Online small business lender Prospa was named Fintech Lender of the Year at last week's MFAA National Excellence Awards 2020, meaning the group has claimed the title every year since the category’s introduction to the event.
Prospa’s national win followed its string of victories in the same category across every state and territory award event held over the month of June.
“We’re delighted to be voted Fintech Lender of the Year for the third year running,” said Alex Brgudac, Prospa head of partnerships.
“Winning a clean sweep of the MFAA fintech award is no easy feat. There’s a lot of strong competition out there, so we’re really proud of the result – especially knowing this category is broker-voted – it means a lot and makes me quite emotional.
“Congratulations goes to every single finalist and winner and thank you to the MFAA, not just for delivering a great virtual event, but for their ongoing support and industry leadership throughout the year.”
The fintech category was added to the MFAA's awards three years ago to recognise the new and powerful trend clearly taking shape within the industry, according to Stephen Hale, MFAA head of marketing and communications.
“The fintech has brought a new breed of choice across lenders, which is really healthy for consumers, including those who are small business owners as well,” he said.
“The MFAA National Fintech Lender of the Year award recognises this new segment of lending which uses technology to deliver better, faster customer and partner experiences. We really believe fintech lenders are going to become a vital part of the broker industry, and I think working with fintechs will help expand broker influence into the commercial and equipment lending sectors and will increase their market share.”
Prospa's strong showing across the 2020 MFAA awards events included a number of its BDMs being recognised in their states as finalists and winners.
Prospa BDM Erin Manhood won National BDM of the Year (Lender & Support Services Provider) and Clare Gallimore was a finalist in the same category, following her state win in QLD. David Robertson was also a state finalist for WA.
According to Brgudac, claiming the top fintech title “gets harder every year" as competition within the space continues to strengthen.
“Prospa winning three years in a row is a major achievement in a highly competitive environment and demonstrates the strong support and trust Prospa has built in the broker community over the years,” he said.
“Brokers are vital to what we do at Prospa and we’re passionate about helping them grow their businesses alongside their customers.
“We’re seeing some radical change out there across small businesses, where they’re being forced to adapt with things like digital technology and distribution; people have had to go through 10 years’ worth of digital change in 10 weeks. That can be nerve wracking, and I think brokers are well positioned to help small business owners around the country beat 2020, so they can not only survive, but thrive.”