Key Operating Metrics - August 2018
Perth, Oct 9, 2018 AEST (ABN Newswire) - Goldfields Money Limited (
ASX:GMY) ("Goldfields Money" or the "Company") is pleased to provide the following trading update for the month ended 31 August 2018.
Managed loan settlements, aggregation settlements and recruitment of loan writers are key operating metrics as they drive both transactional and recurring revenue streams. Recurring revenues are made up from interest, trailing commissions, management fees, transactional fees on trailing commissions, platform fees, compliance fees and software as a service subscription fees.
Due to the time it takes to aggregate the data the timing of each monthly report will be approximately 5 weeks from month end i.e. September 2018 metrics will be released around the end of the first week of November 2018. As previously noted the Company intends to provide this information on a monthly basis for the first half of FY19.
Trading Update August 2018
The month ended 31 August 2018 showed continued strong performance for both Goldfields Money and Finsure with increases across all key operating metrics including managed loans settlements, aggregation settlements and recruitment of loan writers:
------------------------------------------------------------ August 2018 Change on PCP ------------------------------------------------------------Managed Loan Settlements (During August) $84m +435% Aggregation Loan Settlements (During August) $1.15b +16% Total Loan Writers (At end of month) 1,475 +21% ------------------------------------------------------------
About Goldfields Money Ltd
Goldfields Money (ASX:GMY) is Australia's new revolutionary digital bank, distributing first class products through a largely branchless distribution network. A bank without the bank. This digital banking platform is built on the recently implemented mobile first, world class core banking system provided by Temenos and our proprietary mortgage distribution software "Loankit".
Goldfields is ASX listed (ASX:GMY) with two key divisions:
Banking (operates under "Goldfields Money" and "Better Choice" brands) - an APRA regulated bank that offers deposit and loan products that are funded either on-balance sheet or off-balance sheet through a range of third party lenders. Our deposits are all guaranteed by the Australian Government Deposit Guarantee for up to $250,000 per customer. We are the new approach to banking in Australia, we're honest, with transparent bank practices and a straightforward approach to you and your money. It's all yours, honestly.
Mortgage Aggregation (operates under "Finsure" and "Loankit" brands) - an ASIC regulated mortgage aggregation and software technology platform with over 1,475 loan writers as of 31 August 2018. Finsure puts brokers first and is a leader in the market in offering a diverse lending panel, flexible commission models, training, lead generation, proprietary SaaS and mortgage broker support services. Finsure was also recently named Aggregator of the Year for 2017 at the Australian Mortgage Awards.
You can read more about us at www.goldfieldsmoney.com.au and www.finsure.com.au.
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