Business
SocietyOne follows Afterpay onto Westpac 10X platform – The Australian Financial Review
Westpac-backed lender SocietyOne is considering offering mortgages using the banking-as-a-service platform, showing a strategy diverging from Commonwealth Bank.
SocietyOne, one of the original fintech start-ups that venture capital fund Reinventure Group invested in back in 2014, is expected to pursue an ASX listing this year. Its shareholders include News Corp, Seven West Media, Australian Capital Equity and Consolidated Press Holdings, which have been helping drive customers to its website.
It has originated more than $1 billion in loans and has 75,000 customers, but more than half of the 80,000 customers that hit its website each month are seeking mortgage…
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