AMPAC awarded collection services contract.
On 4th November 2014, Marketlend engaged AMPAC to perform collection services for any loans in default on the Marketlend platform.
A highly regarded collections agent, AMPAC debt recovery has a direct role from the point of time that the borrower makes a second debit dishonour.
The preferred agent to Euler Hermes, Marketlend’s selected insurer, AMPAC has already worked successfully with Marketlend’s parent company Tyndall Capital over the last two years.
Siblings the ideal solution for BPO services.
Marketlend has agreed in principle with Pioneer Mortgage Services to enter into a long-term contract for referral services.
Marketlend will use the Pioneer Mortgage Services brand online site to generate SME business by accessing applicants through various channels. These channels will include internet, affiliate databases, the existing customer base of Pioneer Mortgage Services and Pioneer’s broker network.
Pioneer Mortgage Services is an established Australian non-bank lender operating since 1990s and has being a mortgage manager for a number of the large financial institutions in Australia. Additionally Pioneer Mortgage Services has also been an originator and servicer of their own securitisation program.
Marketlend forms agreement with Pioneer Mortgage Services Pty Ltd to maximise SME loan origination.
Marketlend has agreed in principle with Pioneer Mortgage Services to enter into a long-term contract for referral services.
Marketlend will use the Pioneer Mortgage Services brand online site to generate SME business by accessing applicants through various channels. These channels will include internet, affiliate databases, the existing customer base of Pioneer Mortgage Services and Pioneer’s broker network.
Pioneer Mortgage Services is an established Australian non-bank lender operating since 1990s and has being a mortgage manager for a number of the large financial institutions in Australia. Additionally Pioneer Mortgage Services has also been an originator and servicer of their own securitisation program.
Marketlend platform enhanced by underwriters Jardine Lloyd Thompson(JLT).
Building on a strong 6-year relationship with JLT, Tyndall Capital has engaged the leading underwriters to add to the robust nature of the new Marketlend transaction and investment platform.
Jardine Lloyd Thompson is a leading provider of risk management and employee benefit solutions in 135 countries. It is the wholly owned subsidiary of JLT Group PLC, FTSE250 Company employing over 7,600 people worldwide.
JLT will provide insurance services, rigorous risk minimisation and backup servicing arrangements. Specifically JLT will manage the credit insurance process, effectively inputting applications into the insurer’s system and obtaining the granting of insurance.
JLT will also perform the role as coordinator of the collection process on behalf of the insurer for a number of trade receivables transactions including the Motor Trade Card program, a wholly owned subsidiary of Vacc.
Credit worthiness boosted by Creditworks Australia Pty Ltd assessment and application services.
Based on the need to ensure credit worthiness and efficiency within the Marketlend platform, Creditworks Australia has granted Market lend access to its CA edge platform. This will greatly assist with numerous aspects of credit application.
The completed credit applications will seamlessly pass through an automated credit application verification system and be managed on a credit application portal provided by Creditworks. This results in a new account application being processed in as short a time as 2 to 5 minutes, subject to the number of applicants within one application.
Leo Tyndall, Founder of Marketlend, comments:
“When considering what options were in the marketplace to ensure that we satisfactory performed all external credit checks, and had a decision automated system, Creditworks stood apart from its competitors as being the best choice.
Consistent with our goal to provide direct access to capital markets for the applicant, the ability to remove any subjectivity through automation again reiterates the objectives of Marketlend to provide the borrower direct access to the investor without all the red tape.”
Creditworks is a specialist niche services provider of innovative enterprise grade and highly customised credit risk management solutions to large Australian listed and unlisted enterprises. The company’s management has long standing experience and strong credentials in successfully building and delivering leading edge cost effective and best practice credit information services to the Australasian marketplace. Creditworks employs a highly skilled and uniquely experienced in house development team with an impressive track record in terms of building specialist high integrity and integrated qualitative & quantitative solutions and work-flows for use in comprehensive decisioning applications.
Creditworks proprietary decisioning platform engages with a number of key risk management databases on a concurrent basis including Veda Advantage; Australia’s leading credit bureau, as well as important statutory databases such as ASIC, PPSR and land titles (via the company’s own direct brokerage arrangements) so as to optimise risk management outcomes.
Marketlend’s marketplace lending platform development awarded to peer-to-peer specialists Rebuilding Society.com Ltd.
On September 15, 2014, after three months of due diligence, Marketlend awarded Rebuilding Society.Com Limited the development and hosting of Marketlend’s advanced marketplace lending platform.
The rebuildingsociety.com platform is an enterprise class peer-to-peer/crowdfunding technology solution, which uses industry proven technology. It already powers rebuildingsociety.com and other leading peer-to-peer and crowdfunding companies.
The platform is based on a popular open source content management system, a fantastic tool for maintaining a website. It is so popular that it’s currently estimated to power around 18% of the web.
The platform incorporates a variety of advanced features that make it easy and efficient to process the transactions involved in peer-to-peer lending. This includes uploading funds to the platform, placing bids on loan auctions, completing loans, calculating interest and assigning repayments to the correct lenders.
The open source technology also means Marketlend can modify things to integrate with chosen plugins specific to client wishes and operational needs.
Marketlend chooses world- leading innovator Veriluma to develop internal rating system.
Realising the need to analyse the risk of the repayment of the notes issued and secured by the underlying loan and provide a grounded basis for the rating of peer to peer/marketlending loans, Marketlend has agreed with Veriluma, to develop a system providing a rating on the loans on its platform. The rating is the expectancy of the repayment of the note issued to fund the loan. Using similar methodology as rating agencies but with predictability factors taken into account, the rating is an opinion that not only considers the past but the posssible factors in the future.
Rating Analysis
Marketlend uses a developed system between Tyndall and Veriluma that runs on a Java based solution called Intelfuze.
The system is hosted on Tyndall and Marketlend servers and Veriluma’s patented Sheba technology lies at the core of our product and helps individuals and organisations find certainty and clarity. It generates knowledge about complex and uncertain situations or problems, and provides the insight needed to make better decisions, faster.
My Verified ID offers world-first Identity Verification as a Service (IVaaS™).
This is the first plug and play Identity Verification with options such as Face Biometric Recognition, Voice Biometric Authentication and Digital Signatures System. The technology includes a set of API’s that can be installed on the platform. The Verification and Authentication technology platform enables instant verification of users applying for services or products and or authenticating users signing in. My Verified ID contributes in reducing risks associated with online transactions and online data exchange while meeting AML and KYC compliance.
Invoice Receivables Payment System
In addition to application, identification and rating, payment systems, an invoice receivable payment system is operated by Marketlend supported by JLT and an established BPO, Sibling Solutions, will manage credit limits and invoice payment process. The bureau system is hosted on Xero for the support for the daily management of the payments and reconciliation with the bank and the trustee.