SocietyOne posted record amounts of lending in 2017, but those about to tie the knot might be overlooking the potential value of a personal loan, according to a new survey from the peer-to-peer lender.
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The big banks might need to start slashing interest rates if they want to compete in the personal loan market, and ANZ is currently leading the charge.
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There's a quiet revolution going on in the otherwise boring world of banking: thousands of smart Aussies are cutting up their credit cards in favour of personal loans. And for very good reason, which we'll get to in a sec.
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The winners of FinTech Australia’s inaugural Finnie Awards have been announced, with familiar names Afterpay, Ratesetter and SocietyOne among them.
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In the 2017 Budget announcement, Treasurer Scott Morrison announced a 0.06% annual levy on key funding sources for Australia’s major banks - a cost that could be passed on to Aussie borrowers and may drive them toward alternate lending sources.
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The millennial generation may want to give up paying for their avocado on toast with plastic, after new research by peer-to-peer lender, SocietyOne, found that they’re the worst offenders when it comes to credit card mismanagement.
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Australian consumer credit applications have continued their steady rise in the March quarter, with new data showing a 4.6% increase since March 2016 which is largely being fuelled by growth in personal loans.
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The surging popularity of ‘sharing’ services such as Airbnb, Uber and peer-to-peer lender SocietyOne in New South Wales has resulted in a 68% revenue increase in the states’ sharing economy from $1.6 billion in 2014-15 to $2.6 billion in 2015-16.
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A number of consumer advocacy groups have called upon the Federal Government to make good on its promise to crack down on ‘toxic’ payday lenders, with the industry often accused of charging exorbitant fees and interest rates.
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