2020, 2021, 2022 AMA Excellence Awardee for Best Non-Bank BDM
Accolades
Milestones
2015
2018
2019
2021
2022/3
2023
MoneyPlace launched
2015
MoneyPlace joins LFG
2018
Broker channel created
2019
Secured loans introduced to market
2021
88% year-on-year growth in broker channel
2022/3
$1 billion in funded loans achieved
2023
From tattoos to tiny houses: loans outside the box
When customers can achieve their goals with a personal loan, the opportunities are endless.
With the mounting pressures of the rising cost of living, brokers and customers alike are looking for new alternatives to make life easier. This is where MoneyPlace steps in. Offering secured and unsecured loans of up to $80,000, almost anything is possible.
MoneyPlace head of partnerships and sales Matt Hall notes the similarity of purposes of the personal loans that people have taken out over recent years. “[These borrowers] were able to see the traditional uses for personal loans, but as we educate brokers more, they are starting to see the unlimited possibilities,” he says.
Now that Australians are aware of new opportunities, consumers are getting more creative and idiosyncratic with their purchases. “People are starting to look for something that’s more important, that has value to them,” Hall says.
“MoneyPlace is more than happy to fund dreams that borrowers might have had trouble getting a loan for through more orthodox channels and is setting up partnerships in areas such as tiny homes and solar power in anticipation of more people pursuing such investments.
“Australians love to dream, and personal loans could help drive solutions and fulfil dreams with new products and greater opportunities to help keep Australians feeling in control of their finances.”
Hall has 25 years of experience in the finance industry, and his ear is close to the ground when it comes to credit growth and understanding risk appetites. He joined MoneyPlace 12 months ago and is clearly enjoying his new role and the insights it brings.
Spotlight
MoneyPlace is a technology-focused personal lender offering Australian borrowers secured and unsecured personal loans for almost any loan purpose, up to $80,000 for up to seven years. Employing streamlined processes on a highly efficient platform, all loans are submitted via a simple, online-only application process that enables MoneyPlace to fund loans on the same day as approval.
Company Profile
$1bn+
Total value of loans funded
<10 min
Time to submit an application
<1 hr
Time from approval to funding
~20,000
number of Currently accredited brokers
~50%
Proportion of women on team
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years of experience
25
tenure AT COMPANY
12 months
FAVOURITE QUOTEs
“All or nothing”
“Keep it real!”
Matt Hall
Head of partnerships and sales at MoneyPlace, Vic
Facilitating all kinds of borrower goals, from uncommon aspirations to extraordinary endeavours, MoneyPlace is reshaping views on personal loans through creativity and diversity
Read on
“People are starting to look for something that’s more important, that has value to them”
Matt Hall, MoneyPlace
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Milestones
2011
2012
2015
2016
2019
2021
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2011
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2012
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2015
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2016
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2019
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2021
From tattoos to tiny houses: loans outside the box
Spotlight
Years of experience
25
Tenure at COMPANY
12 months
Matt Hall
Head of partnerships and sales at MoneyPlace, Vic
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
Share
Share
Read on
With much of the liquidity in the financial system having dried up over the last year on the back of successive rate hikes, people are seeking alternative ways to secure funding for their projects.
“People are now seeking other funding options. We say we ‘fund anything legal’ – it’s not just debt consolidation, it’s not just a used-car purchase.”
Hall recites a list of recent examples: funds to purchase British bulldog pups; go-karts for kids with F1 aspirations; a long-awaited trip abroad; new braces; or rare collectables.
“We funded a full arm tattoo the other day.”
The client had secured a booking at a popular tattoo studio and wanted a loan for $8,000 to pay up front. “He got the tattoo for cheaper than if he had been on a payment plan or didn’t have the funds up front,” Hall says.
Research from global consumer trend tracking firm GfK Consumer Life shows that a majority of consumers only buy products and services that appeal to their beliefs, values or ideals. It also shows that Australian values are more skewed towards freedom, creativity, simplicity, helpfulness and enjoying life than the global norm.
Hall recognises this trait not only in the unusual loan purposes that Australians pursue but also in his managerial style. He encourages his BDMs to take ownership of their roles and approach work as if they themselves were the ultimate stakeholders.
“I empower my team to facilitate their portfolios as if it was their own business.”
This entails a strong emphasis on personal relationships and BDMs getting out into the field. MoneyPlace employs two broker specialists who remain in the office to handle much of the reactive-type legwork so that BDMs can go out and sell. “[This] gives them the flexibility to structure their days the way they want,” Hall says.
Taking ownership involves taking initiative – as the saying goes, you can lead a horse to water, but you can’t make it drink. But a horse allowed to seek water on its own will drink as it pleases.
“The minute you tell someone to do something, you’ve got less chance of ownership, because they’ve been told to do it. Whereas if they feel empowered to do it, and they’ve got a sense of ownership of it, there is a better sense of gratitude and appreciation when it does work.”
Hall sees the tiny house and solar power markets as poised to boom, both in terms of economic imperatives and the values that Australians hold dear.
“[The market for] tiny houses is huge up in Queensland. It’s huge in regional areas and starting to grow all over Australia.”
MoneyPlace partnered in June with the Australian Tiny House Association (ATHA) to help promote awareness around tiny houses and the funding options available. It also sponsored an award at the inaugural Tiny House Industry Awards in August.
“We are the first to partner with the Australian Tiny House Association,” Hall says. “No other finance provider has done that yet.”
2021 Australian Broker 5-Star BDM award
2021 MFAA Excellence Awards National Winner and
State Winner Vic/Tas of
BDM – Lender/Support Service Provider award
Finalist 2020 & 2021, Winner 2022 – Better Business Awards - Best Lender BDM ( Non-Bank) Vic/Tas
MATT HALL, MONEYPLACE
Since launching, Hall has seen a lot more broker engagement and excitement around the idea. Soaring rates of housing stress are forcing Australians to explore new options, including living in smaller houses. People may also want to add extra income streams or cater to their growing families by locating tiny houses next to their existing dwellings.
“[Brokers] see a need for it; they say people’s housing situations are changing. [We’re] opening people’s minds to new ways of living and what they can do with funding,” Hall says.
“Millennials are open to trying new things … they’ll take greater risk. They’re willing to try new things and play in parts of the market that probably no one’s ever thought of before. And they’re probably more passionate around the global impact of fuels and resources.”
MoneyPlace is continually expanding its partnership opportunities with sustainable products and companies. The solar gambit also dovetails with the changing economy as retail electricity becomes less affordable and more people seek to live off-grid in a self-sufficient and environmentally friendly manner. Government incentives are likewise encouraging people to consider such options more seriously.
“It’s thinking about the ways of the future … you’re going to have to have solar, you’re going to have to change the way you use electricity and gas,” Hall says.
Since Hall joined the company, the number of affiliated brokers at MoneyPlace has grown by over 110% alongside a significant growth in loan writing.
Hall has also been able to bring MoneyPlace into the orbit of various aggregators over that time, but a large part of the growth can be attributed to his mentoring and encouragement of a hunter mentality within MoneyPlace.
“The aim is to see more people build strong relationships, and then this ultimately drives business on the back end.”
After all, without such relationships it would be pretty difficult to stay abreast of all the weird and wonderful plans that people are hoping to fund.
“We are still seeing Australians looking for avenues to fund dreams, which is exciting,” Hall says. “A lot of our growth is due to our ability to facilitate dreams.”
“People are starting to look for something that’s more important, that has value to them”
“We are the first to partner with the Australian Tiny House Association. No other finance provider has done that yet”
“People are starting to look for something that’s more important, that has value to them”
“We are the first to partner with the Australian Tiny House Association. No other finance provider has done that yet”
“We are the first to partner with the Australian Tiny House Association. No other finance provider has done that yet”
1999
2003
2007
2015
2020
2021
Joins NAB as executive broker distribution
2021
Becomes head of private wealth north at Westpac
2020
Appointed head of asset finance at CBA
2015
Named captain of the Waratahs
2007
Named vice-captain of Australia's Rugby World Cup team
2003
Waugh debuts as a professional rugby player with the Waratahs; makes Test debut with the Wallabies
1999
Milestones
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Published 18 Sep 2023
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Thinking outside the box
Future aspirations
Matt Hall, MoneyPlace
A strategy to grow
2019 finalist, MFAA Excellence Awards –
BDM – Lender/Support Service Provider award
With much of the liquidity in the financial system having dried up over the last year on the back of successive rate hikes, people are seeking alternative ways to secure funding for their projects.
“People are now seeking other funding options. We say we ‘fund anything legal’ – it’s not just debt consolidation, it’s not just a used-car purchase.”
Hall recites a list of recent examples: funds to purchase British bulldog pups; go-karts for kids with F1 aspirations; a long-awaited trip abroad; new braces; or rare collectables.
“We funded a full arm tattoo the other day.”
The client had secured a booking at a popular tattoo studio and wanted a loan for $8,000 to pay up front. “He got the tattoo for cheaper than if he had been on a payment plan or didn’t have the funds up front,” Hall says.
Research from global consumer trend tracking firm GfK Consumer Life shows that a majority of consumers only buy products and services that appeal to their beliefs, values or ideals. It also shows that Australian values are more skewed towards freedom, creativity, simplicity, helpfulness and enjoying life than the global norm.
Hall recognises this trait not only in the unusual loan purposes that Australians pursue but also in his managerial style. He encourages his BDMs to take ownership of their roles and approach work as if they themselves were the ultimate stakeholders.
“I empower my team to facilitate their portfolios as if it was their own business.”
This entails a strong emphasis on personal relationships and BDMs getting out into the field. MoneyPlace employs two broker specialists who remain in the office to handle much of the reactive-type legwork so that BDMs can go out and sell. “[This] gives them the flexibility to structure their days the way they want,” Hall says.
Taking ownership involves taking initiative – as the saying goes, you can lead a horse to water, but you can’t make it drink. But a horse allowed to seek water on its own will drink as it pleases.
“The minute you tell someone to do something, you’ve got less chance of ownership, because they’ve been told to do it. Whereas if they feel empowered to do it, and they’ve got a sense of ownership of it, there is a better sense of gratitude and appreciation when it does work.”
Matt Hall, MoneyPlace
