Australia: RateSetter teams up with Finsure

Under the newly formed partnership between peer to peer (P2P) lender Ratesetter and aggregators Finsure and LoanKit, from May 2018 more than 1400 accredited brokers will be able to directly offer their clients RateSetters personal loan products.

The partnership is motivated by Ratesetter desire to expand its consumer lending presence and create value for customers through collaboration with brokers and aggregators, with similar partnership predicted to be on the horizon.

CEO of Ratesetter, Daniel Foggo believes that the partnership is mutually beneficial with Finsure and LoanKit brokers being provided with new avenues to assists clients in the consumer lending market beyond their traditional offerings; “By offering brokers highly competitive rates, a simple, flexible product and excellent support, we will give borrowers a better deal and help brokers grow their businesses.”

Among other motivations, RateSetters low-rate loans will arm brokers with new products to assist clients with consolidating debt, purchasing a car or making home improvements. According to RFi data from March 2018, these are the reason 3 in 5 personal loans are taken out.

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