FST Media: What are your business and digital priorities for the next 6 months?

Isaacs: To remain at the forefront of the non-bank lending industry and continue our growth by helping our customers (SME’s) to obtain funding and capital solutions to suit their business needs. 

FST Media: What are your business and digital priorities for the next 6 months?

Isaacs: To remain at the forefront of the non-bank lending industry and continue our growth by helping our customers (SME’s) to obtain funding and capital solutions to suit their business needs. eBroker was the first comparison website for non-bank business lending in Australia and we continue to source innovative and unique lending products to suit rapidly growing demands; currently we list 48 leading lenders through our platform. Digitally, we will continue to adapt, enhance and improve our user interface to always bring our customers the best solution tailored for their unique business.

FST Media: What technology or innovation is proving to be the single biggest game changer across the financial services industry?

Isaacs: Fintech seems to be the buzz word across the industry and is transforming the way we think about financial services. The new ecosystem is growing rapidly and many conventional financial sectors seem to be facing disruption currently or in the near future.

FST Media:What is the most significant challenge eBroker faces as it continues to develop in a competitive market?

Isaacs: The tech industry is fast moving and can attract many imitators when a new concept is launched; eBroker was the first comparison website for non-bank business lending in Australia but we must continually innovate and strive for better solutions to grow and remain at the forefront of this sector. Like any business eBroker must solve a need and satisfy both our business users and our lending partners; we value both relationships greatly and it’s essential to take on feedback from both sides of the equation to deliver the best results for all; it’s essential for us to deliver the right funding to the SME and also to send business to our lenders in order for eBroker to continue to develop and have an important place in the financial market.

FST Media: It what ways can traditional financial services continue to develop under the threat of digital disruption?

Isaacs: In today’s world the only consistent thing is change and like all industries and services that have transitioned; some traditional services will become extinct and no longer be relevant unless they adapt and embrace the shift to a digital ecosystem and concentrate on building the new. Traditional services can not only co-exist with new digital services if they choose to collaborate effectively but actually accelerate the transition to achieving better overall outcome for all stakeholders.

FST Media: How do the government’s small business policies reflect the need for fintech in Australia?

Isaacs: At this stage all I have noticed is rhetoric in Australia; in other countries Fintech has been allowed to flourish. I would love to see an action plan on what will be done to foster the innovative spirit of the fintech industry and entrepreneurs. The two main failure points in the Australian economy for SME’s are at the Start-up & Growth Phases; if we hope to become competitive with the US then our government must play an integral role at the Start-up phase as there is no meaningful appetite from private equity or capital controllers. It seems that these days the only start-ups that get off the ground are either self-funded by the entrepreneurs or started as satellite business by the private equity or capital controllers at arm’s length. If the start-up has real potential and can go to market the private equity or capital controllers, then publicly place a larger ‘seed’ investment to foster growth and generate PR.
 

The Government can play a key role in bringing the opportunity of starting a business to a significantly larger group of entrepreneurs thus encouraging increased competition and hence innovation which would have Australia placed to compete in reality with the US and other progressive economies.

FST Media: In what ways are alternative lending and non-traditional finance revolutionising the small business sector?

Isaacs: Alternative lending empowers small business to create and control their future; it is fast to gain approval and access to the capital required and can make a huge difference when an opportunity arises for the business; I have heard many a business owners story where they missed out on an amazing opportunity to grow their business and make a lot of money only to be let down by conventional lenders timeframe. In the past finance was only available to Property owners who were prepared to put the family home up for security or those that had access to benefactors; alternative lending has the potential for those business’s that would not have ordinarily been able to gain funding to get capital. Non-traditional finance and lending solutions certainly needs more awareness in the small business sector.

FST Media: What specific insight does eBroker bring to the Australian small-business community?

Isaacs: eBroker simplifies and expedites the process for our users (Australian business) to access the capital they need from the right lender under the most suitable terms for the specific business and we have an important role in growing the awareness of the non-bank lending sector among the small-business community.

FST Media: What is the next big thing for eBroker and how will you measure its success?

Isaacs: If the fintech industry is given space to experiment and develop it will deliver new frontiers and opportunity in ways unimaginable right now. It’s still very early days for eBroker and the alternative lending space; every day brings new and exciting information and opportunities so I would have to say eBroker is within our big thing and the next 6 months will be a very interesting time to be in this space. We will observe and adapt our service to our users and our lenders and would love to be in a position to have a lending option suitable for every business and help grow awareness over the sector over the next few years.

FST Media: How do you build a culture of innovation in your team?

Isaacs: I believe innovation is born from the desire to evolve and strive for improvement; first the individuals themselves must be motivated to think and experiment and  from there to build on that culture within the team it’s important to for everyone to have a sense of purpose, responsibility and recognition for the role they play; people like to feel what they are doing makes a difference there is nothing worse than feeling what you do makes no difference to the company you work for and people stop looking after your business’s best interests!

FST Media: How do you spend your free time?

Isaacs: Outside of eBroker I spend my time with my wife and young son and I like to have a game of golf as often as possible.