Consumer fintech MoneyMe has reached second place in its debut on the Deloitte Technology 50, after it recorded a 400 per cent growth rate in 12 months.

Aiming to revolutionise lending in the millennial market, MoneyMe is focusing increasingly on the benefits of technology for efficiency in customer-centric services, seeing it score second on the Deloitte Technology 50 of innovative technology companies across Australia.

MoneyMe chief executive, Clayton Howes, said that the start-up was focused on building original technology to extend business functionalities.

“Developing our own tech was important to us, as we knew it would not only build tremendous value in the business, but put us in a position to move rapidly in response to changing customer preferences,” he said.

“Technology is in our DNA…the long-term success of any business in the new financial landscape requires the ability to rapidly innovate.”

Howes said that the predominant challenge for tech companies lay in working to the changing landscape of customer needs and digital advancements.

“In lending, it will no longer be enough to provide loan products that merely adhere to lending standards, meet consumer demand, and can be accessed online,” he said.

“The future of financial services is moving beyond mere automation and towards artificial intelligence.

“[It] delivers a rapid and personalised customer experience, enables mass scalability across multiple product lines, ruthlessly eliminate inefficiencies, and improves decision making with every customer interaction.”

Read more from MoneyMe CEO, Clayton Howes, by clicking here…