LoanOptions.ai and Occubuy partner to help Australian renters manage personal debt
LoanOptions.ai, Australia’s leading loan matching technology provider and broker, has teamed up with Occubuy, the country’s pioneering reward platform for renters, to empower Australians in tackling personal debt.
Australian renters can use Occubuy to earn credits toward buying their first home every time they pay rent. Now, they can also earn rewards for making progress in paying off personal loans, leveraging LoanOptions.ai’s advanced debt consolidation loan process.
“We’re proud to give renters some peace of mind around the unnerving idea of paying off somebody else’s mortgage,” said Occubuy Co-founder David Cain. “However, we still know that the financial landscape for Australian renters has become increasingly challenging, and that many of them are also burdened by significant personal debts.”
Data from Finder tells us that one in seven Australians holds a personal loan, with the average new personal loan being over $23,000. Almost half of all Australian adults are in credit card debt, contributing to the national total of over $41 billion. Furthermore, nearly 1 in 5 Australians are using Buy Now, Pay Later (BNPL) services, adding another layer of financial stress.
“It made perfect sense for us to work with a business that could help address the significant barrier towards home ownership that is personal debt. We are thrilled to partner with LoanOptions.ai, which uses cutting-edge technology and automation to enable personalised debt solutions that are tailored to individual circumstances. Our goal isn’t to originate new personal loans but to help our users reduce their existing debt repayments as much and as quickly as possible,” said Cain.
Julian Fayad, Founder and CEO at LoanOptions.ai says working with Occubuy was a no-brainer decision, given the mutual values and similar missions the two businesses share.
“We are really proud of this partnership because we share a common vision with Occubuy which is to help Australians take control of their finances and empower them to improve their financial well being. This partnership leans into our strengths as a business as one of the leading debt consolidation loan providers,” he said.
About LoanOptions.ai
LoanOptions.ai is a market leading, award-winning, white-label loan matching technology provider and asset finance broker that simplifies and streamlines the personal, car, business, and equipment loan application process for borrowers and lenders.
With absolutely no impact on the customer’s credit score, LoanOptions.ai's AutoCompleteEngine (ACE) has reduced the loan application process to as little as five minutes and customer data entry by up to 80%. Its proprietary technology matches applicants with the best loans tailored to their specific financial situation from a panel of over 88+ lenders in Australia and New Zealand.
LoanOptions.ai has helped thousands of Australians get access to finance solutions that are right for them, ensuring they don’t pay any more in interest than they have to, and providing an unmatched service packed with innovative features to support their client’s financial literacy and health. This includes a loan tracker tool that helps clients track the status of their loan like tracking a pizza, and a bank statement analysis report following the application process with powerful insights into spending habits and personalised recommendations. It is also insanely fast, holding a record of money hitting a client’s account in 36 minutes from initial enquiry.
Its technology can be embedded onto other finance systems as a white-label product and has helped thousands of mortgage brokers diversify into asset finance and create additional revenue streams for advisers.
LoanOptions.ai was named the Finance Brokers Association of Australia’s Industry Supplier of The Year 2023 and Technology Service Provider of the Year at the 2024 Australian Broking Awards. Founder and CEO Julian Fayad has also been named a Sydney Young Entrepreneur two years running.
For more information, please visit https://loanoptions.ai
About Occubuy
Occubuy is redefining what it means to be a renter in Australia. By offering tangible rewards for rent payments, Occubuy pioneers in bridging the gap between renting and owning a home, making home ownership more accessible.
Occubuy rewards Australian renters for paying rent with credits that go towards buying their first home, turning their monthly obligation into a stepping stone towards their ultimate goal.
Since its launch in 2021 it has helped thousands of Australians to save, manage, and earn more money while working towards the goal of home ownership.
For more information, please visit https://occubuy.com.au/
