Aryza announces lending partnership with EBP Money

By Leandra Monteiro

Aryza announced a new partnership with EBP Money, Australia’s newest digital lender and part of the FSA Group.

EBP Money approached Aryza to work with them on delivering a full, digital, end-to-end lending process supported by automated real-time decisioning using third-party credit bureau data, identity checks, and transactional data, supplemented by e-signature and automated disbursement.

EBP Money offers tailored rates across all risk grades within their unsecured personal loan book. The online customer journey has been optimised to be both quick and simple. It takes customers minutes to apply for a loan and if an application is approved, they will disburse funds on the same day. EBP Money chose to partner with Aryza for its consumer loan origination platform, based on the leading-edge solutions they had developed combined with their agile approach to the delivery of the project.

The result is a secure, digital lending solution to support high-volume low-cost consumer lending with comprehensive credit rules to deliver both prime and non-conforming loans. While the platform has been designed to optimise and streamline the customer journey, it also delivers a highly automated and efficient underwriting process using real time data and utilising complex configurable credit decisioning rules.

Ariel Timothy, Aryza, CSO said, “We were excited to work with EBP Money to deliver a solution that is scalable, cost effective, and provides significant efficiencies in the origination process. Our highly experienced team delivered this solution in less than 4 months to ensure that EBP had the platform in place to enter the market in line with their board’s expectations”.

Commenting on the partnership, Terence Dean, EBP Money, Executive Director said, “With EBP Money we wanted to deliver a low-cost digital lending solution with an automated end-to-end process.  To support this, we needed a cloud hosted solution that was secure, scalable, highly automated, and we found this solution with Aryza.

Having taken delivery of the platform we have all been very impressed with the agile approach of the Aryza team, the outstanding performance and capabilities of the platform, and the speed of delivery.

Using the Aryza platform has enabled us to significantly reduce our average underwriting time from 40 minutes on every loan to under 5 minutes under a referral, significantly reducing the overall cost of acquisition. We look forward to continuing our partnership with Aryza as we expand on these solutions”.