Online lender appoints new NSW/ACT BDM

by Malavika Santhebennur•05:35 AM, 19 Feb 2020•11 minute read

SME lender OnDeck Australia has appointed former Rugby Sevens captain and broker Nick Reily to the newly created role of business development manager for NSW/ACT.

Mr Reily joins OnDeck from Prospa, where he was BDM for South Australia and the Northern Territory for nearly three years. He has also previously worked at major brokerage Aussie Home Loans as a finance and mortgage broker for a short period of time.

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Mr Reily commenced his role with OnDeck in January.

Speaking of his appointment at OnDeck, Mr Reily said: “The majority of small-business owners that I speak with through our broker partners are people who have taken a real gamble to open their business, and then taken steps to grow it.”

“With my sporting background, I understand what it means to see an opportunity and then go for it, so I’m looking forward to supporting brokers help their clients reach that next phase of business growth.”

Mr Reily added that his role at OnDeck provides him with an opportunity to interact with both brokers and their clients and to help brokers in assisting their SME clients achieve the next growth phase of their business.

OnDeck Australia national broker channel manager Robbie Fidler said Mr Reily was the first in a series of additional BDM appointments that the lender will announce this year, as it looks to service its growing portfolio of brokers and their SME clients.

“Nick brings extensive knowledge of SME lending, having worked in the field for almost four years. His experience spans multiple facets of the business, including the broker channel,” Mr Fidler said.

“Importantly, Nick is very comfortable in group settings, and he is fantastic at networking through the broker community.”

Mr Fidler joined OnDeck in October last year when he was appointed to the newly created role of national broker channel manager to manage the lender’s broker sales team.

OnDeck reported last year that it had seen a 70 per cent year-on-year increase in broker-originated loans from the 2018 to 2019 financial years.

The lender did not disclose exact figures to The Adviser, stating that it is unable to release proprietary information, but Mr Fidler highlighted the strategies it has implemented that has contributed to the growth.

“As part of our push into the broker channel over the past 12 months, we have joined several aggregator panels, including FAST and Consolidated Operations Group,” Mr Fidler told The Adviser.

“Our expansion into the broker channel has been accompanied by an enlarged business development team. We have more than tripled the headcount of our broker-facing business development team since the start of the year.”

OnDeck launched its equipment finance loan for small businesses in April last year after identifying that nearly a third of its existing borrowers were using its unsecured loan products to purchase equipment.