Aussie fintech launches first auction-style platform for loans

Aussie fintech launches first auction-style platform for loans

Lodex, a Sydney-based financial services company, has launched the “world’s first auction-style platform” for loans and deposits. According to Michael Phillipou and Bill Kalpouzanis, co-founders and co-CEOs of Lodex, this platform enables consumers to tender their home loan requests to both brokers and lenders. Users can also set up auctions for their car loans and personal loans (with deposit and savings accounts, as well as credit cards and short-term loans slated to be offered in the near future). Potential borrowers have to complete an anonymous profile, which outlines their lending requirements. Their credit scores (via Experian) and social scores […]

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