The Bank of Mum and Dad revealed as one of Australia’s largest and most trusting financial institutions, but at what cost?

The generosity of individuals lending money to their children to support them getting their first home or running a small business can be a recipe for disaster without the right protection and documentation in place.

More people than ever are leaning on their parents for support getting in to their first home or starting a new business.

A recent report showed the Bank of Mum and Dad is the 10th largest lender in the country, and funding over $20 Billion in loans.

An article released this week in the Australian Financial Review revealed that the Bank of Mum and Dad is responsible for 25% of SME loans.

Read more


Credi’s Tim Dean joins Fintech Australia board

Stone & Chalk head to lead FinTech Australia board

The not-for-profit organisation representing Australian fintechs has elected Alan Tsen as chair of the board.

Mr Tsen, who leads fintech co-working community Stone & Chalk Melbourne, replaces the retiring chair, MoneyPlace CEO Stuart Stoyan, who had taken on the role at the start of the year following the departure of FinTech Australia founder Simon Cant.

Along with Mr Stoyan, FinTech Australia said that Natalie Dinsdale, Lucy Lui and Jack Quigley are also departing.

The board of directors now include Mr Tsen, Tim Dean, Emma Weston, Luke Howes, Paul King, Melissa Mack, Niels Maartens, Lauren Capelin and Carla Harris.

The lobby group claims that, with a ratio of four women to five men on the board, it has “exceeded” its gender diversity requirements.

FinTech Australia last month announced the appointment of Uber’s former head of public policy and government relations, Brad Kitschke, who replaced Danielle Szetho.

At the time, the organisation said that one of Mr Kitschke’s priorities as CEO will be to drive FinTech Australia’s advocacy to introduce an open banking regime, which will require banks to provide customers and third parties with access to customer data where permitted.

The new CEO also said in May that he will be promoting the nation’s fintechs, which have grown from 100 companies in 2014 to nearly 700 by the middle of 2017, as “genuine” alternatives to major industry players, especially after damning revelations of inappropriate conduct during the financial services royal commission.




Credi Corporate Presentation

We would like to share Credi’s latest corporate presentation which as well as being the latest snapshot on Credi, highlights where we see the next six months key activities.

The next 6 month plan

  • Onboard over 50 Partners
  • Complete the  integration with Jobhack –  delivering Credi to an additional 40,000 users in 187 countries
  • Launch Credi in hundreds of schools with the Kidpreneur Challenge   – accessing thousands of Australia households partnering with Australians leading Edtech company delivering the only curriculum based entrepreneur  education program, including Credi as a core component to the course.
  • Grow our Tekkon Tech Group to over 20 developers
  • Establish an ” on the ground ” presence in the UK

Establishing loan agreements between friends or family?

Credi is an efficient, cost-effective means of formalising loan agreements between family members, friends and businesses.


Credi has now launched our partner program and is accepting applications. If you are a bookkeeper, accountant or finance professional find out how Credi Partner can save your clients time and money documenting loan agreements   – find out more.

Credi Q1 Update

Hi Friends, Supporters and Stakeholder
As we near the end of calendar Q1 – I thought it would be a good time to update on progress this year at Credi.

Credi Premium

This channel represents our user base of lenders and borrowers self-serving on the Credi Platform. Its strategic importance is that delivers a predominantly lender community, who are introducing us to their professional advisors – with whom we seek to engage with or commercialisation model – Credi Partner.

Over the coming months, we will be adding a services directory facilitating the interaction between Credi users and professional advisors.

The Credi user base is now growing at the rate of 50 signed up accounts a day, and up to 15 loans – that’s almost a 20,000 account sign up annual run rate. That rate will increase in April as we commence on TV and our social media campaign/referral campaign launch.

Credi is now being used in 20 countries – paving the way for partner programs in overseas markets

• 3100 users
• 20 Countries
• 300% growth rate in customer acquisition rate in Q1 2018

Credi Partner

We are onboarding 3 partners with a target aggregated customer usage of 800 accounts – which should deliver a baseline annual revenue of $ 144,000. We have another 10 partners under discussion and our revenue pipeline should grow materially from the Accounting Expo in Sydney 21-22 March – where 7000 visitors will be in attendance. We are targeting to recruit 50 new partners to our program from this event

The loan solutions on offer will be; Basic Loan, Secured Loan.

We are also working with advisors to develop an SMSF solution and a Guarantor Loan

• Revenue generation from Credi Partner commencing
• Volume partner acquisition underway in Australia
• Loan product range expanding

Team and Resource

As a growing company, we have to recruit, retain and in some instances part company with staff as we seek the talent and resource to deliver to our vision and potential. We have re-organised our management group with our COO leaving during March. Her role will be covered internally in the meantime whilst we review the role and its intended deliverables. Pat Green CTO will be personally supervising the Credi Partner launch and integration with strategic partners – project leading the client take on and transition management to the Credi Partner platform.

We have added to our technical team with a new Head of development ( ex NAB ) , and our Credi staffed technical group in Nepal is operational with an initial three recruits. Our intention is to grow this team to 20 over the next two years, We have also recruited a Head of digital to bring in-house our digital marketing execution.

• New Head of Development
• New Head of Digital
• New technical team established to speed development rollout to our global footprint

Strategic Partnerships

Education Alliance 

Credi has entered into a binding MOU to deliver its Credi platform to approaching 10,000 Australian families each year as part of a financial education program with a leading Edtech company. This exciting opportunity will support young Australians knowledge and financial literacy – and engagement with her family members will position Credi as a solution to use in the wider context of family finance

As ever, happy to discuss and welcome inputs, feedback and of course any referrals and introductions ongoing as we continue to deliver Credi globally.

We want to talk to your accountant/ bookkeeper/advisor.We will reward any introduction that leads to a successful signup and usage of Credi at a partner with a $150 bounty. Word of mouth referrals from happy users is a key component of our partner recruitment program.

Tim Dean


Make and save money by documenting a loan agreement

Credi Fairy dancing. Only fools chase the money fairy

How to make and save money documenting a related party loan

Documenting a loan agreement to a related party is crucial – so why is it so rarely done? It’s the nature of the relationship between the parties to the loan that puts this important piece of administration onto the “do it tomorrow“ list. Organising a documented loan with a friend or business partner changes the relationship from a personal to a business relationship. Then there is the prospect of seeking formal advice and negotiation which could result in disagreements and friction. It all sounds too hard; ‘we’ll be alright…right?’

Relationship loans are a huge part of the Small to Medium Enterprise (SME) landscape. Businesses borrow billions of pounds from related parties to support their ambitions, yet fail to recognise the material risk to the transaction when they remain undocumented, leaving the ambiguity of a long forgotten conversation to raise its ugly head down the track. The relationship that underpinned the loan is then threatened, and may even break.

Read more

Source: http://xumagazine.com


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February 2018

Credi, the online platform for managing a loan agreement between friends or family, has set new records in February 2018. The Credi platform has seen an increase in users managing lending agreements, and this month saw the Credi loan agreement platform reach new heights.

This February 2018 saw $55, 655, 433 AUD loan agreements formalised and managed on the platform. With $123, 815, 39 of these being active/live loan agreements on our platform.

Credi has also made significant growth in international markets with our Indian and Phillipino users topping the fastest growing international markets for the Credi loan agreement platform.

This month the Credi platform reached 2617 active users, overall seeing a 13% increase from last months user statistics.

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

It’s easier than ever to get started on a loan agreement between friends or family.

Just head to our signup page and get started. It’s free for loans under $2,000!



Credi User Stats – January 2018

Credi takes up Internationally.

In December we quietly opened up our platform to 51 countries, and organically we are seeing usage spread globally. Our strategy remains to formally establish a presence in the UK in by mid-2018, and then accelerate through partnerships and strategic alliances.

Australia is still our dominant marketplace, and with our partner program imminently launching, we are continuing a local focus – mindful of the opportunities that are presenting themselves internationally.

We welcome any opportunities to partner / collaborate – and my team or I can be reached via partners@credi.com.

Tim Dean CEO



What a great 2017!




Home loans from the Bank of Parent