TBS Partners

Lodex: The marketplace putting those left behind one step ahead.

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There are those who follow the system, and there are those who change it. Lodex is the latter, bringing a freedom to personal finance that has no peer.

 

 

One of my earliest memories of banking was that of my mother, desperately seeking answers from a stony-faced bank clerk, in her hand was the mortgage application that was summarily denied. Her hand waved the paper, and the teller shook her head. Dad was gone by then, his passing making a move into a smaller house a necessity.

It wasn’t our only trip to the bank. I remember several, picked up from school in a furious blur, each trip highlighted by a different piece of paper, unanswered questions and a quiet car ride on the way back. What we never had, I remember her saying, was someone in her corner.

As an adult, you’re often in a prison of your experiences from those formative years, and you don’t forget. Because of this, the FinTech industry became a sector I warmed to, with VC funds quickly supporting founders and adopters of peer-to-peer lending, robo financial advisors and alternative eftpos technology solutions.

New solutions for old problems.

Application of technology enables and equips communities who previously would have been excluded. That which changes the course of intergenerational financial freedom.

There has been no better example of this democratisation than that of Australian-born marketplace, Lodex. An industry-first loans and deposits marketplace, that allows Australians nationwide to take back control when it comes to applications across home loans, personal loans, car loans and even short term loans. As a platform powered by AI, the proprietary algorithm pulls all the necessary information together to auction a customers loan (or your loan) in the marketplace to see what lenders and brokers are offering the customer, allowing us to choose. Lodex offers an alternative. Instead of being at the mercy of the lenders, the lenders and brokers are bidding for our business. Even just having had that opportunity for people like my mother would have allowed her a sense of confidence about her negotiation power.

Bill Kalpouzanis is one of the founders of Lodex, and he says that “the future in banking is a global marketplace of banking services that level the playing field”.

This very ethos, underpins their goal, to ensure the average Australian household has access, and more say in their financial future.

While companies like Paypal led the charge by creating an agile infrastructure to ensure streamlined transactions, Lodex is similarly breaking new ground by building a data-driven solution for frustrated applicants Australia-wide. This pivotal shift in allowing Australians to leverage and streamline their applications in a secure, transparent and anonymous way does more than just offer streamlined personal finance opportunities. It, on a very human level, offers a freedom that has previously only been awarded to the very few who knew that they had a great accountant or advisor going into bat for them, ensuring they got the best deal and had the best application to secure the most advantageous financial product.

My mother didn’t have access to the best advisors, but had she had access to Lodex, the lack of opportunistic connections wouldn’t have mattered. Because she would have been able to enter the arena for lenders and brokers to assess her based on the data that really matters, without human bias, while accessing what has been historically missing when it came to Australian lending – lenders who want to compete for your business.

 


 

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