SocietyOne

= social lending platform in Australia

URL = http://societyone.com.au/about

Description

About Us

SocietyOne is Australia's first fully compliant Peer-to-Peer lending platform. As a P2P lender, SocietyOne connects borrowers and investors in a secure, safe, professional online environment.

SocietyOne enables individuals to lend and borrow money to each other without the intermediation of a bank or financial institution. Qualified borrowers can request up to $30,000 in unsecured personal loans at competitive rates determined by their credit profile. Approved applications are listed on the platform for verified investors to assess and bid on. Once terms are agreed and accepted by the parties, SocietyOne handles the funds management and servicing of every loan on behalf of the matched borrowers and investors. Stringent procedures and processes ensure a safe and secure lending environment.

The Company's philosophy is to exploit the structural mispricing and operating inefficiencies that exist in the traditional banking sector to bring borrowers and investors better rates. Unencumbered by the branch infrastructure, overhead and capital reserve requirements that drive up operating costs for traditional banks it uses an advanced proprietary technology platform to radically reduce the cost of originating, servicing, and funding of traditional loans.

Launch

SocietyOne is headquartered in Sydney, Australia and was launched in August, 2012. According to the company, its technology platform and online loan application and loan management solution - known as ClearMatch - allows it to operate more efficiently than a traditional bank. (http://www.moneymanagement.com.au/product-news/2012/societyone-launches-new-loan-platform)

Investors

Until the Fund is registered with the Australian Securities and Investments Commission (ASIC), investors in the Fund must be wholesale clients and Sophisticated Investors as defined in the Corporations Act 2001 (Cth). (http://www.asic.gov.au/asic/asic.nsf/byheadline/Certificates+issued+by+a+qualified+accountant?openDocument)

Unless specifically agreed with SocietyOne, the company will only accept loan applications and applications to invest from Australian-resident persons.

Borrowers

SocietyOne revolutionises the consumer finance industry, delivering borrower interest rates matching credit profiles and providing investors with the opportunity to invest in this asset class. This means lower interest rates for low risk borrowers and higher rates of return for Australian investors.

SocietyOne handles the funds management and servicing of every loan on behalf of the matched borrowers and investors. Stringent procedures and processes ensure a secure, safe lending environment." (http://societyone.com.au/about)

ClearMatch

SocietyOne licenses and operates ClearMatch™ technology and has invested over $6million in the proven loans platform, which delivers a new level of empowerment and control for both the Borrower and Investor.

International Markets

SocietyOne's P2P consumer loans platform could eventually also expand beyond Australia into other markets in Asia-Pacific and disburse in local currencies. (http://www.arnnet.com.au/article/434135/societyone_takes_big_banks_peer-to-peer_online_loans)