Lendi named one of Australias most innovative companies
Home loan platform Lendi has been recognised as one of Australia and New Zealand’s best innovators in the 2020 AFR BOSS Most Innovative Companies List.
The list, now in its ninth year, is comprised of groups selected through a rigorous assessment process conducted by an external organisation which analyses top innovation implemented in the past two years, in conjunction with a panel of industry expert judges.
Lendi co-founder and CEO David Hyman said the group is thrilled to have been recognised for its Approval Confidence technology which was crafted to address the “lack of transparency in the home loan market” by providing customers a real-time indication of the likelihood of loan approval.
After inputting their information, borrowers are given a rating of either ‘standard’ or ‘high’ – without it impacting their credit store; the service is intended to bring a level of reassurance to consumers due to its tailored nature as compared to the many more general comparison sites.
“At Lendi, our mission to change the way Australians get home loans and Approval Confidence is one example of how we are using technology to deliver innovations that better serve the interests, needs and convenience of our customers,” Hyman said.
The group’s Approval Confidence technology has been integrated between the Lendi platform and the back-end decision engines of some of Australia’s biggest banks and lenders.
The judges for the AFR BOSS Most Innovative Companies List considered the importance of the problem each groups’ innovation looks to solve, the quality and uniqueness of the solution, and the level of impact the innovation has had. Additionally, internal elements such as innovation culture, strategy, resources and process were also taken into account, all of which demonstrate a sustainable and repeatable approach to innovation.
In its 2020 iteration, Lendi has been ranked tenth on the Banking, Superannuation and Financial Services list from over 600 nominated organisations across Australia and New Zealand.