LoanOptions.ai and Occubuy partner to help Australian renters manage personal debt
LoanOptions.ai, Australia’s leading loan matching technology provider and broker, has teamed up with Occubuy, the country’s pioneering reward platform for renters, to empower Australians in tackling personal debt.
Australian renters can use Occubuy to earn credits toward buying their first home every time they pay rent. Now, they can also earn rewards for making progress in paying off personal loans, leveraging LoanOptions.ai’s advanced debt consolidation loan process.
“We’re proud to give renters some peace of mind around the unnerving idea of paying off somebody else’s mortgage,” said Occubuy Co-Founder David Cain. “However, we still know that the financial landscape for Australian renters has become increasingly challenging, and that many of them are also burdened by significant personal debts.”
Data from Finder tells us that one in seven Australians holds a personal loan, with the average new personal loan being over $23,000. Almost half of all Australian adults are in credit card debt, contributing to the national total of over $41 billion. Furthermore, nearly 1 in 5 Australians are using Buy Now, Pay Later (BNPL) services, adding another layer of financial stress.
“It made perfect sense for us to work with a business that could help address the significant barrier towards home ownership that is personal debt. We are thrilled to partner with LoanOptions.ai, which uses cutting-edge technology and automation to enable personalised debt solutions that are tailored to individual circumstances. Our goal isn’t to originate new personal loans but to help our users reduce their existing debt repayments as much and as quickly as possible,” said Cain.
Julian Fayad, Founder and CEO at LoanOptions.ai says working with Occubuy was a no-brainer decision, given the mutual values and similar missions the two businesses share.
“We are really proud of this partnership because we share a common vision with Occubuy which is to help Australians take control of their finances and empower them to improve their financial well being. This partnership leans into our strengths as a business as one of the leading debt consolidation loan providers,” Fayad said.
