Personal lender SocietyOne will spend next week talking to a group of potential anchor investors that could help shore up its proposed $60 million raising and trip to the ASX boards
Former ME boss resurfaces at SocietyOne ahead of IPO
Former ME boss resurfaces at SocietyOne ahead of IPO
14 April 2021 4:05AM
McPhee, who exited ME last July, has been appointed a director of digital finance platform, SocietyOne.
He will be joined on the board by former American Express veteran Melanie Cochrane, who previously led the global card company’s merchant services business in the Asia Pacific region.
McPhee and Cochrane join SocietyOne at a critical moment for the business after it hired Evans and Partners to advise it on a possible IPO later this year.
SocietyOne continues to position itself aggressively as an alternative source of personal loans to the major banks, despite entering a strategic partnership with Westpac’s banking-as-a-service platform in February.
By Kate Weber on Apr 13, 2021 1:13PM
Former senior vice president at American Express also joins.
Peer-to-peer lender SocietyOne has appointed two new board members as independent non-executive directors.
The company said former ME Bank CEO Jamie McPhee and former senior vice president at American Express Melanie Cochrane would bring important finance experience to the organisation.
It comes as the personal lender prepares to launch an initial public offering later this year.
In a statement, SocietyOne said it is “strengthening its strategy, governance and risk capabilities as it embarks on the next stage of its development and growth”.
Earlier this year, Westpac signed on SocietyOne as the second user of its digital banking-as-a-service platform.
By Kate Weber on Feb 23, 2021 12:33PM
Following earlier deal with Afterpay.
Westpac has signed peer-to-peer lender SocietyOne on as the second user of its digital banking-as-a-service platform.
The platform is built on UK-based 10x Future Technologies core banking stack, which allows Westpac to offer white-labelled banking products to third parties.
The major bank is seeking to broaden its customer base under the joint venture, expanding lending opportunities and growing deposits.
Afterpay was first to sign on to the digital banking-as-a-service platform last year, and SocietyOne is now the second.
SocietyOne customers can expect digital banking services offerings in the second half of 2021.
Non-bank launches $5m capital raise mortgagebusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagebusiness.com.au Daily Mail and Mail on Sunday newspapers.