MONEYME celebrated as digital disruptor at Innovation Awards

News & Announcements
Team MONEYME|09 November 2022| 3-minute read

Innovation has been a key focus for MONEYME as it sought to close the gap on major banks and challenge the status quo in digital finance solutions. Its focus paid off when it was celebrated at the recent Finder Innovation Awards for 2022.

Announced as the Digital Disruptor of the Year, MONEYME was applauded for breaking clear of other online lenders with solutions like Autopay.

Autopay settles car loans in as fast as 60 minutes and has more than 1,600 Australian dealers and brokers using the platform. Within just 14 months of its launch, Autopay became one of the lender’s most successful products ever, accounting for 49% of originations in the final quarter of FY2022.

Judge and Finder Money editorial manager Alison Banney said, “Autopay is a great example of digital disruption. The success metrics clearly show you’ve found a gap in the market and are responding to consumer demand.”

This digital disruption also earned MONEYME’s place as a finalist in 2 other categories at the awards.

Disrupting the status quo in consumer lending

Autopay cemented MONEYME’s position as a finalist in the Best Lending Innovation category. 

The solution provided customers almost-immediate access to finance rather than having to wait for days or weeks. When a customer goes into a car dealership and picks out a car, the dealer can use the Autopay platform to submit the client’s application for finance. It takes as little as 60 minutes and the customer can drive away the same day.

Autopay has been a big hit with dealerships, plus the number of customers choosing to finance their car loan through the product is growing.

A review from Gold Coast Prestige said the dealership is “selling more cars because of Autopay”.

“Over the past 6 months, over 40% of our customers have chosen to fund their car via Autopay, which is incredible numbers for a financing solution that’s a year old,” the review said.

Finder publisher and Innovation Awards judge Dougal Warby said, “MONEYME took a problem in the auto industry and fundamentally changed how it was solved. This is a great solution for both dealerships and for the user looking for a same-day purchase.”


Access funds to spend on marketing, home improvements, styling, auction fees and much more. Pay when your property sells.

Learn more

In-house AI quickens process for customers

Although Autopay is MONEYME’s key headline of 2022, there has been a lot more bubbling away behind the scenes.

During FY2022, MONEYME upgraded its in-house Artificial Intelligence Decision Engine (AIDEN) and its proprietary technology platform called Horizon. The lender introduced features to make the process for customers simple and swift.

AIDEN earned MONEYME a second finalist mention, this time in the Best Technology Innovation category.

Being an online business from its foundation in 2013, MONEYME understands the importance of timing. Its ability to rely on its own technology enables the lender to innovate, pivot and roll out new products fast – something that paved the way for this win. It also led MONEYME to be recognised in not 1 but 2 more categories at the Innovation Awards.

AIDEN automates a majority of its decisions. It analyses hundreds of data points such as bank statements, credit file and personal information in real-time when a customer applies for a personal loan or virtual credit card.

This allows the AI system to make well-informed recommendations, reducing its credit risks while enhancing its ability to provide fair pricing decisions and customer rates. AIDEN can do that within just 1.3 seconds, 24/7.

Interested in a personal loan?

Check your interest rate and repayments in just a few minutes! It won’t impact your credit score.

Ready to get

You might also like these articles

News & Announcements

Celebrating NAIDOC Week

Team MONEYME|06 July 2023| 2-minute read
News & Announcements

Securitisation: what is it and what does it have to do with loans?

Team MONEYME|07 June 2023| 2-minute read
News & Announcements

Life at MONEYME: here's what our interns have to say

Team MONEYME|11 April 2023| 1-minute read

Subscribe to MONEYME Hub

Get our latest news to your inbox on finance tips & tricks, special offers and more