Global FinTech Lender Symple Loans Launches Better, Faster, Lower Cost Personal Loan For Canadian Consumers
Symple Loans seizes an opportunity capitalize on the slow adoption of digital lending technology and tackle unnecessarily high interest rates on unsecured personal loans
TORONTO, October 14, 2021 / CNW / – from Canada The newest fintech company, Symple Loans, is open for business, offering a better and faster online borrowing experience and lower interest rates for creditworthy, blue-chip and super-prime Canadian consumers .
Symple uses cutting-edge technology to digitize the end-to-end borrowing experience for applicants and advanced analytics to offer financially prudent borrowers (consumers with high credit scores) rates starting at just 5.75 %.
The company was founded in Australia in 2018 and is part of a wave of progressive fintech companies helping to transform digital lending globally. Today’s announcement advances Symple’s mission to make an international impact by addressing what it sees as an opportunity to lower the cost of borrowing for Canadian consumers.
“The launch of Symple in Canada will help fill a gap for Canadians looking for great rates and a quick and easy online application process, which is essential in today’s environment. Big banks have been slow to embrace modern lending technologies, and fintech companies here fail to offer the attractive interest rates needed to compete effectively with incumbents, ”said David Gold, President and Chief Operating Officer of Symple Canada.
Symple has developed a set of proprietary credit and pricing strategies that include the use of additional data sources often excluded or overlooked in traditional credit risk models. This allows the company to create a more complete picture of the financial and professional situation of a borrower and in doing so more accurately assess the creditworthiness of the applicant and the corresponding interest rate for a more personalized loan offer. .
Gold added, “Our strong focus on the premiums and super premiums segment allows us to offer interest rates significantly lower than consumers can get elsewhere. This, coupled with a world-class online lending experience, is great news for Canadians who have more choice for their personal loan needs and represents a clear strategic advantage. “
Additional features of Symple Loans include:
Borrow up to $ 50,000.
Get a personalized interest rate quote in 2 minutes.
Complete a fully digital loan application in 7 minutes.
Receive an automated credit decision in 60 seconds.
Have the approved funds available within 1 business day.
No fees or prepayment charges.
Loan term up to 7 years.
Visit www.sympleloans.ca for more information or to start your Symple loan experience.
Symple Financial Group Pty Ltd is a Melbourne, Australia global consumer financial technology company founded in February 2018 through Bob belan and Paul Byrne – Senior executives from the banking sector with extensive local and international experience in managing large-scale lending businesses. The company uses its cutting-edge digital lending platform, advanced analytics, and global best practices to deliver unsecured personal loans funded by institutional investors. Symple’s global management team is made up of specialists in technology, credit risk, operational risk, marketing and investment management with in-depth expertise in the areas Australia, Canada, Asia, and the American markets. Symple Loans Canada was established as a subsidiary of Symple Financial Group in February 2021 and is based at Toronto, Ontario, Canada. Latitude Financial Group Holdings Ltd. announced to the Australian Securities Exchange (ASX) on August 9 that it had agreed to acquire Symple Loans.
SOURCE Symple Loans – Canada
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