New transparency push for fintech lenders

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Running Time: 9:53

Date: 01/04/2018

As small business looks beyond the banks for their finance needs, fintech lenders are stepping up to offer greater transparency about the loans they offer.

Fintechs provide only a small part of the business loans market currently. But that’s going to change as banks, increasingly, turn away from small business lending in favour of the home loan market. Problem is, in this relatively unregulated fintech world, it’s often hard to work exactly what you’re getting and how it compares. Bank Doctor Neil Slonim has long advocated for greater transparency and now he’s making progress in collaboration with ASBFEO CEO Kate Carnell and Fintech Australia.

Neil Slonim, The Bank Doctor