Fintech Lenders Should Band Together

In July, I provided some commentary on why I think it’s important that Fintech Lenders band together to fight the Big Bank dominance that currently exists in Australia.

There have been so many new entrants in the online lending space recently and we are all working very hard to validate that there is a credible alternative to the major banks that can save Australian’s thousands of dollars on their home loan. From my experience over the last eight years since starting loans.com.au, our real competition are four big banks that hold a majority of home loans in Australia.

It might be surprising that an online lender is welcoming other competitors to the market, but I think it’s important that there is more competition in Australia as it’s the only way we are going to break the monopoly.

For my full press release on the topic, click here.