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


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




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




Credi’s #WhatTheLoan – To Help Pay for Bills

Another week has gone by and another #WhatTheLoan has arrived. This week a Credi user built a loan is to “help pay for bills.”

pay for bills





Relationship Lending Fintech Platform Goes Global –

Elizabeth Barry from 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. offers people a simple, organised way to manage and formalise a loan between family and friends. What once was based on a handshake and 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


50% of graduates continue to rely on the Bank of Mom and Dad

graduates rely on bank of mum and dad

These days parents are finding that the nudge to encourage their children to achieve financial independence is turning into a firm push – even if they are graduates and have acquired a full-time job.

The Arizona Pathways to Life Success study of 1,000 young adults (who were participants of the University of Arizona) found that 50% of graduates between the ages of 23 and 26 continued to financially rely on their families.

With the unemployment having risen, it’s no surprise many recent graduates were seeking financial support. In April, the rate of unemployment between 20 and 24 was 10.6 and for those between the ages of 25 and 34, it was 6.6. These rates were higher than the overall unemployment rate which was 5.8!

The Arizona study further found that of those graduates that were employed full-time, 48.9% were still getting financial aid from the families.

Certified financial planner Sheryl Garrett of her own company Garrett Planning Network further goes on to discuss whether parents are actually helping their children and or enabling them.

Read the article in full by clicking below.

Credit: Kelli B Grant






Credi – Begins International Rollout – First Stop New Zealand

international rollout
  • Credi to go live in New Zealand on 23 October 2017
  • $35 million loans & almost 2,000 accounts since launch
  • Lara Dowdall appointed as Chief Operations Officer, Asia & Pacific
  • Andrew Chick, former CEO of The Royal Bank of Scotland, Australia & New Zealand, appointed to Advisory Board

Credi Pty Ltd (“Credi”), the disruptive Australian FinTech, is pleased to announce that following the exponential platform growth in loans and accounts created since the Company’s launch in April 2017, Credi has begun its international rollout with the key appointments to the Management and Advisory Boards and Credi confirmed to be in New Zealand confirmed to be officially launched on 23 October 2017.

Business Update

Since the platform’s launch in April 2017, Credi has seen almost 2,000 accounts created by Australian’s and documented $35 million loans. This is an increase of approximately $5 million loans and 700 users in just one month since August 2017.

New Zealand Launch

Credi soft-launched in New Zealand in September with the official go-live date set for 23 October 2017.

This launch into the New Zealand market marks Credi’s first step in its planned global rollout, with the UK slated for November 2017, and the US pilot set for early in 2018.

The official launch date in New Zealand will coincide with the launch of Credi’s television campaigns in both Australia and New Zealand – together with co-ordinated social media exposure and public relations coverage.

Chief Operating Officer, Asia & Pacific Appointment

Credi is pleased to announce the appointment of Lara Dowdall to Chief Operations Officer Asia & Pacific, with the appointment to being on Thursday, 12 October 2017.

Lara commenced her career in Banking in 2009 with Bankwest and then moved to Corporate and Commercial roles with Westpac/St George. As Commercial Business Development Manager in NSW, Lara returned to WA to join Bendigo Bank. Lara is experienced in leading teams in operational change and business improvement initiatives, resulting in streamlined system optimisation and change management.

Lara brings a track record of leadership, management and vision, to effectively grow a sustainable organisation. Her steadfast pursuit of excellence will be used to develop corporate and industry partnerships in Australia and internationally.

Having experienced first-hand the friction between finance and family, Lara is looking forward to offering a genuine alternative with Credi.

Advisory Board Appointment

Credi is pleased to announce that Andrew Chick has joined Credi’s Advisory Board.

Previously a lawyer with Ashurst, Andrew led The Royal Bank of Scotland’s Australia and New Zealand business as CEO. He has also served on the NatWest Markets Advisory Board and is currently a Councillor at the Australian British Chamber of Commerce and Chairman of the British Australian FinTech Forum.

Andrew will support the board and leadership group with his insights and work with international Fintechs and across the banking and finance community.

About Credi

Credi Pty Ltd is a financial technology business, not a marketplace lender. Credi’s mission is to change the way people lend money. Credi wants to empower people to help each other and take control of their financial relationships without creating friction or stress.

Learn more at





Credi’s first blog series – 10 blogs over 10 weeks

credi's blog series, the relationship lending platform brings you its first blog series! With the help of some very talented University of Notre Dame students, Credi will be delivering you 10 weeks of 10 fantastic blogs.

Share their stories, join in their journies, test their tips and overall experience lending from another perspective.

View our current blogs HERE and keep an eye out for more to come!



Credi’s #WhatTheLoan – To Pay for School Fees

We all lend to family and friends in need. Do you have any loan stories to share? #WhatTheLoan is back again! On Credi’s platform, we had a lender help pay for school fees.

pay for school fees



Forming loan agreements with family members and friends

loan agreements

Loan agreements become tricky when it involves lending or borrowing from family or friends. We would all like to help out the people we love in their times of need but sometimes the risk of losing the money AND the relationship stand in our way. outlines important factors to consider when lending borrowing from family or friends. Statistics from the Federal Reserve Board Survey of Consumer Finances highlighted that overall $89 billion is loaned between family and friends each year in the United States.

Loans between family and friends is a popular way of receiving financial support. This form of lender also offers lower interest rates and usually the exact amount that is needed. However, one unfortunate aspect when borrowing from loved ones is that your relationship is on the line and can potentially be damaged.

That is why suggests you protect those relationships and build on that trust by forming a long contract. Regardless of your relationship with the other party, this contract will help protect both parties in the case of a disagreement. also believes that that fact of whether you know the other party or not doesn’t matter. Lending or borrowing money entails obligations and responsibilities and both parties should be accountable.

That’s where can help these two friends of family members. Our platform helps form an agreement for people by people, not by institutions for people. Credi helps safeguard trust that you share with your friend or family member. Our platform helps protect your relationship and helps you get on with life.

Read the article in full by clicking below!

Credit: Bill Fay




Loans from the bank of Mum and Dad cause financial strain

financial strain

The Canberra Times found that first home buyers who receive loans from their parents are more likely to encounter financial strain later down the track.

The Reserve Bank Australia’s (RBA) economic research department, along with figures gathered from the Household, Income and Labour Dynamics (HILDA) survey of 17,000 Australians, found that a significant 30% of first home buyers who sought help from their parents for a deposit would later encounter financial stress.

Of that 30%, 2/3 would later ask for further support from their family members and friends, two times greater than the number of those who funded their own home deposit themselves.

RBA also highlights that 15 % of these adults who receive help from the bank of mum and dad also struggle to cover utility bills compared to the 10% who independently paid their deposit.

The results highlighted by the Canberra Times in their article showed the significant number of adults turning to their parents for help. The RBA states “parents willing and able to help their children are likely to continue to do so throughout their life.”

However, these results also show that these first home buyers become far more likely to encounter further financial strain later down the track.

Read The Canberra Times article here!

Credit: Eryk Bagshaw