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A very interesting interview with Greenslade on NBR Online (under paywall) today where he explains the thinking behind the HarMoney purchase.
He gives an interesting example of where they see the benefit for HNZ:
"A lot of our customers come to us at a point of purchase, for example when they are at a car dealer and come to us for motor vehicle finance. But HarMoney means we could get to customers before they go to the car dealer so we could help them at an earlier stage of their decision making"
He also says he can not confirm whether they will make further acquisitions before Christmas but says they are actively looking at a few options.
Keep it up Jeff :)
It all seems to be taking off since Winner69 declared his overweight position.!!!
Thank you winner69.
Financially return wise for HNZ this is really is peanuts. I feel it that from a strategic view P2P is here and will have its use so it is good that HNZ is involved, even if only from a risk mitigation point of view. Also sends that message that Heartland is more than just a boring old bank waiting for things to happen.
In Britain P2P lending was just $1 billion pounds in 2013, but growing. I posted a link to a lot of numbers and developments earlier in the year (copied to Jeff)
One segment seen to be catching on was SME using these alternative ways to fund their businesses cash requirements.
Something that Heartland could explore. They already into invoice financing.
Watch this space
But it does signal that strategic thinking is alive
Lending Club did $1B in 3 months. Its valuation is huge : http://techcrunch.com/2014/08/27/len...-for-500m-ipo/
Thanks for that, very interesting eh
Fascinating that the way is heading there I going to be more money in setting something up and collecting fees along the way than taking money in and lending at a margin.
So this Lending Club is worth more than HNZ
Wonder what HarMoney will be worth in 3 years time?