This week on
Radio Today Tonight, Jake and Viv cast their eyes over the latest financial results from Australian Radio Network, Nine Radio and Southern Cross Austereo, following updates to the ASX – how much each company received in Government handouts, and how much this propped up their bottom lines.
Plus we discuss how ARN CEO Ciaran Davis and SCA CEO Grant Blackley are framing the competition between digital platforms iHeartRadio Australia and LiSTNR.
Radio Today Tonight is back for 2021, coming to you each Thursday and mixing the biggest news of the week, along with a discussion of all the personalities, politics and pressures involved in the audio industry.
4.43PM â Feb 24, 2021
Harmoney, MoneyMe lift personal loan originations in bank tech battle
Loan originations are on the rise at two new, tech-driven personal lending brands, Harmoney and MoneyMe, which presented plans to beat the major banks at finding customers and assessing their risk but failed to convince the market.
Harmoney and MoneyMe have both developed machine learning tools using broad data sets to assess customers; Harmoney said a new model using data from 53,000 Australian loan applicants had resulted in its âLibraâ system doubling originations in the middle two weeks of February.
Over the half, Harmoneyâs $194 million of new loans was down 28 per cent, adding to the negative sentiment on the market. But it explained this was due to a COVID-induced pullback in the first quarter and said new loans were up 47 per cent in the second quarter and momentum is continuing. Itâs total loan book is $470 million including New Zealand, where it started l