This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
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1. THE BEGINNING
This innovation initially came to life when…
…founders, David, Sebastian, Martin and Mark, were purchasing their own homes. They were met with a process was unnecessarily complicated and stressful. They couldn’t understand why home owners must go through such a convoluted process. So instead, they came up with an idea that could save others a lot of hassle.
They put their heads together over many late nights to create Australia’s first online home loan platform. They developed an easy online application process that, when paired with helpful advice from experts, meant that Australians now had a faster and simpler way of getting a home loan.
2. WHAT & HOW
The purpose of this innovation is to…
…make the home loan process easier. The platform allows customers to get a better home loan and apply, get approved and settle their loans online. That means, no paperwork, no trips to the bank and a lot of saved time.
It does this by…
…using smart technology to match customers with the best loan options available to them based on their specific requirements. Lendi’s revolutionary platform then allows customers to apply for a home loan and securely upload and verify all of their essential documents online. Customers can also check their loan’s status 24/7 using the platform.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
…it makes getting a home loan so much easier and faster. In the past, customers needed to get time off work to visit the bank and then spend hours filling out pages of paperwork before visiting the bank again. Lendi revolutionises the home loan process bringing it completely online so customers can apply in their own time.
Its various benefits to the customer/end-user include…
Convenience and time saved. The customer can go through the home loan process in their own time and they don’t need to visit the bank or spend hours filling out paperwork. The customer can check the loan’s status 24/7 online.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Nobody. All alternatives involve hard copy application forms, visiting the bank in real life, a lot of back and forth between the customer and the lender, and a lack of transparency on the loan’s status.
Its predecessors/competitors include…
All major banks and lenders as well as mortgage brokers and home loan comparison sites.
5. TARGET MARKET
It is made for…
Australians who find it tricky to visit the bank during the day and customers who prefer completing their financial transactions online, in their own time. We target anyone interested in getting a home loan. Our customers come from all walks of life.
It is available for sale through…
The web. Customers can complete their home loan online, by simply visiting www.lendi.com.au
Our marketing strategy is to…
…target all Australians with the capacity to own a property. We’re going to change the way Australians get home loans. We promote Lendi on social media, search engine marketing and through TV adverts.
FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
