Personal lender Fair Go Finance has launched a tech hub in Mandurah, Western Australia, in an effort to drive innovation.
Perth-based fintech Fair Go Finance has expanded its existing investment of over $2 million in the Mandurah team by creating eight new technical and operational roles, expanding the team to over 30 people.
The new employees will run the tech hub, intended to drive innovation in financial software development, to provide and improve real-time access to services for all Fair Go Finance’s customers Australia-wide.
The additional investment in regional Western Australia is also intended to contribute to the economical growth of Mandurah, according to Fair Go Finance CEO Paul Walshe.
“Mandurah is rapidly becoming a centre for technical expertise and is attracting more and more experts who have the right skills and can support us in driving innovation in the fintech space,” Mr Walshe said.
“I would encourage governments, particularly the WA state government, to do more to invest in the economic growth drivers, beyond what interest rate reductions can deliver, to attract and support companies and people in places like Mandurah.”
The CEO continued: “We are committed to growing our business in Mandurah and have a vision for it to be the ‘Silicon Valley’ of WA. Our aim is to have a specialised team of technical innovators providing our customers with fast and secure access to non-bank personal loans via the latest financial technology.”
Mayor of Mandurah, Rhys Williams, welcomed the increased investment in the town.
“The vision for the 21st century Mandurah is that we continue to grow as a place with a culture of pushing the limits and doing things differently; however, to do this we need a solid ecosystem wrapped around innovation,” Mayor Williams said.
“We need businesses innovating and utilising the local resources successfully, and Fair Go Finance is a prime example of how it can be done.”
Over the last 10 years, Fair Go Finance said it has employed more than 120 people in WA, paid more than $13 million in wages and superannuation, and invested hundreds of thousands of dollars in staff training.