Mark Woolnough joins debt consolidation lender

The fintech lender specialises in providing debt consolidation and personal loans to near-prime customers, offering rate discounts to borrowers when they complete financial education modules.

Its interest rates start from 20.50 per cent (APR 19.46 per cent) across all loan types.

The aim of the lender is to help bring more borrowers out of financial difficulty while empowering them to improve their financial literacy. It positions itself as “Australia’s only, education first socially responsible lending platform”.

Mr Woolnough, who was more than 30 years of experience in the financial services space (most recently as the executive — head of sales at property data and analytics company CoreLogic), has now been brought in to the non-bank lender to help build its broker strategy.

Having been working under a part-time contract agreement since early April, Mr Woolnough took up his position full-time on Monday (15 May).

In his new role, the head of distribution will co-ordinate and execute the debt consolidation lender’s broker and distribution strategy. This includes engaging with industry, building a strong sales team presence, and establishing a prominent position in the market for Salt&Lime.

Welcoming the new appointment, Salt&Lime chief executive and co-founder Will Kiln (who worked with Mr Woolnough at ING) commented: “For Salt&Lime, Mark represents an ideal blend of dedication to our mission and a wealth of experience in distribution and banking.

“From having previously worked together, I’ve witnessed first-hand his ability to strike a balance between customer-centric thinking and value proposition.

“Mark has consistently demonstrated his ability to craft strategies that serve both the business and our customers. His unique approach, coupled with his profound understanding of the industry, make him the perfect fit for Salt&Lime.

“Entrusting him to lead our distribution efforts felt like a natural choice, and I am personally excited to work with Mark on delivering such a unique proposition that supports both of our passions for delivering on purpose.”

Speaking to The Adviser about his new position, Mr Woolnough said: “Quite simply, I joined Salt&Lime because our values align perfectly. I’m committed to supporting, educating, and empowering Australians in their financial wellbeing.

“With 30+ years of experience in the financial services industry, I connected with Salt&Lime’s unique focus on incentivising customers to improve their financial wellbeing through education. I’m excited to work with Will and the energetic team at Salt&Lime, combining my passion for purpose with my respect for the broker industry.

“Enabling brokers to offer their customers an ethical, transparent, and socially responsible lending solution is a testament to our unwavering dedication to empowering Australians and helping them achieve a better, more secure, and prosperous financial future.”

[Related: Mark Woolnough joins CoreLogic exec team]