Business Report: Lendi Pty Ltd

Business Report 2
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Startup Introduction
Lendi is a privately owned and run business entity designed to make loans on home simple and fast. It is Australia’s only home loan platform company with an inbuilt interest duty (Perpetual Corporate Trust, 2019). Lendi brings together home loan specialist advice and smart technology on its platform which gives Australians a wide variety to compare, choose, and make informed decisions that enable them to settle for the best possible home loans that befit their needs. The entity main targets Australian customers who prefer completing their business transactions online and those who experience challenges that impede their visit to the bank especially during the day (Metrics.com.au, 2020). Additionally, Lendi targets anyone in Australia that is interested in securing a home loan irrespective of their social, economic, or religious background.
Lendi’s major services include but are not limited to home equity loans, renovation loans, and refinancing services. The services are orchestrated to enable its potential customers to compare and choose loan options that suit their respective financial needs. Lendi is primarily designed to address the shortcomings and limitations that customers used to face when applying for a bank loan (Daley, Coates, and Wiltshire, 2018). For instance, conventionally, customers had to get time off work to visit the nearest bank. They would then spend hours in the queue before being attended to. The bank would then serve them with voluminous instructions where they were required to fill out tens of pages of paperwork. The customers would then take another off to visit the paper again. This process was tedious and time-consuming (Perpetual Corporate Trust, 2019). In response, Lendi addressed this problem by revolutionizing the home loan application process by bringing it online. Therefore, customers are no longer afraid of long queues and tedious paperwork because they can now apply for their preferred loans at any time (Hyman, 2021).
Additionally, Lendi is dedicated to facilitating the process of getting a home loan by doing much of the paperwork for their clients; hence, addressing the need for them to make several bank visits when applying for a loan (Metrics.com.au, 2020). Moreover, the organization addresses customers’ fears of failing to get the loan option they want from the bank since banks have limited home loan options to choose from. On the other hand, Lendi has collaborated with more than 30 major lenders in Australia; thus, increasing the possibility of customers getting better and convenient home loan options that meet their needs (Howarth, 2019).
Some of the competitors of Lendi Pty Ltd include but are not limited to home loan comparison sites, mortgage brokers, major banks, and lenders such as UBank, ClickLoans, Uno. And Tic: Toc. Lendi Pty Ltd is different from its competitors because the firm does not directly fund its customers’ home loans (Saggers, 2017). On the contrary, Lendi facilitates the home loan application and acquisition process most conveniently and efficiently possible. Additionally, while bank...