Unique marketplace driving alternative finance

by Madison Utley05 Apr 2019

The fourth annual AltFi Australasia Summit is approaching, with alternative finance leaders convening to discuss the future of the industry on 15 April.

“Alternative lenders are currently facing a unique convergence of market happenings: reduced trust in traditional lenders, the upcoming shift to open banking, and the impending introduction of comprehensive credit reporting,” said the global CEO of alternative lender OnDeck, Noah Breslow. 

The 2018 Deloitte Trust Index for Banking revealed that less than half of Australians trust that their personal bank will keep its promises, and only 36% feel that their bank has their best interests at heart.  

According to Breslow, “This has created an opportunity to capture an even greater share of business lending from the banks, as customers place greater importance in the areas of trust, transparency, affordability, convenience, and choice.”

Breslow is set to speak at the event, and will be joined by others such as Nick Molnar, co-founder and CEO of fintech AfterPay, Steve Weston, co-founder and CEO of neobank Volt Bank, as well as traditional leaders in finance, like KPMG’s Ian Pollari and NAB’s Jonathan Davey.

Molnar echoed Breslow’s sentiment saying, “More than anything, we focus on building relationships based on mutual trust. This is about understanding what people want and complementing that with the right service and the right technology.”

According to Mark Jones, CEO at peer-to-peer lender SocietyOne: “We believe the fintech industry is growing so strongly because of its focus on delivering a better – and more transparent – outcome for the customer.

“As an industry, we need to ensure this is maintained going forward,” he concluded.

Book your tickets today at: www.altfi.com/events/altfi-australasia-summit-2019