Off the back of a successful FY17/18, Kogan.com have announced the launch of a new branch of their business, Kogan Money. What does this entail and what will it mean for Kogan shoppers?
Kogan.com have announced a new partnership with Adelaide Bank and Pepper Group Limited (Pepper) to coincide with the launch of Kogan Money. Entering into multi-year agreements, the partnerships will see Kogan.com offering competitive home loan products to Australian homeowners and investors under the new brand Kogan Money.
Expected to launch in FY19, Kogan Money Home Loans will be the first of a suite of financial products and services to be rolled out under the new Kogan Money brand. Key details of the agreement include:
- Kogan money home loans will focus on offering competitive home loan products to homeowners and investors
- Adelaide Bank will make available competitively priced conforming, or prime, home loans
- Pepper will make available competitive near prime, non-conforming or specialist, home loans
- Branding, marketing and customer acquisition will be provided by Kogan.com
- Kogam.com will earn fees on all home loans
David Shafer, executive director of Kogan.com, said the partnerships with Adelaide Bank and Pepper will help Australian homeowners, “Kogan.com is excited to partner with Adelaide Bank and Pepper to enable us to offer Aussies a range of comparatively priced home loans available online.”
On the partnership that has enabled the launch of Kogan Money, Shafer went on to explain, “with well over a million customers, Kogan.com is proud to be able to form partnerships like these that form a genuine win-win-win for both Adelaide Bank and Pepper, for Kogan’s shareholders, and most importantly for Kogan.com customers.”
Kogan Money will focus on simplifying credit and financial services for all Australians making home loans more affordable through digital efficiency.
Adelaide Bank’s Head of Strategic Partnerships, Damian Percy, said the bank was pleased to provide consumers even greater choice by offering home loans to Kogan.com customers. Mr. Percy went on to say, “Kogan.com is a leader in the online retail space and Adelaide Bank has a long tradition of partnering with like-minded businesses to bring greater choice and competition to the Australian home loan market.”
Details of the actual offerings will be released by Kogan Money closer to the launch date in FY19.
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