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Tim K. Dean
Credi Founder

Commentator & Expert

Family Lending | Bank of Mum & Dad | Neo-Credit Scores

Tim K. Dean is a leading expert and commentator in the field of friends & family lending, the Bank of Mum and Dad and neo-credit scores. Tim is the founder and CEO of lending platform Credi and board member of FinTech Australia.

Media inquiries? Talk to us at press@credi.com

Tim K. Dean
Credi Founder

Commentator & Expert

Family Lending | Bank of Mum & Dad | Neo-Credit Scores

Tim K. Dean is the leading expert and commentator in the field of friends & family lending, the Bank of Mum and Dad and neo-credit scores. Tim is the founder and CEO of lending platform Credi and board member of FinTech Australia.

Credi aims to help formalise the large swathes of informal loans happening globally, according to RMIT University, the ‘Informal bank of Mum and Dad’ (and family and friends) is the fifth largest lending institution in Australia, lending over $65 billion. Until Credi, there has been no affordable or easy way to formalise these informal loans. Founded in 2017 by Tim K. Dean, the fintech has developed as a leading lending platform that effectuates this unregulated market, designed to create, manage and automate personal lending.

Tim has been extensively featured and quoted as a go-to expert on these topics in publications such as the Sydney Morning Herald, the Australian Financial Review, EY’s FinTech Census, the London Times, SmartCompany, Australian FinTech, CPA’s In The Black magazine, the New Zealand Herald, Startup Daily, Startup News, Mortgage Business, Techboard, Stockhead, Finder, Broker News, Wealthness blog, and Scoop Business, among many others.

With his expertise and comprehensive experience, Tim K. Dean is also an in-demand speaker, delivering talks and live interviews at Accounttech live events, Channel 9 News, ABC News, Talking Business, and Sky News. Currently available for media interviews and appearances | timkdean@credi.com

Tim K. Dean has been extensively featured and quoted as a go-to expert on these topics in publications such as the Sydney Morning Herald, the Australian Financial Review, EY’s FinTech Census, the London Times, SmartCompany, Australian FinTech, CPA’s In The Black magazine, the New Zealand Herald, Startup Daily, Startup News, Mortgage Business, Techboard, Stockhead, Finder, Broker News, Wealthness blog, and Scoop Business, among many others.

With his expertise and comprehensive experience, Tim is also an in-demand speaker, delivering talks and live interviews at Accounttech live events, on Channel 9 News, ABC News, Talking Business, and Sky News. Currently available for media interviews and appearances | timkdean@credi.com

Tim & Credi in the Media

Neo-credit scores & lending

How relationship lending is evolving, Breaking Banks Podcast Jan 2020 .

Tim discusses the factors driving a big shift in how people lend & borrow with Brett King host of BreakingBanks.com:

“The open banking movement that is gathering pace around the word has presented the opportunity for a lender to get a full picture of a borrowers financial activity both formal & informal and Credi will be a key play in providing the data on the informal part..” 

Poor financial literacy continues to leave consumers vulnerable, Sydney Morning Herald, 2019.

Tim discusses financial literacy and credit problems with John Collet of the SMH:

“[Tim Dean] is planning to launch a debit card by the middle of the year that allows parents to lend to their adult children, so they avoid excessive fees and damaging their chances of getting a home loan, if their bank statements show they have paid late fees with “buy now, pay later”, apps such as Afterpay.”

 

Fintech overload: Deciphering the lending landscape, Sydney Morning Herald, 2019.

Tim talks with Emma Koehn about Australia’s lending landscape and it’s impact on startups:

“Tim Dean believes the small business credit crunch is leaving more entrepreneurs knocking on the doors of their family members.”

“A startup is a vulnerable piece, it’s embryonic. Interest rates can be 20 per cent or more, while the bank of mum and dad could be at 2 to 3 per cent,” the founder of fintech Credi says.

Family lending, bank of ‘Mum and Dad’

How low official interest rates are impacting family finances & the Bank of Mum & Dad – TickerTV.com.au Oct 2019

Tim  talks with Ahron Young (former Sky News bureau chief) 

 

Credi lets family and friends document loans to protect cash and relationships, Sydney Morning Herald, 2017.

Tim quoted in SMH on the importance of protecting and educating in relationships when money is involved:

“We want to educate them about money and meeting their obligations but we probably want to let them off [repayments of the loan] after they have shown you that they are taking their financial responsibilities seriously,” Dean says.

 

New Online Tool on way to Manage Loans Between Friends and Family, NZ Herald, 2017.

NZ Herald feature about Credi and Tim Dean:

“Credi chief executive Tim Dean, a former university economist who has also worked in accountancy and online digital finance, said New Zealand was attractive because of its proximity, and because “the need [for the service] is just as great”, citing publicised falling outs between families over informally-agreed loans.”

 

Perth Fintech Credi Formalises Loans among Family and Friends to Reduce Friction, Startup Daily, 2017.

Startup Daily interviews Tim Dean about documentation in familial loans:

“We want to take the pressure off families by turning informal agreements into credible, manageable and formal ones by keeping properly completed documentation in a single place as well as looking after repayment schedules and reminders.”

 

Loan management platform ‘empowers bank of mum & dad’, Mortgage Business, 2017.

Tim Dean talks about unregulated loans with Mortgage Business:

“Speaking to Mortgage Business earlier this year, Tim Dean, CEO of Credi, said that the platform was launched after finding that Australians lend in excess of $1.65 billion to each other each year in unprotected, informal loans, a third of which comprises loans for first home buyers.”

 

Protect yourself when lending money to family, In The Black, 2018.

Credi provides simple insurance against simple things going wrong with family lending:

“Tim Dean, founder of cloud-based loan documentation service Credi, believes a simple paperwork process, which keeps both parties on their toes, is the answer. The idea of going to a lawyer to draw up an agreement would not excite most parties, Dean says, and yet documentation will remove that uneasy conversation about last month’s missing repayment.”

 

Tim Dean Interviewed on 9 News, 2018.

Finance Technology expert Tim Dean talking with 9 News about the bank of Mum and Dad, and how to avoid things going wrong.

Tim Dean interviewed Ticky Fullerton on Sky Business News, 2017.

Tim Dean notes that the statistics have told us that the ‘bank of mum and dad’ is the eighth largest financial institution in the UK. award winning journalist 

Family lending, bank of ‘Mum and Dad’

How low official interest rates are impacting family finances & the Bank of Mum & Dad – TickerTV.com.au Oct 2019

Tim  talks with Ahron Young (former Sky News bureau chief) 

 

Credi lets family and friends document loans to protect cash and relationships, Sydney Morning Herald, 2017.

Tim quoted in SMH on the importance of protecting and educating in relationships when money is involved:

“We want to educate them about money and meeting their obligations but we probably want to let them off [repayments of the loan] after they have shown you that they are taking their financial responsibilities seriously,” Dean says.

 

New Online Tool on way to Manage Loans Between Friends and Family, NZ Herald, 2017.

NZ Herald feature about Credi and Tim Dean:

“Credi chief executive Tim Dean, a former university economist who has also worked in accountancy and online digital finance, said New Zealand was attractive because of its proximity, and because “the need [for the service] is just as great”, citing publicised falling outs between families over informally-agreed loans.”

 

Perth Fintech Credi Formalises Loans among Family and Friends to Reduce Friction, Startup Daily, 2017.

Startup Daily interviews Tim Dean about documentation in familial loans:

“We want to take the pressure off families by turning informal agreements into credible, manageable and formal ones by keeping properly completed documentation in a single place as well as looking after repayment schedules and reminders.”

 

Loan management platform ‘empowers bank of mum & dad’, Mortgage Business, 2017.

Tim Dean talks about unregulated loans with Mortgage Business:

“Speaking to Mortgage Business earlier this year, Tim Dean, CEO of Credi, said that the platform was launched after finding that Australians lend in excess of $1.65 billion to each other each year in unprotected, informal loans, a third of which comprises loans for first home buyers.”

 

Protect yourself when lending money to family, In The Black, 2018.

Credi provides simple insurance against simple things going wrong with family lending:

“Tim Dean, founder of cloud-based loan documentation service Credi, believes a simple paperwork process, which keeps both parties on their toes, is the answer. The idea of going to a lawyer to draw up an agreement would not excite most parties, Dean says, and yet documentation will remove that uneasy conversation about last month’s missing repayment.”

 

Tim Dean Interviewed on 9 News, 2018.

Finance Technology expert Tim Dean talking with 9 News about the bank of Mum and Dad, and how to avoid things going wrong.

Tim Dean interviewed Ticky Fullerton on Sky Business News, 2017.

Tim Dean notes that the statistics have told us that the ‘bank of mum and dad’ is the eighth largest financial institution in the UK. award winning journalist 

Fintech in Australia

EY Fintech Australia Census, 2018.

Tim Dean quoted in the Fintech Australia Census discussing tax trends and startup industry:

“It is no surprise that R&D Tax tops the list again as it provides vital support for our growing industry. What we want to see in the coming 12 months is further action to address the issues already raised by start-ups.”

 

Credi in top 10 for the Techboard 2017 national awards.

Credi achieves a top 10 place in the 2017 Techboard national awards.

 

Here are the top 10 trending startups coming out of Western Australia, Smart Company, 2017.

Smart Company published Credi as top in list of trending WA startups:

“Credi is a platform to allow family and friends to establish simple loans between themselves, aiming to take away some of the most difficult aspects of relationship and personal loans by creating digitally signable legally binding contracts.”

 

Finding Fintech’s Feet, Startup News, 2018.

Tim Dean takes a place on the Fintech Australia board in 2018:

“Tim Dean, founder and CEO of relationship-based lending app Credi, will join the board of Fintech Australia following CrowdfundUP founder Jack Quigley’s departure…’[I’ll] be meeting in August [with the CEO of Fintech Australia] to nut out a whole bunch of initiatives that bring fintech in Western Australia into the fold on a more inclusive basis, but also … to develop some initiatives that give fintech WA its own identity,’ he said.”