes via their mobile phone.

The platform offers a range of fast, flexible, and competitively priced products for Generation Now that cover everything from everyday spending and loans for bigger ticket items, to real-estate expenses and auto financing.

• Moula

Moula was founded in 2013 to help hard-working business owners in Australia access the business finance they need to grow. In the past, getting a business loan meant going through weeks of paperwork, hassle, and hurdles. The platform uses data to assess the business loan application, which means it can keep things fast and painless. The company’s founders are finance industry experts who are passionate about using technology to simplify small business finance and backing good businesses.

ALSO READ: Global Lending Vendors & Landscape Report Q4 2022