Q&A financial advice fintech launches
Former Wizard Home Loans founder, Paul Ryan, has launched a fintech start-up for financial advice.
Known as Eccho me, the mobile app allows users to reach out to independent finance professionals across Australia and ask questions without giving away any personal information.
Ryan said the fintech will provide a "community platform" for users to view answers and all questions asked, as well as follow and monitor the finance professionals who continually provide valuable expertise.
"All of us have probably been guilty of putting off asking questions as there doesn't seem enough hours in the day or we simply don't know who to ask," he said.
"Eccho me takes away that stress because you can post a question and have a variety of expert answers through the app on your phone … it is like a library of information."
Ryan said Eccho me will appeal to the next generation of borrowers as it presents them with an educational tool for asking questions, planning ahead and having direct access to good advice.
"Every finance professional on the platform has to register and acknowledge their expertise. They have to register their professional details before they can start answering questions," he said.
"With as many as four in five Australians not knowing the interest rate they're currently paying on their home loans, it makes sense to ensure you've got access to reliable information."
Ryan said that while users on the platform are anonymous and cannot be contacted by the finance professionals answering the questions, if a consumer likes the way a broker planner responds to them then they will be given the opportunity to make direct contact with the finance professional.
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
