Pepper Money Recognised in AFR Boss List's 2022 Top 10 Most Innovative Companies

Posted: 14-10-2022

Pepper Money has today been recognised as one of Australia and New Zealand’s Most Innovative Companies. The prestigious annual list, published by The Australian Financial Review BOSS, is based on a rigorous assessment process managed by Australia’s leading behavioural science consultancy, Inventium, in conjunction with a panel of industry expert judges.

Pepper Money ranked #8 on the bank, super and finance sectors list, covering more than 700 nominated organisations across Australia and New Zealand. The assessment is based on Inventium's Innovation Framework which comprises the nine elements science has shown to drive innovation. The assessment also judges the organisation's top innovation from the previous two years. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact that the innovation has had.

Pepper Money was recognised for its market first and purpose-built solution Pepper Resolve™ – an automated home loan offer tool that integrates into a mortgage brokers customer management database to offer an alternative solution within seconds when a customer’s application has been declined by their first choice lender, withdrawn or stuck due to lender conditions.

Pepper Money’s CEO, Mario Rehayem said, “We are honoured and delighted to be recognised for two-plus decades of data and market-leading tech to support brokers and our customers. Although we’ve grown and evolved our product offering over the last 22 years, Pepper Money’s underlying mission remains the same: to help people succeed by challenging the way loans are designed, distributed, and offered.”

“Six in ten Australians with non-conforming loan characteristics who are eligible for a home loan are turned away by traditional lenders – including customers that apply directly with a bank. 1 Many Australian borrowers are not familiar with alternative solutions that non-bank lenders like Pepper Money can offer.”

According to Mr Rehayem if a broker wants to find an alternative for a declined customer, they need to research and re-submit an application to another lender. “This can take hours with no guarantee of a positive outcome, and the customer may get another enquiry on their credit record. Often the customer is left in a vulnerable position whilst the broker is researching for an alternative solution, which places unnecessary pressure on the customer and the broker. Pepper Resolve™ gives instant assurance that there is an alternative option available through Pepper Money.

Pepper Resolve™ takes the legwork away from the broker, giving them an instant alternative, they can present to their customer to turn a negative conversation into a positive one, thereby strengthening the broker proposition. It also helps customers find solutions that they might not have been previously aware of, so they can turn a no into a yes and stay on track to meet their financial goals.”

“Our ability to be nimble and tailor financial options for specific borrower requirements quickly through innovative solutions like Pepper Resolve™ gives customers of all walks of life an opportunity to enter into the housing market or fund their next big purchase such as a car or renovation.”


“Pepper Resolve™ is the most efficient way in the market for brokers to assist in creating financial inclusion by creating options for customers who have been declined by their first-choice lender.”


The award-winning technology strengthens the broker proposition by maximising the probability to yes – something “a bank cannot offer because they are a lender with a mono line product offering,” he said.

Mr Rehayem said, “Innovation is paramount to keep pace with our customers’ needs today and tomorrow. Like many economies around the world, the combined effect of rising inflation and rising interest rates means our customers, brokers, and introducers are facing a period of uncertainty. It's a critical time right now for people to have peace of mind, fast turnaround on decisions and flexible loan options. From a digital and technology perspective, that means speed to decision, access to self-service options, transparency right across the digital loan journey and more automation – they're all crucial right now to help our customers succeed.”


“I want to congratulate and thank everyone including our team, our valued partners, brokers and shareholders for playing a part to help us achieve this outstanding recognition as leaders in innovation. We look forward to championing the spirit of innovation and non-bank lending by continuing to seek out new ways to add value for our brokers and customers.”


The full list and summaries of each innovation can be viewed here:

1. Independent research conducted for Pepper Money in 2021 by Fifth Dimension Research and Consulting. Non-conforming Market Size survey. Research conducted and published in March 2021. Total sample size n=903. 


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Pepper Money
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Melissa Fanous
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