Q1FY19 Business Update
Trading Update Q1 2019
The quarter ended 30 September 2018 was a strong one for both Goldfields Money and Finsure with the group achieving business all-time records across all key operating metrics.
The Group's organic growth rates are materially in excess of system growth and our ASX listed peers as the Group's unique business model continues to win market share.
People, operations and risk management
- Integration plan well progressed
- Group culture audit complete
- Organisational charts and roles and responsibility matrix completed
- Rhizome Advisory appointed for CPS 220 risk management review and NOHC application
- Technology strategy and roadmap in place
- Successfully implemented first phase of digital banking system release
- Existing customer migration to new platform complete
- New mobile banking app fully operational
- Apple Pay and Android Pay live on app
- New website launched
- New managed desktop now fully functional
Brand and Sales
- Houston Group appointed for Group rebrand
- Record Q1FY19 loan settlements
- Closed Q1F19 with record 1,508 loan writers
30 June 2019 Business Targets
- Full integration of Better Choice team
- Key personnel hire including Group Chief Financial Officer, Chief Technology Officer and Chief Risk Officer
- Introduction of new white label deposit products
- Completion of off-balance sheet facility
- Company rebrand and launch of a new consumer centric product brand
- Phase 2 roll out of digital banking platform
To view tables and figures, please visit:
About Goldfields Money Ltd
Goldfields Money (ASX:GMY) is Australia's new revolutionary digital bank, distributing first class products through a largely branchless distribution network. A bank without the bank. This digital banking platform is built on the recently implemented mobile first, world class core banking system provided by Temenos and our proprietary mortgage distribution software "Loankit".
Goldfields is ASX listed (ASX:GMY) with two key divisions:
Banking (operates under "Goldfields Money" and "Better Choice" brands) - an APRA regulated bank that offers deposit and loan products that are funded either on-balance sheet or off-balance sheet through a range of third party lenders. Our deposits are all guaranteed by the Australian Government Deposit Guarantee for up to $250,000 per customer. We are the new approach to banking in Australia, we're honest, with transparent bank practices and a straightforward approach to you and your money. It's all yours, honestly.
Mortgage Aggregation (operates under "Finsure" and "Loankit" brands) - an ASIC regulated mortgage aggregation and software technology platform with over 1,475 loan writers as of 31 August 2018. Finsure puts brokers first and is a leader in the market in offering a diverse lending panel, flexible commission models, training, lead generation, proprietary SaaS and mortgage broker support services. Finsure was also recently named Aggregator of the Year for 2017 at the Australian Mortgage Awards.
Goldfields Money Ltd