Key Operating Metrics - October 2018
Key Operating Metrics - October 2018
Perth, Dec 10, 2018 AEST (ABN Newswire) - Goldfields Money Limited (ASX:GMY) ("Goldfields Money" or the "Company") is pleased to provide the following trading update and key operating metrics for the month ended 31 October 2018.

Trading Update October 2018 The month of October 2018 continued the strong performances for both Goldfields Money and Finsure, with increases across all key operating metrics, including managed loans settlements, aggregation settlements and the recruitment of loan writers.

The Company reported another particularly strong performance in the higher-margin Managed Loan Settlements division, as a result of the successful consolidation of four mortgage managers into the business over the past 24 months.

Importantly, managed loan settlements, aggregation settlements and the recruitment of loan writers are key operating metrics that drive both transactional and recurring revenue streams. Recurring revenues consist of interest, trailing commissions, management fees, transactional fees on trailing commissions, platform fees, compliance fees and software as a service subscription fees.

Managing Director, Simon Lyons, commented: "The strong performance of the business during October further demonstrates the strategic rationale for merging Goldfields Money and Finsure, creating a company with increased distribution and more diversified revenue streams."

"The businesses reached another milestone in October with book growth in managed loans to $2.533 million and an aggregation book of approximately $34 billion. Goldfields Money's banking business also contributed $6.3 million in managed loans on balance sheet over the month."

"Since the completion of the merger on 17 September 2018, the pipeline of applications has also grown significantly, which is especially encouraging. Furthermore, we continue to win market share and outperform our listed peers against a backdrop of negative credit growth."

"We have also successfully increased our deposit base to $211m, up from $195m as at June 30, and continue to successfully diversify our funding sources with our call deposits increasing to 21% up from 18% at the end of June."

"The post-merger integration is going to plan and we expect to derive more revenue synergies in the months ahead. We continue to invest in the business, particularly in building out our digital strategy and growing our own technology development team. We aim to make a senior appointment to oversee this in the months ahead." Mr Lyons concluded.

Due to the aggregation of data the timing of each monthly report will be approximately five weeks from month end i.e. November 2018 metrics will be released around the end of the first week of January 2019. The Company intends to provide this information on a monthly basis for the first half of FY19.

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.

You can read more about us at and



Investor / Media Enquiries
Simon Lyons
Executive Director & CEO
Goldfields Money
Ph: +61-8-9438-8810

Andrew Rowell
Director - Investor Relations
Cannings Purple
M: +61-400-466-226

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