MA Cash cracks $1 billion barrier

MA Cash, a division of MA Monetary Group, has celebrated reaching a major milestone: $1 billion in settlements.

This achievement follows a powerful yr for the non-bank lender, marked by a 244% enhance in its mortgage ebook, with over $870 million added since its launch in November 2022.

Chris Wyke (pictured above), joint CEO of MA Monetary, mentioned the corporate was delighted to announce this essential milestone for MA Cash, which got here after 18 months of getting ready the enterprise for development.

“Reaching $1 billion in settlements is tangible proof that we’re heading in the right direction with our methods, which prioritise a seamless expertise for brokers and versatile options for our prospects with distinctive dwelling mortgage necessities,” Wykes mentioned.

Investing in third-party channel know-how

“The spectacular development charge of MA Cash positions us favourably to grasp our ambition of changing into certainly one of Australia’s main non-bank monetary establishments.”

Wyke attributed MA Cash’s development to strategic investments in techniques and infrastructure, together with a digital utility system and integrations with e-signing, Digital ID, and CoreLogic.

“These applied sciences, together with a streamlined evaluation course of, allow us to course of functions rapidly, with a 48-hour service degree settlement (SLA) to conditional approval,” he mentioned.

“We’ve taken time to construct a really skilled and educated staff and improved our mortgage product providing out there.”

A constructive yr for MA Mooney

The previous yr has been a typically constructive one for MA Cash.

This was preceded by the firm lodging report numbers within the wake of its acquisition by MA Monetary, attaining greater than 500% development in lodgements over the six months ending June.

Once more, Wyke attributed this success to the constructive response from brokers to MA Cash’s expanded product choices and enhanced know-how platform.

“Not too long ago, we additionally launched SMSF and Expat loans, prioritised providing aggressive charges and reveal agility to regulate insurance policies to offer extra flexibility when it is smart to the enterprise and our prospects.”

Various non-bank lenders are experiencing robust mortgage development. What’s driving this? Remark under