Fintech Symple Loans has announced a linkup with airline giant Qantas that will allow eligible borrowers to receive frequent flyer points.
Personal loan customers can get 1 Qantas point per $1 borrowed from Symple, and is thought to be the first such partnership in Australia.
“We’re thrilled to be working with the Qantas team to further reward consumers for choosing us,” said Bob Belan, co-founder and CEO at Symple. “Many customers of Symple would already be Qantas Frequent Flyer members, and so this partnership really felt quite natural to us.”
“We’re excited about this opportunity which we feel further supports our commitment to offering Australians a better, faster, and more rewarding personal lending experience.”
While this might seem like an unusual linkup, it shows how agile fintechs can be and the amount of freedom that they have to work outside the paradigms of traditional banking.
“We feel that Symple is amongst the leaders here,” said Belan. “As a challenger in the market, it’s important to recognise that partnerships are essential to building credibility and trust among customers. Fintechs tend to be a bit more nimble which is helpful in building out a robust partnership strategy with industry leaders both locally and globally.”
Brokers have been getting used to Symple, who joined up with aggregator AFG earlier this year.
“At the start of 2021, we joined the AFG personal lending panel which provided us access to their network of over 3000 brokers nationally,” added Belan. “Our product and pricing strategies position us well to meet the needs of AFG’s brokers and their customers. Our aim has always been to set a new standard for how personal lending ought to be done, and so we’ll continue to seek out partnerships to help us deliver on that strategy.”
