1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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MONEYME's loan book surged in the quarter as secured lending, auto finance and new credit cards drive growth. CEO Clayton Howes outlines a sharp acceleration in growth, with quarterly originations reaching $325 million, up 43% year on year, and the loan book rising to $1.9 billion, which he states is a 29% uplift on the prior year. Howes frames this as the result of a deliberate shift towards higher-quality borrowers and secured asset finance, now around 60% of the mix, which he claims is lowering loss rates and supporting margin expansion as funding costs fall.
He highlights MONEYME’s variable-rate credit card, personal loan and auto finance portfolio as giving flexibility to reprice for risk and Reserve Bank moves. Technology-led auto finance is presented as a key differentiator, with dealership customers reportedly able to complete car finance and drive away in under 60 minutes. Howes sees a huge opportunity in Australian auto finance, including EVs, and notes banks’ retreat is, in his view, opening market share and wholesale funding access.
New product expansion is central to the strategy, including a cashback credit card already rated number one by Finder, and a forthcoming co-branded card with Luxury Escapes. Howes stresses that the latest quarter is now profitable on a normalised basis, supporting self-funded growth.
