21 January 2017
visit http://www.wolterskluwerfs.com

New Zealand P2P lender Harmoney gets FMA license

11 July 2014  |  2237 views  |  0 Source: Harmoney

Harmoney today announced that it was the first lender in New Zealand to reach the standard required to obtain a Peer-to-Peer Lending License as granted by the sector's regulator, the Financial Markets Authority.

Harmoney CEO Neil Roberts says that Harmoney is delighted to be the first Peer-to-Peer lender in New Zealand which is the fastest growing form of lending in the world and is completely changing the way people borrow and invest.

"Harmoney has a fully compliant online platform that automates the process of investing and borrowing. The system is fast, easy to use and offers a marketplace in which to transact with Bank Grade Security. This investment in people and systems has paid off with Harmoney being the first Peer-to-Peer Platform in New Zealand to obtain licensed status," says Roberts.

Roberts adds that the Harmoney team launched a similar business with over $3b in loan applications processed from start-up phase and prior to the sale of the business to GE Money.

"Harmoney has a stellar team and Board with outstanding financial experience and business credentials that are second to none. We couldn't be more excited to lead the charge and shake up New Zealand's personal lending market with a new competitive and technologically advanced investment and lending platform. We appreciate how well the Financial Markets Authority has managed the regulatory process."

"We look forward to announcing more as part of Harmoney's official launch date which is not far away and until then we will be working to fine-tune systems and our exciting new lending platform."

Peer-to-Peer has been extremely successful overseas and is growing at nearly 200% per annum. In the USA, Google-backed Lending Club is expected to float this year with a market value of $5bn. In the UK, the Government has invested GBP100m of Public Funds through Peer-to-Peer Lending Platforms whilst allowing individuals to invest with Super and Tax Free funds. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextra

Who is commenting?

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
16385 views comments | 93 tweets | 113 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
12845 views comments | 48 tweets | 44 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
11057 views comments | 31 tweets | 20 linkedin
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
7034 views comments | 41 tweets | 40 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
6521 views comments | 21 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job