Aid Quot It Is Clear We Are Enteringa Higher Interest Rate Environment News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SYDNEY, Oct. 11, 2022 /PRNewswire/ Digital lender and non-bank challenger MONEYMEis on track to deliver on its promise to shareholders to return to statutory profitability and achieve greater than $200 million in Net Revenue for FY23. The shift in strategic focus, announced in July following triple digit growth in FY22, comes as a measured response to the evolving macroeconomic climate in which market volatility is expected to continue, and investors increasingly prefer a proven ability to deliver profits. It's a strategy MONEYME has pursued successfully in the past, achieving profitability by its fourth year in business in 2017 and posting consistent net profits through to 2020 before entering its high growth phase. As part of this profitable growth strategy, MONEYME will focus on high quality credit originations and optimise for cost efficiencies by leveraging new scale advantages, technological improvements, and the low-cost acquisition opportunity of offering its expanding pr ....

New South Wales , Clayton Howes , Horizon Technology Platform , Net Revenue , Managing Director , Oct 11 , 022 Prnewswire Digital Lender And Non Bank Challenger Moneymeis On Track To Deliver Its Promise Shareholders Return Statutory Profitability Achieve Greater Than 200 Million In Net Revenue For Fy23 The Shift Strategic Focus , Nnounced In July Following Triple Digit Growth Fy22 , Omes Asa Measured Response To The Evolving Macroeconomic Climate In Which Market Volatility Is Expected Continue , Nd Investors Increasingly Prefera Proven Ability To Deliver Profits It 39 Sa Strategy Moneyme Has Pursued Successfully In The Past , Chieving Profitability By Its Fourth Year In Business 2017 And Posting Consistent Net Profits Through To 2020 Before Entering High Growth Phase As Part Of This Profitable Strategy , Oneyme Will Focus On High Quality Credit Originations And Optimise For Cost Efficiencies By Leveraging New Scale Advantages , Technological Improvements , Nd The Low Cost Acquisition Opportunity Of Offering Its Expanding Product Range To Over 200 , 000 Societyone Customers It Will Also Continue To Maintain Diversity In Its Loan Book Created By Expansion Within The Auto Finance Space Fy22 , Long With Other Successful New Product Lines Moneyme Has Also Hita Major Milestone In The Post Acquisition Integration Of Societyone 39s Technology Onto Its Proprietary Platform Horizon Ahead Plan And Less Than 6 Months After , Ocietyone Loans Are Now Originated Via Horizon This Has Resulted In The Fastest Loan Origination Societyone 39s History , Ith Societyone Loans Approved And Funded In Just 34 Minutes On The Second Day Live Platform , Epresentinga Significant Improvement On Societyone 39s Historical Average Of 24 Hours From Application To Settlement Clayton Howes , Anaging Director And Ceo Of Moneyme , Aid Quot It Is Clear We Are Enteringa Higher Interest Rate Environment , Hich Has Changed Our Focus To Building Further Resilience In Business By Managing Cash Reserves And The Credit Performance Of Loan Book Quot Addition Toa Very Strong Revenue Overall Result , T Has Been Remarkable To See How Efficiently And Effectively The Team Business Have Executed Strategy Position Moneyme Appropriately In Current External Environment This Tech Enabled Agility Is Indicative Of Our Strong Historical Focus On Unit Economics Highly Efficient Operating Model With Rapid Transition Delivering Statutory Profits , A Clear Long Term Advantage In An Evolving Market Quot The Transformation To Tech Enable Societyone 39s New Business Originations On Horizon Technology Platform Is Another Major Milestone Accelerated For Group As It Delivers Realising Synergy Benefits From Acquisition This Allowing Us Provide Same Leading Customer And Service Experience Moneyme Autopay Continues Bea Priority We Prepare Unlock Opportunity Auto Finance Through Strategic Partnerships Exciting Product Innovation Designed Drastically Transform Car Buying Consumers While Macroeconomic Outlook Be Challenged , I Believe We Are Uniquely Positioned To Deliver Innovation While Achieving Our Strategic Initiative Of Generating Statutory Profit Result In Q1 Isa Strong First Step Toward This Evolving Strategy And Is Setting The Business Up Well For Remainder Fy23 Quot About Moneyme Leading Australian Disruptor Ona Mission Become 1 Challenger Major Banks Witha Focus On , E Fund Ambitious Australians With Market Leading Speed And Seamless ,