Friend or Foe? Spotcap NZ talks fintech-bank collaboration with NZX-listed Heartland Bank
Spotcap predicts a collaborative future at Auckland banking conference
Auckland, New Zealand – 7th July, 2017 – Managing Director of Spotcap New Zealand, Lachlan Heussler, was invited to speak to a number of leaders and experts in the finance and banking industry at this week’s Heartland Bank fintech conference in Auckland.
Mr Heussler spoke alongside other contributors at the conference, including Heartland Bank’s CEO, Jeff Greenslade, Joint-CEO and Founder of Harmoney, Neil Roberts, and President and Founder of Extractable Craig McLaughlin. The theme centred around Banking and Fintechs: Friends or Foes?, with speakers talking to the future of the relationship between the two sectors.
Exploring the New Zealand fintech industry and its potential, Mr Heussler outlined the many exciting years ahead for the intersection of banking and fintech:
“Banks are known to be really good at giving a slow no when making credit decisions,” he said. “Fintechs can both adapt and adopt quickly, and through a positive relationship with the banks, can help them innovate and access new technologies, concepts and market segments.”
The conference was to highlight and give insight to the attendees on Heartland Bank’s recent partnerships with various fintechs, including local NZ startups Fuelled and Harmoney, as well as Berlin-based Spotcap.
CEO of Heartland Bank, Jeff Greenslade, also spoke of the future and the vision he has for Heartland working alongside specialised fintech products and services. He highlighted the key factor being collaborating with fintechs, to innovate at the same rate as the smaller disruptors.
Heartland Bank recently supplied Spotcap’s Australian operations with A$20 million of funding. Spotcap launched its New Zealand operations in January 2017, the first unsecured balance sheet lender in the country to be operating in the alternative lending space. Spotcap uses forward-thinking algorithms to assess the real-time position of growing businesses, approving lines of credit in 24 hours, allowing these businesses quick access to funds to seize opportunities.