Former big bank CIO joins fintech board

by Miklos Bolza26 Jul 2017
Online loan marketplace and fintech HashChing has welcomed two new financial services heavyweights to its advisory board.

Paul Rickard, managing director of CommSec and former executive at Commonwealth Bank of Australia, and Marty Switzer, chief operating officer of the Switzer Financial Group both joined the board in June earlier this year.

“Marty brings with him extensive media experience which will help to elevate HashChing's public profile even further. While Paul, founder of CommSec and previously executive general manager for payments and business tech at Commonwealth Bank, will assist HashChing's expansion into other financial verticals,” Mandeep Sodhi, founder and CEO of HashChing, told Australian Broker.

Both Rickard and Switzer have also invested an undisclosed amount in the fintech as part of its current capital raise.

Existing board members include Victor Jiang, founder and executive chairman of Sapien Ventures; Helen Lorigan, fintech mentor and venture partner for Sapien Ventures; Claire Wivell-Plater, managing director of The Fold Legal; and Siobhan Hayden, COO of HashChing and ex-CEO of the MFAA.

“HashChing has made strong inroads into expanding its platform beyond the constraints of the traditional mortgage marketplace, evidenced in its recent partnerships with insurance giant CGU, and online e-conveyancer Titlexchange,” Sodhi said.
“Paul and Marty will be instrumental in helping HashChing to further scale the business so that it can continue to disrupt the industry and bring quality deals to customers.”

Board positions are reviewed on a regular basis with Rickard and Switzer sitting as members for the foreseeable future, he added.

“HashChing is looking to further evolve its business model and add the tools that best assist mortgage brokers in any cross-selling opportunities, this will ultimately mean customers can save more when looking to buy or refinance property.
“With expansion into other products, HashChing decided to add experts from their relevant domains to support its aggressive growth plans.”

Since its launch on 1 August 2015, HashChing has received over $8.5bn worth of home loan applications from 17,500 borrowers (with more than $7bn from over 14,000 Australians in the past 12 months). The firm has also incorporated predictive analytics, geo-targeting, machine learning and virtual verification of identity (VOI) into its platform.

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