Industry ripe for innovation, says asset finance firm

by Phil McCarroll13 Sep 2016
Major car and asset finance provider stratton has put innovation at the forefront with the appointment of a new senior executive.

The financer recently announced that Toby Simmons would join the organisation in a newly created senior executive role that will focus on continuing digital and technological innovation to help better meet the needs of both consumers and brokers.

Prior to joining stratton, Simmons was chief executive officer and co-founder of Favourit, a specialist media and technology company in the online wagering industry. Simmons has also worked as general manager of Agility Interactive, the digital subsidiary of TOTE Tasmania.

Speaking to Australian Broker, Simmons said he would be looking to expand on stratton’s existing digital footprint and systems to improve their offerings for both brokers and consumers.

“Whatever we can do to be able to make things easier for the customer and as a result make the broker be able to help them to a greater level is really our priority,” he told Australian Broker.

“At the end of the day it’s a customer first business, so the number one priority for us is to make sure however the customer wants to engage with us, whenever they want to engage with us and whatever requirement they have, our consultants are able to meet those requirements in real time.”  

Simmons said a key part of his new role would be to improve stratton’s existing systems so that consumers can engage with them digitally from start to finish and ensure the company provides borrowers with transparency around what their products offer.

While Simmons will be focused on helping stratton further innovate in the digital space, he said the wider finance and broking industry is ripe for further innovation and disruption.

“I think traditionally the notion of innovation is somewhat exclusively believed to be with start-ups which I think is categorically wrong,” he told Australian Broker.

“stratton is a perfect example of a company that has been and is continuing to be genuinely innovative and forward thinker in a market space where there are lots of different stakeholders and lots of different requirements and legislative pieces.

“There’s a great opportunity to look at ways which you can make the customer experience more seamless. By having [legislative] requirements in the industry it certainly makes sure that everyone has the right process and protocols around the way that they operate.”