InfraRisk, Janko to launch digital lending platform in Australia
By Edil Corneille
InfraRisk, a FinTech solutions provider, today announced that it has partnered with Janko Loans to launch a new-generation online lending platform. The platform leverages InfraRisk’s end-to-end and modularized digital lending capabilities to offer unsecured loans quickly and efficiently in Australia.
Janko is an Australian Credit License holder based in Brisbane that aims to serve primarily the underbanked population with advanced technologies and boost financial inclusion in Australia.
With a streamlined process and integrations to automate KYC, bank statement analysis, and real-time payments, Janko’s newly launched platform helps deliver loans efficiently, easily, and instantly, while staying compliant to regulations.
Nicholas Davies, founder and CEO of InfraRisk elucidated, “We are looking forward to the application of our digital lending platform in Australia and applying the world’s best practice in automation and AI-driven risk models to create a fair and effective lending solution for this segment of the market.”
The technology platform itself can also be used to power Buy Now Pay Later products. In September 2019, Roy Morgan found 1.95 million Aussies (or one in 10) had used at least one BNPL service – such as Afterpay or Zip, up 41.3% from a year ago. The platform technology from InfraRisk used by Janko is said to be prime to help financial institutions set up similar service capabilities.
With the introduction of Open Banking in Australia, InfraRisk’s extensive experience in applying big data analytics, artificial intelligence, machine learning, and anti-fraud algorithms ensures that its lending solutions are able to determine an applicant’s credit quality and disburse loans within seconds while meeting strict regulatory guidelines and applying responsible lending practices.
“The Consumer Data Right Act has served as the foundation for open banking in Australia,” Davies enunciated. “With user’s authorization, we can now obtain bank transaction data relating to credit and debit cards, deposit accounts and transaction accounts, which is critical for credit assessment and risk management in real-time digital lending.”
InfraRisk enables Janko to manage the whole life cycle of lending, from loan origination to loan collection, to be fully automated and delivered through digital channels. Incorporated in November 2008 and headquartered in Melbourne, InfraRisk has over 10 years of experience in providing financial technologies to banks and financial institutions in Australia, Europe, China, and across the Asia Pacific.
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage