Finance is Rigid, Inflexible, and Not Keeping Up
If there’s one Australian industry that urgently needs re-invention, finance would have to be close to the top of the list. It often feels as if not a lot has changed since the first bank opened its doors here in 1817 (it was the Bank of New South Wales). It’s ripe for disruption.
Consumers: Lending is Rigid, Inflexible, and Boring
"How we live and how we work are changing fast. But lending hasn't kept up, and it’s cramping our lives and holding us back."
The classic 9-to-5 full-time job is becoming rarer and rarer. Flexible work, contracting, running a small business, working part-time to care for a family member – all these circumstances mean that many – most? – of us can't access the finance we need at a fair rate. Why, given all the technology we have today can’t lending be easier?
Businesses: Commercial Financial Services aren’t Keeping Up
“Our business operates in the world of 2017, so why does commercial financial services still operate like its 1817? Finding new growth is hard enough. Let’s grow the economy by reinventing this stuff.”
Just as startups have re-invented how businesses operate with new, agile services in all areas of 24x7x365 operations – from accounting to payroll, from how we book travel to how we book meeting rooms – we also need startups to reinvent the finance ecosystem, we need a better ‘operating system’ for commercial finance.
It’s time to Free Money.
From rigid and outdated 19th century thinking. Let’s make finance more accessible, easier to use, and more agile.
Let’s make it so that money helps us power our lives and businesses, and not the other way around.
Calling Founders or Startups Looking to Disrupt Finance!
Much more than just ‘fintech’, you have an idea that could fundamentally transform how both consumer and business transactions work to meet the needs of 2020 and beyond.
Matt Symons co-founded peer-to-peer lender SocietyOne and was CEO in its startup-phase. Today, Matt is SocietyOne's Chief Innovation Officer, and a Non-Executive Director.
Mario Rehayem is the Managing Director, Australian Mortgages and Personal Loans at Pepper where he is responsible for the strategy and day to day management of all residential mortgage and unsecured personal lending in Australia.
Dr Olga Oleinkova is the Co-Founder & CEO at Persollo, the world’s fastest one-step checkout with the highest conversion rate. Persollo enables brands and retailers to streamline their transactions over any social media/ ad-promo/ catalogue/ digital magazine/ video/ blog and through influencers.
Tom Dawkins is the co/founder of crowdfunding platform StartSomeGood, giving circle app Good Mob, Australian Changemakers Festival, Vibewire Youth Inc and the Black Rock City Farmers Market, and first Social Media Director at Ashoka: Innovators for the Public.
Dr Matthew Tinker is the Head of Innovation at Pepper Group, a diverse global financial services organisation. Matthew leads the overall innovation programme and strategy focused on understanding and meeting unmet customer needs.