Neobank Volt moves into the lending space, acquiring Australian Mortgage

Volt co-founder and chief Steve Weston. Source: supplied.
Neobank Volt has acquired alternative lender Australian Mortgage, in a bid to bring tech into an antiquated industry, and improve efficiency for brokers and borrowers alike.
It means the bank will be able to offer a mortgage product for the first time — one it says will allow for fully verified approval times of 15 minutes or less.
Speaking to
SmartCompany, Volt co-founder and chief Steve Weston says the acquisition represents a milestone for Volt.
Getting mortgage approvals is a “pain point” for Australian consumers, he notes, and can take as long as 25 days.

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