Nimble Australia Pty Ltd
Formerly | Cash Doctors (2005–2012) |
|---|---|
| Unlisted | |
| ISIN | 🆔 |
| Industry | finance |
| Founded 📆 | 2005 in Southport, Queensland |
| Founder 👔 | Greg Ellis and Sean Teahan |
Area served 🗺️ | Australia |
| Members | |
Number of employees | |
| 🌐 Website | nimble |
| 📇 Address | |
| 📞 telephone | |
Nimble Australia Pty Ltd is an Australian online provider of payday loans, short term loans up to $5,000. It is an online service with an automated loan approval process.[1][2][3][4]
History[edit]
Nimble was co-founded in 2005 under the name Cash Doctors by Greg Ellis and Sean Teahan.[5] It re-branded to Nimble in 2012.[6]
Nimble was the first lending company in Australia to automate its loan approval process through a machine learning algorithm.[7][8] This is a process that is now widely used by short-term loan providers that offer online applications.[9]
Some of its advertising has provoked criticism.[10]
ASIC investigation[edit]
In 2016, Nimble was investigated by Australian Securities and Investments Commission (ASIC) who found that its algorithm did not always adequately assess the financial circumstances of loan applicants.[11][12]
As a result of the investigation, Nimble agreed to refund 7,000 customers $1.5 million in fees and charges.[13]
References[edit]
- ↑ Turbet, Hanna Mills (2020-07-19). "Payday lenders in spotlight as spam complaints boom". The Sydney Morning Herald. Retrieved 2021-09-02.
- ↑ Knight, Anneli (2013-04-02). "Nimble is a new way to access credit". The Sydney Morning Herald. Retrieved 2021-09-02.
- ↑ Cowie, Tom (2014-09-06). "Rise of the online payday lenders". The Sydney Morning Herald. Retrieved 2021-09-02.
- ↑ Brito, Sam de (2015-01-03). "Nimble's dumb little loans". The Sydney Morning Herald. Retrieved 2021-09-02.
- ↑ Knight, Anneli (2013-04-02). "Nimble is a new way to access credit". The Sydney Morning Herald. Retrieved 2018-06-18.
- ↑ "Nimble Rebranding". The Financial Brand. 2012-12-05. Retrieved 2018-06-18.
- ↑ "Nimble start-up takes on short-term loans sector". Financial Review. 2013-02-05. Retrieved 2018-06-18.
- ↑ "Can fintech companies disrupt the big-four banks? » SelfWealth". www.selfwealth.com.au. 12 May 2016. Retrieved 2018-06-18.
- ↑ "Artificial Intelligence Applications for Lending and Loan Management -". TechEmergence. 2017-12-16. Retrieved 2018-06-18.
- ↑ Rawlinson, Clare (2015-01-11). "Payday lender under fire for utility bill assistance ads". ABC News. Retrieved 2021-09-02.
- ↑ Australian Government, Australian Securities and Investments Commission. "16-089MR Payday lender Nimble to refund $1.5 million following ASIC probe". asic.gov.au. Retrieved 2018-06-18.
- ↑ Wilkinson, Zoe (2019-10-16). "Nimble rebrands and drops the man in the bunny suit from its ads". Mumbrella. Retrieved 2021-09-02.
- ↑ "Payday lender Nimble forced to refund $1.5m to customers". ABC News. 2016-03-23. Retrieved 2018-06-18.
External links[edit]
This article "Nimble Australia" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Nimble Australia. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
