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Fintech goes head-to-head with traditional non-banks

James Mitchell 5 minute read

The non-bank sector has changed dramatically over the last year. Now’s the chance to have your say on how these alternative funders are performing.

The Momentum Intelligence Third-Party Lending Report: Non-Bank Lenders 2017 will provide a comprehensive overview of Australia’s non-ADI sector. Now in its fifth year, the report will rank and rate the non-bank lenders based on a survey of Australian finance brokers

In partnership with The Adviser, the Momentum Intelligence survey is open to all mortgage professionals including aggregator state managers, BDMs and support staff.

The survey will see non-banks rated on product and pricing, range of product, turnaround times, BDMs, credit assessment staff, client support, training and education, commission structures and how likely respondents are to recommend a lender to another broker.

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In addition, brokers will have the chance to rank their favourite specialist lender, mortgage manager, equipment finance lender, cash flow and debtor finance provider and short-term lender.

“The non-bank lending landscape has changed significantly with the emergence of new online players, particularly in niche lending segments such as SME and short-term funding,” The Adviser editor James Mitchell said.

“There is now a growing sub-group of alternative funders competing with non-bank incumbents for a greater share of broker-originated loans,” Mr Mitchell said.

“They’re leveraging technology to deliver solutions to broker clients, which has created a fresh competitive dynamic within the non-bank sector,” he said.

“Meanwhile, as the banks continue to tighten credit and pull out of certain segments of the mortgage market, the non-banks have stepped up to fill the gap. Anecdotal evidence tells us that more and more brokers are using non-bank lenders in today’s market.”

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Have you used a non-bank lender recently? Rate their performance in the Momentum Intelligence Third-Party Lending Report: Non-bank lenders 2017 survey in partnership with The Adviser.

Fintech goes head-to-head with traditional non-banks
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James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

 

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