Home / News / WLTH enters ultra-competitive digital lending market

WLTH enters ultra-competitive digital lending market

News

WLTH is a brand-new financial services neo-platform providing Australians with a smarter, sustainability-focused solution to financial products but particular residential and commercial loans. WLTH is the latest ‘non-bank’ digital lending and payments platform seeking to disrupt the financial services industry in Australia. The launch follows the recent shutdown of neo-bank Xinja after it failed to gain enough traction in the market.

The app is a cross between a traditional banking app like CommBank with a lending service like Nimble and a home loans platform like Lendi. With a focus on technology, loyalty and sustainability, WLTH is designed to provide Australians with a reimagined approach to flexible residential, SMSF and commercial lending solutions, to begin with, before entering into the digital payments sector in 2021.

The company enters the market with its flagship ‘Lending Loop’ platform, which takes customers through a simple five-step digital application process to safely and effectively apply for a low rate, hassle-free property loan or to refinance an existing loan.

  • Founded in Brisbane in 2019 by serial entrepreneurs Brodie Haupt, Drew Haupt, Darren Hodgkin, and John Kerr, WLTH will bring to market a suite of tech-centric products, including commercial and residential lending, feature laden transactional accounts, a powerful payments app, a high value loyalty system and a pipeline, including a myriad of further fintech solutions.

    Co-founder of WLTH, Brodie Haupt said the company was born out of a need to create improved and higher value financial experiences, which had been long dominated by slow-moving banks and inefficient business systems.

    “For too long Australians have had to jump through hoops in order to secure a loan, whether it be for personal or business purposes. With tenuous paper centric application processes and a lack of user-friendly tech products to manage and interact with their financial institution, we strongly believe WLTH is in a unique position to bring an improved and higher value experience to market.

    “For this reason, we don’t call ourselves a bank. Our competitive differentiation lies in being able to provide financial services that meet the needs of Australians, without the bureaucracy, limitations and legacy systems of the Big 4,” Haupt continued.

    “To simplify the process, WLTH is invested in the acquisition and development of our own native technology solutions to ensure the company continuously brings world-class fintech solutions to Australians.”

    Managing Director of Gleeson Quantity Surveyors, Zac Gleeson said: “It was great to be involved in the beta testing round prior to WLTH’s official launch. We found that WLTH’s lending loop platform was such an efficient process, and we were excited to see the power of its technology first-hand.”

    WLTH will enter into the market with a launch offer variable loan product for owner occupied residential properties of 2.09 per cent  (comparison rate of 2.15 per cent) for new purchases and refinances.

    Australians can apply for loans online, as well as gain access to dedicated lending specialists and/or Business Support Managers.




    Print Article

    Related
    The bank of mom and dad taking tougher line on credit

    AMP research finds baby boomers reluctant to sacrifice their living standards to bankroll their offspring into housing. But they (happily) let them keep living at home and paying their bills.

    Tahn Sharpe | 5th Jun 2024 | More
    The naked truth about fake news and how to recognise it

    In an era of fake news, it’s getting more difficult to separate fact from fiction. Yet it’s imperative we do so because the consequences for being deceived can be enormous.

    Nicholas Way | 1st May 2024 | More
    Welcome to The Golden Times

    Retirees face challenges and opportunities. At The Golden Times, our ambition is to assist you navigate the former – especially financial – while revealing the new vista of opportunities a secure and dignified retirement can bring.

    Nicholas Way | 10th Apr 2024 | More
    Popular