Credi news and media releases

,

New Zealand Herald digs deep to find out about the new Fintech in town

new zealand herald

Credi.com, last month, announced the launch of its platform in New Zealand. Now with only a week to go, the New Zealand Herald has dug deep to find out what to expect from Credi’s fintech platform.

The main question on their mind was ‘the level of protection for users’. But CEO Tim Dean reassured them that the loan agreements were legally binding.

Dean states that “People are lending millions of dollars to friends and family, not because they want to make money out of them, but because they want to help them out and they just want to have a structure that means they don’t have to talk about it, and if there’s ever a problem ‘this is what we said, there’s no dispute’.”

Read the article in full below.

 

Credit: NZ Herald Staff Reporter

Source: New Zealand Herald

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.
,

Credi Featured on Channel 9 News Discussing the “Bank of Mum and Dad”

Credi loan agreement platform on Channel 9 News

Credi was live on Channel 9 News last Thursday and Friday. Nathan Brooks reports on how many adult children are turning to their parents when buying their first home. Resulting in the so-called ‘bank of mum and dad’ becoming the fifth biggest lender in Australia.

CEO, Tim Dean, created the platform to help family and friends formalise and manage loans. 9 News reported that 50% of informal loans between family and friends aren’t documented, as a result arguments often arise and relationships can be damaged. Tim Dean, having countlessly lent to his adult children and colleagues over the years realised how important a platform like Credi was to help protect relationships and safeguard trust.

Watch the video below of the interview that aired on 9 News Thursday and Friday of last week

 

 

Credit: Nathan Brooks 9 News

Source: Nine News

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.
,

Credi shared across social platforms after Australian FinTech feature

australian fintech

Last week Australian FinTech shared with their subscribers the exciting news of Credi’s international expansion. The financial technology (fintech) news platform then went on to spread the word to their well-established social pages.

Australian FinTech wrote of Credi’s success in only 6 months and CEO Tim Dean’s, well thought out plan to expand. After reaching $32 million of loans on the platform and 1400 users Dean decided to start the international journey by launching in New Zealand. Next on the list is the United Kingdom and the United States. But they won’t stop there, Credi hopes to go global in time.

Tim Dean also talks about Credi’s next step move is to roll out commercial advertising in Australia and New Zealand, which he believes will have a great impact.  You can expect to see these adverts in the next month. So be sure to keep an eye out on your television.

 

Credit: Australian FinTech

Source: australianfintech.com.au

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.

3 Easy Steps to Lend Money the Smart Way

lend money

Credit.com highlights 3 easy steps to help you lend money safely to your family and friends.

If a friend or family member is ever in need most of us are more than happy to lend a helping hand even if it involves financial support. However, for those friends or family members that can’t get a personal loan from a commercial lender, most likely due to damaged credit or no credit, proves to be a risk for you, as the lender. So if you do choose to lend to them it’s always a good idea to protect yourself and your relationship, because we all know that sometimes things turn sour.

Lend the Smart Way

Credit.com highlights 3 steps, the first being:

  1. Set a Fair Interest Rate

Setting an interest rate, one that is competitive with one from a commercial lender can work in both yours and the borrower’s favour. An interest rate provides you with interest similar to what you may get if you were to put it into a savings account. It also offers you security, for if the borrower agrees to pay the interest this may prove they genuinely need the money.

  1. Get Your Agreement in Writing

When lending to family and friends credit.com always recommends writing out your agreement. If you’re uncomfortable with this be assured you’ll be even more uncomfortable with having to remind them and even of chase up the repayments. Again if they’re in serious need of financial support writing down some details and signing a document will prove they’re genuine about the loan. Be sure to spell out the terms, such as how much is borrowed, the time period, interest rate and repayment details.

Be sure to check out Credi.com who will help organise all these details for you and create a legal document as well. Plus you’ll be able to manage it on the platform once it’s agreed to and eSigned.

 

  1. Set up a Formal Payment Arrangement

Let’s face it, it’ll be easier for the borrower to make a late payment or even miss a payment to you than to a commercial lender. Be sure to include details of payments due dates, fees and how payments will be made (bank transfer, cash etc.). With Credi, you will be notified of upcoming repayments and the borrower will also receive reminders of late payments. The platform also allows you to label each repayment as cleared, forgiven, overdue or paid. This helps both parties track repayments, in turn helping to prevent disagreements on the when payments were made and the remaining amount owed.

Lending money to friends and family members who can’t get a loan from a traditional lender always has its risks. However, if the right precautions and steps are taken you can avoid hurting feelings and ruining relationships. Always be clear when writing up the agreement and voice your expectations.

Be sure to open your free account with Credi and create your loan made with family or friends. Our platform will take away the stress and worry of lending informally. Credi helps structure a custom loan, put it in writing, and manage & track the loan from start to finish.

 

Credit: Gerri Detweller

Source: www.credit.com/

 

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.
,

Credi’s new records in September 2017

new records in September 2017

Credi the relationship lending platform powering “the Bank of Mum and Dad” has set new records in September 2017. The platform has seen an increase in users and is now expanding internationally.

This September 2017 saw $31, 373, 502 million loans formalised and managed on the platform. With $10,053,386 million of these being active/live on our platform – seeing a 4.9% increase from last month.

The platform reached 1454 users on the platform. Overall seeing a 17.4% increase from last months user statistics.

Keep an eye out for more to come and next months statistics.

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.
,

DailyFintech Announces – Credi Starts Exporting to the World

Daily Fintech

Daily Fintech.com last week announced Credi’s roll out to the world. Along with another lending platform, Daily Fintech shared both companies goal to launch in New Zealand this coming month.

The fintech news publication shared with its followers the unique idea behind Credi. Not lending money directly, however, formalising and managing loan agreements between family and friends.

DailyFintech goes on to highlight Credi’s goal at the very start to understand the market dynamics by commissioning a report by RMIT University in Melbourne. The results were interesting, to say the least, and has helped Credi find it’s niche. In turn, helping their platform manage $32 million of loans to this day.

The article then summarises Credi’s niche in helping formalise and manage inter-generational wealth transfers and family/relationship lending.

Read the article in full by clicking below

Credit: Jessica Ellerm

Source: dailyfintech.com/

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.

Australia’s Bank of Mum and Dad Now 5th Biggest Lender

Australian financial advisor platform, Mozo, has found young first home buyers turning to their parents for help, resulted in the ‘bank of mum and dad’ becoming Australia’s 5th biggest lender.

With property prices increasing and income growth lagging behind, millennials are finding it harder and harder to get onto the property ladder. Mozo’s Kirsty Lamont highlights that this issue has led to the rise of parents lending to their children, whether it be for a deposit or home loan repayments.

This can be seen through Moz’s research, showing that in 1986, the average price of a property was $76,278, which was the equivalent of 4.4 times the average income of $17,321 per year. In 2016, the average house price rose to $547,714, which was 6.9 times the average annual income of $78,832.

Mozo further highlights that ‘the bank of mum and dad’ in Australia has lent $65.3 billion to young home buyers annually. With 29% of parents in Australia assisting their children in purchasing a property. Overall 67% of those parents that do lend to their children don’t expect to be repaid.

Mozo then highlights through analytics the contribution family lending has on the market.

Read the article in full by clicking the link below.

Credit: Kelly Emmerton

Source: www.mozo.com.au/

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.
,

Banking Day Spreads the Word of Credi’s International Rollout!

banking

The banking and finance online news publication, Banking Day, heard of Credi’s international launch and has shared the story with their subscribers.

Banking day highlights the international launch of Credi and our first move in expanding to Australia’s next door neighbour, New Zealand.

They further paint the picture of Credi’s exponential adoption rates and success in helping to facilitate loans. Mentioning the significant increase of $5 million in loans on the platform within a month.

Banking Day summarises by adding Credi’s new development in hiring former corporate and commercial banker, Lara Dowdall. The ex-Bankwest, Westpac and Bendigo Bank employee with be coming on as Credi’s new Chief Operations Officer.

Read in full by signing up for your FREE trial today.

Credit: The Staff at Banking Day

Source: www.bankingday.com/

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.

‘The bank of Mum and Dad’ dominating the lending market in Australia – AFR

AFR

Jennifer Hewett of the Australian Financial Review (AFR) reports on the 5th largest lender in Australia, lending around $65.3 billion – ‘the bank of mum and dad’. Hewett highlights statistics from a survey completed by Australian financial advisor platform, Mozo, which included 1,000 Australian applicants.

Mozo found 30% of parents (the equivalent to 1 million families), help their children buy their first home by lending them on average, more than $64,000. With a significant 2/3 saying they don’t expect to be repaid.

As per 43% of those surveyed, the most popular method of support, which is not on offer by other banks and is unique to ‘the bank of mum and dad’, is living at home rent-free. Most commonly, these children do so while they save for a home deposit, however, it may be their parents loosing out with the surveyed parents saying this arrangement is worth an estimated $25,000.

However, directly assisting with their child’s home deposit still remains to be the most popular form of assistance for ‘the bank of mum and dad’, with 41% choosing to do so.

Hewett further goes on to highlight the details highlighted by Mozo when funding a home deposit. Identifying $42,343 as the average amount parents lend. With each state on average lending varying amounts, with NSW lending the most, which is $53,000.

Furthermore, Mozo estimates on average parents in NSW lend an estimated $88,250 per family and parents in VIC $63,000.

Hewett puts it into perspective by highlighting in 1986, on average Australians paid $76,278 for a house, which was the equal to 4.4 times their annual income of $17,321. However, in 2016, the average house price rose to $547,714, equivalent to 6.9 times the average income ($78,832).

Finally, Jennifer Hewett sums it up for the big brother banks of Australia. Offering various pieces of advice to better serve their customers and be proactive. Because after all “removing ATM fees is a classic case of too little too late.” With Treasurer, Scott Morrison also affirming banks should be looking to reduce credit cards fees.

Subscribe to Australian Financial Review to access the article in Full!

Credit: Jennifer Hewett

Source: www.afr.com/

 

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.
,

Relationship Lending Fintech Platform Goes Global – Finder.com.au

finder.com.au

Elizabeth Barry from Finder.com.au writes of Credi’s significant growth and expansion in ONLY 5 months, by announcing their up-and-coming international launch to New Zealand.

The month of September has been a significant month in terms of milestones for Credi, the Perth fintech company. With the announcement of their international rollout, people in New Zealand and soon the United Kingdom and the United States will have access to the platform. Look out New Zealanders, you’ll have access to the platform on the 23rd of October.

Since their launch in April of this year, Credi has 1300 users on the platform who have lent or borrowed $32 million from family, friends, and colleagues.

Tim Dean, the founder, and CEO of Credi talks of the company’s excitement to go global.

“The product works in multiple jurisdictions. Given that we’re not a lender, we’re a software company, we can facilitate software-based transactions in a number of territories. We had always planned to go to New Zealand next due to proximity and similarity in terms of market profile,” he said.

Credi also hopes rollout their first television campaign in Australia and New Zealand in mid-October. Having grown and expanded with no current commercial marketing, CEO Tim Dean is hoping for a greater response from both lender and borrower.

“Currently, Credi is lender centric, with a 60/40 split between lenders and borrowers using the platform,” he said.

“However, we expect that some stage in the future there will be an equalisation between borrowers and lenders. For example, a millennial might go to a parent with a problem but with Credi, they go with a problem and a plan with the platform to help solve that.”

With university fees on the rise and the crisis of housing affordability, Credi can be the next big step to help millennials ask for help from ‘the bank of mum and dad’ without the risk of ruining their relationship. Credi.com offers people a simple, organised way to manage and formalise a loan between family and friends. What once was based on a handshake and

Credi.com offers people a simple, organised way to manage and formalise a loan between family and friends. What once was based on a handshake and trust can now be safeguarded with Credi. What once was based on a handshake and trust can now be safeguarded with Credi.

Read the article in full here!

Credit: Elizabeth Barry

Source: www.finder.com.au

 

https://dashboard.credi.com/#/signup?ref=cpw-blog

 

Credi Pty Ltd (Credi) is not a bank or a financial lender. Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves. Credi does not provide advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.  The use of the Credi platform is governed by Credi’s Terms of Use.

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.