3 digital lending platforms to get instant loans from in New Zealand

By Leandra Monteiro

The Lending industry is witnessing a major shift from traditional to new, unconventional 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.

There are a number of alternative lending start-ups in New Zealand, transforming the lending space. Here are 3 digital lending platforms in New Zealand to watch out for in 2023:

• Apollo Finance

Apollo Finance is a financing firm in New Zealand for online personal and commercial finance solutions. Apollo Finance offers a range of competitive finance solutions for both personal lending needs and business. From mortgages, vehicle loans, personal loans and debt consolidation through to business loans and invoice factoring, Apollo Finance has it all.

• Lending Crowd

Lending Crowd is an online platform for peer-to-peer personal, small business and auto loans from $2K to $200K. Lending Crowd combines some clever ideas, with the latest technology, to create and operate a financial marketplace where people with money to invest connect directly and anonymously with people looking to borrow.

There are no middlemen, its marketplace operates very efficiently and aims to pass this on to both borrowers and investors with great deals. The company’s mission is to lower the cost of borrowing and take the hassle out of the process for borrowers and open up a whole new class of investment with great returns to investors.

• Nectar

Nectar is a neo-lender for the next-generation digital consumer finance provider. With a simple and 100% online process, its technology provides an interactive loan offer in 7 minutes and same-day funding. Nectar provides the simplest, fastest and most transparent way for kiwis to access finance.

Nectar goes beyond the traditional method of assessing credit and uses a variety of data sources to create a 360-degree profile of its customers. This allows the company to offer its customers the right loan at the right price, with flexible repayment options. With Nectar users are able to review their loan options in complete anonymity, or, if they prefer, the experienced team is available to provide any answers and support when required.

ALSO READ: Global Lending Vendors & Landscape Report Q4 2022