IT Brief Australia logo
Story image

Brisbane fintech launches with ambitious goals

A Brisbane-founded fintech startup has officially launched, with ambitious goals for the next two years.

Digital lending and payments provider WLTH is focused on distrupting the financial services industry in Australia, and has growth projections of $1.23 billion worth of residential and commercial loans by the end of FY22.

With a focus on technology, WLTH was designed to provide Australians with residential, SMSF and commercial lending solutions, with further plans to enter into the digital payments sector in 2021.

WLTH enters the market with a launch offer variable loan product for owner occupied residential properties with a interest rate of 2.09% (comparison rate of 2.15%) for new purchases and refinances. As with any loan provider, it is advised to do your own research into loan repayments and fees.

The company's flagship Lending Loop platform, WLTH's first launch, takes customers through a five-step digital application process to apply for a property loan or to refinance an existing loan.

Australians can apply for loans online, as well as gain access to dedicated lending specialists and/or business support managers, the company states.

Founded in Brisbane in 2019 by serial entrepreneurs Brodie Haupt, Drew Haupt, Darren Hodgkin and John Kerr, WLTH will bring to market a suite of tech-centric products, including commercial and residential lending, transactional accounts, a payments app, a loyalty system and a pipeline, and further fintech solutions.

Co-founder of WLTH, Brodie Haupt says the company was born out of a need to create improved financial experiences, which had been long dominated by slow-moving banks and business systems.

He says, “For too long Australians have had to jump through hoops in order to secure a loan, whether it be for personal or business purposes.

"With tenuous paper centric application processes and a lack of user-friendly tech products to manage and interact with their financial institution, we strongly believe WLTH is in a unique position to bring an improved and higher value experience to market.

“For this reason, we dont call ourselves a bank. Our competitive differentiation lies in being able to provide financial services that meet the needs of Australians, without the bureaucracy, limitations and legacy systems of the Big 4.”

He says, “To simplify the process, WLTH is invested in the acquisition and development of our own native technology solutions to ensure the company continuously brings world-class fintech solutions to Australians.”

Gleeson Quantity Surveyors managing director Zac Gleeson commented on the announcement.

He says, “It was great to be involved in the beta testing round prior to WLTH's official launch. We found that WLTH's lending loop platform was such an efficient process, and we were excited to see the power of its technology first-hand.”

Story image
New digital conference details best practices for Microsoft 365 optimisation
In this virtual conference, leading practitioners come together to share their real-world success (and failure) stories and share their tips and tricks on optimising their Microsoft 365 and SharePoint investments.More
Story image
Telcos focus on security as new wave of 5G rolls out
Telcos are working to prioritise security measures to protect core network configuration services as the new wave of 5G networks commences.More
Story image
Dynatrace greatly expands infrastructure monitoring capabilities
The announcement means DevOps and site reliability engineering teams (SREs) will be better-placed to easily search and analyse real-time and historical logs from any source, all in a centralised location, without log-targeting or manual intervention. More
Story image
Transforming the finance department: is your enterprise trucking or trailing?
Wondering if your organisation has been as aggressive as it could be in embracing automation and adopting digital technologies? Check your progress against these benchmarks, advises BlackLine regional vice president for ANZ Claudia Pirko.More
Story image
Interview: SAS outlines the seven AI-based trends you'll see in 2021
Artificial intelligence has, let's face it, been the subject of much hype, of experimentation, and in some cases, pipe dreams.More
Story image
Developing digital skills in the hybrid workplace
47% of Australians miss feeling empathy from and for others because of the increase in digital interactions, with a similar proportion longing for small talk, humour, physical interactions and the ability to be honest.More