Game-changer: Pepper Money's new strategy boosts non-banks and unlocks options for brokers

The non-bank continues to compete in an increasingly competitive lending environment

Game-changer: Pepper Money's new strategy boosts non-banks and unlocks options for brokers

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By Kellie Ell

Pepper Money is updating its game plan. 

The non-bank has long relied on broker webinars, seminars and activations to boost the Pepper brand and teach brokers the ropes. Now Pepper has added heavy hitter and Australian fan favorite Wests Tigers national rugby league (NRL) to the team. The union is all part of Pepper's bigger game plan to put non-banks on the map and make sure brokers and borrowers alike are aware of non-bank lending options. 

"It's a win-win," Pepper's Chief Marketing Officer Sarah Pikardt told Australian Broker

"Investing in our brand plays a vital role in building a strong brand presence and trust with customers," she continued. "It empowers our brokers and partners to position Pepper Money as the first-choice non-bank lender with their customers."

Barry Saoud, general manager, mortgages and commercial lending, added that "brokers are thirsty for knowledge" about lending options. Meanwhile, having Pepper's name plastered on the Wests' jerseys during the team's highly-watched games is a score for both Pepper and a major spotlight moment for the whole non-bank crew.

Pikardt said the Wests Tigers' tie-up "plays an incredibly important role in building recognition and trust, making it easier for our brokers and partners to help customers understand their non-bank options.

"The Wests Tigers staff and players are well-known and respected figures in the community," she continued. "Their involvement helps to create a stronger connection with the community, making the campaign more relatable and impactful." 

Australia's non-bank sector continues to compete with traditional banks in an increasingly competitive lending environment. An April 2025 report by the Reserve Bank of Australia (RBA) estimated that non-banks represent between 10% and 16% of the total lending landscape — and that number is only predicted to keep growing. 

"The share of non-banks will definitely continue to grow." Saoud said. 

And brokers can benefit from understanding all lending options as the market continues to heat up. 

"Alternative lenders offer more options for some people who previously were not able to get financing," Saoud said. "And that could increase the client pool for brokers."

And with the RBA's next meeting on the horizon — and expectations of a rate cut intensifying — the nation's lending environment is poised to become a battleground, as lower borrowing costs will likely ignite even more competition among lenders, all vying for borrowers who are on their own mission to snap up cheaper loans.

Commonwealth Bank (CBA) recently reduced its digital variable mortgage rate to 5.84%, aligning with Westpac and ANZ, ahead of the RBA's May 19 to 20 meeting. The move brought the total number of lenders reducing rates to 19. 

In the case of Pepper, the non-bank launched "Prime Time Flex Bomb" in April, which removed lenders' mortgage insurance (LMI), lenders' protection fees (LPFs) and risk fees on prime full-doc property loans — and claimed to potentially save homeowners tens of thousands of dollars.

"For us, we have a strong relationship with brokers," Saoud said. "It's about providing high quality products and services, around the personal touch, around our sales team and credit, competitive pricing and delivering on that speed. And non-banks often offer faster turnaround times for financing. We can respond very quickly through technology an new products to market." 

The Wests Tigers partnership includes a TV commercial with NRL Head Coach Benji Marshall, National Rugby League Women's Premiership (NRLW) Captain Kezie Apps, and NRL Co-Captains Jarome Luai and Apisai Koroisau.

Shane Richardson, Wests Tigers chief executive officer, said Wests' team members were excited to participate in the "Really Helpful" campaign, underscoring that collaboration isn't just a strategy on the field, but inherently what it means to be part of a team. 

"That's what our club is about," he said. 

The campaign will roll out across digital, stadium and media channels throughout the 2025 season. In addition, Pepper will host a number of pop-up activations, initiatives and exclusive game-day experiences for brokers. 

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