The release of MoneyMe’s first personal loan product was...

The release of MoneyMe’s first personal loan product was followed by a virtual card, property sector finance and auto-finance. He says acquiring SocietyOne – which has provided over $1 billion in total lending since its launch in 2012 – reduces the combined group’s funding costs and widened its channels.

“Adding a savings account and a transactions account to our product toolkit fits our plan,” Howes says.

“It further deepens the relationship and our ability to reach that younger demographic, at an earlier stage in their banking and credit lifecycle.”