The ex-Head of General Insurance, Mortgages, Home Services, and other product lines at UK’s financial comparison website, MoneySupermarket.com, told e27 that LoanGarage and its sister site KreditAja are working towards becoming “destination sites” for people to find out more about loans and its various intricacies.
As an aggregator for loans, the sites play the role of a matchmaker between borrowers and lenders. Not only do they allow borrowers to submit multiple loan applications in a couple of minutes, they also help lenders stand out from the crowd with premium listing options. The firm takes a small cut of the revenue generated by the borrowers.
2014 seems like a good year for LoanGarage and KreditAja as Plutus drives partnerships of banks in both, Singapore and Indonesia. Barnes told e27 that there are plans to build new channels for loans and go into different verticals such as credit cards, bank accounts and insurance products. He added that the team is focused on building content and a brand identity online.
The aim, at the end of the day, is to ensure that both portals become destination sites where people go to to get a bird’s eye view of the loan industry.