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Aggregation company FAST has added SME lender Judo Bank to its panel, welcoming the lender’s agility and service proposition.
Finance & Systems Technology (FAST) has welcomed Judo Bank to its lender panel, enabling its 1,200 broker members to access the bank’s small and medium-sized loan offerings.
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The challenger bank has grown significantly in the last year, surpassing $1 billion in loan originations just nine months after receiving its banking licence.
FAST said that the addition of the SME bank reinforced the aggregator’s commitment to supporting FAST brokers to meet their business clients’ needs. The group noted that its inaugural Business Lending Index report showed that neobanks, non-banks and fintechs continue to gain market share due to their nimbleness and innovation.
“2019 played out as the year of the challenger banks, fintechs and neo-banks, who are leveraging data and technology and relationship management to meet the needs of businesses in an efficient and agile way,” FAST’s head of NSW/ACT & Queensland, Rob Ryan, stated.
“We are pleased to be supporting our brokers to access innovative lenders such as Judo Bank to cater to their SME customers.”
Mr Ryan said the neobank was a “standout when it comes to innovation and being truly agile and customer-focused”.
He added: “We are continuing to expand our lender panel to meet the diversified and specialised needs of our brokers and their clients.
“The addition of Judo Bank further enhances our brokers’ offering, as business customers increasingly demand lenders to be more agile and service-focused.”
George Obeid, Judo Bank’s managing director, third party, also commented on the partnership, stating: “Judo Bank secured their banking licence in April 2019 and has since surpassed $1 billion in lending to SME customers as well as securing $1 billion in deposits.
“This exciting partnership is further validation of our collective commitment to supporting the broker market and addressing the $93 billion funding gap for SME customers.”
