LOANS

Porges to lead P2P lender DirectMoney

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Original article by James Eyers
The Australian Financial Review – Page: 15 & 20 : 17-Mar-15

Peer-to-peer lending group DirectMoney, which offers an average interest rate of 14.75 per cent, aims to list on the Australian sharemarket. Executive chairman Stephen Porges, who was CEO of Aussie Home Loans for five years, expects P2P lenders to put downward pressure on interest rates for personal loans in the same way that Aussie forced lenders to reduce home loan interest rates. DirectMoney was granted an Australian Financial Services Licence on 13 March 2015

CORPORATES
DIRECTMONEY PTY LTD, AUSSIE HOME LOANS LIMITED, LIBERUM CAPITAL LIMITED, EAGLEWOOD CAPITAL MANAGEMENT, SAI GLOBAL LIMITED – ASX SAI, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SOCIETYONE AUSTRALIA PTY LTD, RATESETTER, THINCATS AUSTRALIA PTY LTD, MARKETLEND PTY LTD, MONEYPLACE, LEND2FUND, CITIBANK PTY LTD, KPMG AUSTRALIA PTY LTD, ADCOCK GROUP MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, WESTPAC BANKING CORPORATION – ASX WBC, IRESS LIMITED – ASX IRE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MORTGAGE CHOICE LIMITED – ASX MOC

Coles to play banks at own game

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Original article by Jared Lynch
The Australian Financial Review – Page: 19 : 15-Jul-14

Coles will expand its product offerings in the financial services sector, with the introduction of personal loans. The grocery retailer expects to receive regulatory approval by the end of 2014, but Coles Finance director Rob Scott has declined to comment on the possibility that Coles could also seek a banking licence. The new products will be offered in partnership with GE Capital

CORPORATES
COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, GE CAPITAL AUSTRALIA, TESCO PLC, J SAINSBURY PLC, MARKS AND SPENCER PLC, MASTERCARD AUSTRALIA LIMITED, VISA INTERNATIONAL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Nimble start-up challenges the big four

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Original article by Damon Kitney
The Australian – Page: 21 : 26-Jun-14

Technology company Nimble has raised $A10 million in new funding from Acorn Capital and Monash Investors. It specialises in providing small personal loans to creditworthy borrowers. It uses data analytics to reduce approval times. Australia’s big four banks are now under competitive pressure from small companies that use new technology to offer services such as payments, short-term lending, and peer-to-peer lending

CORPORATES
NIMBLE PTY LTD, ISELECT LIMITED – ASX ISU, ACORN CAPITAL INVESTMENT FUND LIMITED – ASX ACQ, MONASH INVESTORS PTY LTD, SEEK LIMITED – ASX SEK, SQUARE PEG CAPITAL PTY LTD, FACEBOOK INCORPORATED, SOCIETYONE AUSTRALIA PTY LTD, REINVENTURE GROUP PTY LTD