From a website to a $6 Billion dollar business...

We Talk Cents Podcast

Managing Director of loans.com.au, Marie Mortimer shares her incredible story of how she turned a website into a $6 Billion dollar business. Marie brings inspiration, shares her insights on open banking, green loans and females in Fintech.

 The following is a transcript taken from episode 39 of the We Talk Cents podcast. The transcript is created by AI software so it might not be perfect - please forgive any imperfections or grammatical errors.
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Blaize Pengilly  00:09

Personal Finance budgeting cash flow and investing don't have to be scary words. The We Talk Cents podcast is here to help you learn more about money and take control of your personal finances. We Talk Cents podcast is not a financial advisor. This podcast is made for entertainment and educational purposes only. All information shared is of a general nature and does not take into account your personal situation. You should consider whether the information is appropriate for your needs and where appropriate seek professional advice from a financial advisor. For more information,

 

Dan Jovevski  00:46

please check out wemoney.com.au/disclaimer.

 

Blaize Pengilly  00:51

Hello, hello Blaize Pengilly here with you for Episode 39 of We Talk Cents I'm joined by Dan Jovevski. Dan, how are you today?

 

Dan Jovevski  01:01

I am doing absolutely wonderful Blaize. Here in Perth, we experienced a ray of sunshine and made the gloom and doom of winter. So you got to be happy with that. Taking peach days accounted we turn on play that was a bit of sunshine.

 

Blaize Pengilly  01:14

How about you know what it's been raining for about four weeks nonstop and it is really nice at the sun's out. So yes, I'm enjoying that as well. But you know what, Dan, I really feel for our friends on the other side of the country and even as close as Adelaide that are locked inside and kind of experience whatever whether they that they're surrounded by in their parts of the country at the moment. So if you're tuning in from lockdown, our thoughts are with you. And we hope you are staying safe and staying sane and making absurd amounts of delicious sourdough or whatever baking you are doing.

 

Dan Jovevski  01:50

Totally right. And especially for those people who have gone through a hard lockdown if you are part of our suburbs that have made you stay inside and not be able to leave your suburb and then that's probably a new level of restrictions that we haven't seen before. So our hearts go out to all those people that are currently going through that link lockdown. And hopefully we get through quickly.

 

Blaize Pengilly  02:11

Yes, hopefully we can provide some entertainment and education for you today as well that will distract you from your current situation, wherever you are. So today we are chatting to absolute Boss Lady is the two words that I would use to describe her. We have the CEO of one of Australia's largest online lenders joining us to tell her pretty remarkable story about how she turned a website into a $6 billion business. Dan. What's thingies headlines? I mean, there's a pretty big one that's happened this week. Have you seen that your your psychic abilities may have may have come true, Dan?

 

Dan Jovevski  02:58

Well, well, we haven't happened yet. But it's sitting on the right direction. And for those who might have seen us or if you haven't, the juggernaut the billionaire pirate juggernaut afterpay has introduced a new product called money by afterpay.

 

Blaize Pengilly  03:14

Have they introduced it, are they going to introduce it?

 

Dan Jovevski  03:17

Well, I think they've introduced it to say it's happening. And okay, they're working on it together with Westpac. So Westpac is taking care of the backend infrastructure, like the banking license and things like that. A database providing the front end solution, and more importantly, allowing the existing members here in Australia to access this service. And I think in an easy way, what is it? Well, money by afterpay is all literally like having a bank account, it allows you to put money in there, take money out, you can have up to 15 savings accounts, and also earn about 1% of interest on your money. And the targeting we're looking at is around female millennials. And I think this is a really super interesting move. afterpay obviously know, in the e commerce space for allowing people to buy goods and services and paying that in four installments. But now they're moving into the banking territory. And I think, and I think boardrooms of banking boardrooms around Australia, are probably rattling their boats. Because, yes, 3 million. That's right, 3 million people in Australia also using afterpay. And when you see the admiration that they will have to debate, yes, it's polarizing, right? Because people will say it's great. They will say it's not right. It's the devil. I get all that. But what you counted on is that people that use it, do love it to a degree. And I think yeah, that is going to scare the shoes off a lot of these bankies who are thinking to themselves, well, how are we going to prepare for this era where some new solutions like money by afterpay can hopefully help people with energy You know their money their finances so I don't know Blaizey, it's certainly moving in the direction where occupies have to expand their services to control more of your financial life.

 

Blaize Pengilly  05:10

Yeah, I think this article I think was super interesting. Like you said for people using money by afterpay. It's targeting female millennials, which is hands in the air, that's me, you can have up to 15 savings accounts and earn up to 1% interest. Just from those facts alone. It sounds a lot like up bank. And if you've listened to the pod before, you'll know I am pretty much a die hard fan of our bank, I think they are fantastic. This is not sponsored or anything at all, they just one of the banks that I use, and I really, really loved the app, and I really loved they use your experience. So and it sounds like afterpay is sort of modeling things maybe similar to the way that you'd use things in an app like up which is also heavily targeted to millennials. And yeah, if you're if you're curious as to what Dan's prediction was, I've got the little sound bite This is from Episode 32 I believe, where Dan made a prediction about buy now pay later.

 

Dan Jovevski  06:06

Here's a prediction close I think that BNPL and I will become the predominance payment platform in the next five years when it comes to people buying and selling items.

 

Blaize Pengilly  06:23

So yeah, Dan, you predicted that by now pay later would be one of the primary forms of payment and yeah, they're moving into the banking space. So who knows you might you might be a psychic. Is that what it is?

 

Dan Jovevski  06:35

I think it is a clairvoyant.

 

Blaize Pengilly  06:37

Yes, so crystal ball. Very interesting. We'll see if the rest of your prediction or if you will save in five years time your prediction is fully realized.

 

Dan Jovevski  06:49

Hopefully it doesn't take off to become a side hustle Blaize. I think that's the only one I've got.

 

Blaize Pengilly  06:59

Full disclosure before we kick things off with Marie WeMoney the producer of this podcast is affiliated with loans.com that I use the land provided that Marie represents Marie has an awesome story. She's an inspiring all around legendary human being anxious super knowledgeable on all things money, so she's got a lot of knowledge to share. I hope you enjoyed the chat. Den. You are a center of FinTech company, evident for a little while, but there's someone in the industry that has started out with a website and turned something into a pretty spectacular business and she's based out of Brisbane. Do you know who I am talking about?

 

Dan Jovevski  07:44

was that the amount of fingers that I need on my hand is just one. And it is the one I like very more demo of loans.com.au What a superstar

 

Blaize Pengilly  07:56

ding ding ding ding prices right down. You have absolutely nailed that pop quiz. Now I'm going to need to take a big breath in for this one. Because we are welcoming one of our most accomplished guests to the show. She holds a Bachelor of Business majoring in banking and finance with a funds management extended major and has more than 20 years of experience in the banking industry in her arsenal. In 2020. Alone, she won the greater Brisbane Women in Business of the Year award and was nominated as a finalist for the finis as female FinTech leader of the year and outstanding FinTech leader of the year. She's on the board of FinTech, Australia, FinTech, Queensland, and she's also a board member of a community housing provider called mangrove housing. She's passionate about diversity and helping women find their voice and confidence in the banking and tech industries, as well as improving financial literacy for all Australians, which is exactly what we're passionate about here at We Talk Cents as well. When she's not working, you'll find her spending time with her kids at the beach Skyping in now, all the way from sunny Brisbane in Queensland, Australia. Please give a very warm welcome to Marie Mortimer, the Founder and Managing Director of loans.com.au Welcome, Marie. Hey, going Oh, wow. Hello, what an introduction. Thank you for having me today. I need a breather. What an impressive what an impressive a woman you are. Now you've got a pretty fascinating story. Can you run us through your experience in banking? How did this all start for you?

 

Marie Mortimer  09:33

Yeah, I suppose. Yeah, my journey starts 20 years ago as you said I have a finance degree and I was very much on the pathway to work in finance after uni. Having a funds management major. I was expected to be an investment banker or going to stock broking going to the dark side. I worked a little bit in Brisbane and, and then ended up going over and doing the normal Ozzy thing and working in London got a job in an investment over there. Yeah, yeah, rite of passage. So I started on that working holiday visa. And it was amazing, like the fast paced environment of working for such a big bank, the Royal Bank of Scotland was amazing. And the experience I got was, was phenomenal. And um, yeah, I suppose it was there that I started working on some IT projects for the bank. And I found out I really was a nerd.

 

Blaize Pengilly  10:24

I think you have a suspicion? Or was this a bit of a rude shock for you?

 

Marie Mortimer  10:29

Yeah, I think when you have a finance degree majoring in funds management, you are a little bit yeah. The way to. So I, um, I really learned a lot there about change management and, and developing software projects. And I had a passion for like delivering stuff for our staff and our customers that kind of made their lives easier. Which was, which was, which is a lot of fun at the time of the projects I was working on there. So I was there in 2008, when the GFC hit, I was there for you know, another couple of years till about 2010. And then came back to Australia to work for the family business first Mac. Yeah. So came over and work for first Mac in the IT department, this time running some software projects there. And that's kind of where loans.com au was born at that time. So, you know, yeah.

 

Dan Jovevski  11:21

So Marie told me about just how this started. Because what do you think about loans, the contract unit business, it's been around for quite some time. What made you go into the digital sphere? Like That must have been a pretty bold move for you in the family business.

 

Marie Mortimer  11:35

Yeah, it was 10 years ago this year. So does a big milestone.

 

Blaize Pengilly  11:40

So yeah, happy tense. But yeah, thank

 

Marie Mortimer  11:42

you, thank you. It's, um, it's been a journey. So you know, from the IT department and with our founder, Kim cannon, and senior management, we decided to basically take this domain, we had loans.com.au, and connect it to our existing system. So first, Max been in business for over 42 years, or wholesale founder of home loans. And we've primarily dealt with the broken network up until that point in 2010. So we had these amazing credit systems on the back end, doing some automated processing to get broker customers through to settlement. So what we did is we connected loans.com Dudu to the front of it. And it was the first time in Australia that retail customers got to access a wholesale funder directly. What made that so special is, you know, in in the home loan space, nobody was doing this at the time to get access to wholesale funding with no branch networks and no mortgage broker commissions. net that we were offering some of the cheapest home loan rates in the country. So it was quite innovative at the time. There's nobody else was doing it like like they are today.

 

Blaize Pengilly  12:49

So Marie, please forgive me, because I don't I'm still trying to wrap my head around banking. I mean, we do the podcast every week. And I press the down with banking questions all the time, that what buy wholesaler wholesale loan provider? So you a customer until you created the loans.com that au platform, there was no way for someone like myself to go, Hey, Marie, how can I can I get a loan from you? It was all I would have had to go through a breakup or someone else to access. Yeah, it was always a third way.

 

Marie Mortimer  13:18

There was always a third party or mortgage broker. First NEC is a non bank lender. That means we don't raise our money, like a bank does through deposits. We do it via securitization, and, and that's probably we don't want to go too technical there. But yeah, we're basically raised, we raised bonds in the market. And that's how we fund our home loans. Yeah. So yeah, first NEC is 13th largest lender in Australia today. And in that group of 13, the four big banks in there too. And what makes us unique is where, you know, 100% privately owned family business in that group of 13. And there's nobody like us out there in Australia, doing what we're doing, which is, which is amazing.

 

Dan Jovevski  13:59

So you just took us back about that moment where you realize he's actually going to work? I mean, did you feel like it was going to be success? Did you feel like hey, maybe this might not work out? Or what are some of the challenges that you faced in getting loads of company up and running?

 

Marie Mortimer  14:16

Yes, so I'm like to say day one, it was all in the plan. Dan, when you started a few businesses before, and yeah, nothing really goes to plan. It was a bit of a trial at the time. So I suppose what we did was, you know, put a website out there, and we didn't expect, you know, the volume of customers that we got coming through from day one. So I think at the time, you know, we launched the AFR picked up a story about us and our product, because the rate was just you know, it was almost a percent or more lower than some of the big bank right. So at the time, and wow, yeah, I remember sitting there on Friday night, you know, having a beer with some of the staff and, you know, we were just watching application f After application come in, and where are we ready for it? Probably not, there was probably a lot, a lot of sleepless nights. And a lot of a lot of changes we had to make to our system, because we had a system that dealt with brokers, not retail customers. And I remember customers at the time would apply for a loan online. And before somebody could actually give him a call from Lowe's dot com to do a value or be out at their house, valuing the property. So if anything, we had to slow some of our systems down, to be prepared to dealing with the retail customer. And, you know, there's been a lot of learning over the over the last 10 years. You know, we do everything in house, we acquire all of our customers online. And that's easier said than done. Because you've got a balance, you know, the spend that you're doing online with actually, you know, getting customer all the way through to settlement. And that's where you see the returns. So that was a lot of trial and error, which has been great. And you know, I'm really proud of the team that I've built around myself in the last 10 years.

 

Dan Jovevski  15:59

I've got another question for you. But I wanted to ask this, I know you sound very calm and sanguine at the moment, it's, you know, year 10 of the journey. But, you know, one thing that just really springs to mind is how you built this business to where it is today. And I'm really curious to find out, what's your leadership style? And how did you go from building a team, motivating a team, getting people to create something from effectively nothing taught us about that.

 

Marie Mortimer  16:25

So I suppose to begin with, you know, not everybody was happy that we were changing the way we were doing business. You know, there are people internal to our organization, external that just didn't think online lending was the future. So yeah, I suppose it's all about building a good team around you, that does support you. But you've got to have a team that is diverse in their thinking. And, you know, sometimes you want to go one way you need, you need people to kind of tell you, like, we could go this way or that way and come to you with new ideas. So I think my leadership style is very open, I listened to my team, I just don't, you know, have one, a one track mind and, you know, head in one direction, you've got to surround yourself with good people, and you've got to be able to, to listen to those people. And I think that's, that's really important. And that creates a real inclusive environment. And, you know, a good 10 year service as well, which we're really proud of

 

Dan Jovevski  17:23

just got back to the point of online lending. And, you know, this being, you know, an industry that's really very small, and it's taking off, and you obviously had some internal disbelievers when you started once upon a year, but, you know, tell us where we are now, what's the state of online lending, and you know, why people sort of selecting this avenue, as opposed to go to the big banks,

 

Marie Mortimer  17:43

I think it's a mindset change, and it's slowly been happening. So, you know, people go to the big banks, or, or they go to their mortgage broker, and you know, the loans.com, to the customer, there, there's somebody that's very confident in what they do. And so they, they were never going to go to a mortgage broker in the first place. So we're going to jump online, and then we're going to do their research and do it themselves. So we actually see a lot more subsequent homebuyers in our space. So I think the customer of today is a little bit more more confident, they they're happy to jump online and do things themselves. And, you know, 10 years ago, primarily dealing with the broker customer, there was a concern that, you know, we're competing with with our broker business and, you know, a customer that goes online and does things themselves that then not likely to go to a broker in the first place. They're, you know, digitally savvy, that they're more confident with their finances, to, to jump home on and do a home loan themselves. And that's probably, you know, an older generation thing when it comes to the younger generation. I don't think there's any question you do everything online these days, so and there's so much information out there available that you can can do a lot of things yourself now, with confidence,

 

Blaize Pengilly  18:55

I suppose it's it kind of now, for I mean, as a millennial, if I can't do something online, and I don't really want to do it, if I can't go do if I need help with like my phone service provider, and I can't go on the chat and get an immediate response. If I can email a restaurant and ask them about booking a table or just anything from as simple as making making meal plans to making to getting a product or getting a gym membership or whatever it is anything in that realm. If I can't do it online, I just don't want to do it. So yeah, it must have been a little bit satisfying for you having the moment going, Oh, yeah. You know, online lending, seeing those people in the business that was sort of disbelieving that online lending would be the way to go and now having sexual successful business must be pretty satisfying for you going Oh, I'm so glad I did this and I got on the online train while I did.

 

Marie Mortimer  19:48

Yeah, it's been um it's been amazing. So I'm technically a millennial. I'm on the older side of millennial but yeah, my my husband's constantly getting into me about my online shoe shopping addiction. So But anyway, You learn about the online shoe industry, you can translate that to any industry including on it. So I'm doing research. That's what I tell him.

 

Dan Jovevski  20:10

Right. Now, if you want to get better, we managed to get money didn't get the WeMoney app today, just head to the Google Play store the Apple App Store, download the app. And if you use the referral code podcast, when you sign up, you get five bucks for just connecting any eligible bank account. So you do with the money? Well, you can see all your accounts in one place, if you've got an account with an IB account with a Commonwealth Bank, if you got an afterpay account, wouldn't be good to see that all in one place. tracking it worth, you can also access your credit score. And you can also join a passionate community of other people helping one another, get ahead within money. That referral code, again, is podcast, just head to the Google Play, store the Apple App Store and download the app now. Now back to the show.

 

Blaize Pengilly  20:57

Marie Indra, we covered off how you are passionate about helping women find their confidence in their voice in finance and banking. Why is that? Have you faced any adversity in your own career?

 

Marie Mortimer  21:10

I suppose it's not so much adversity is as much as being you know, very much, you know, sometimes only the only woman at the table. So starting back 20 years ago, when I did a finance degree, it was me and one other girl in the class, so and that shouldn't be the norm. And, you know, I think as I've gotten older, I've gotten more confident in myself, but the 20 year old Ray wasn't as confident in her ability. And, you know, I'm really passionate about this, I've got young kids myself. And if you want parity, at an executive level, it has to actually start at the very beginning during the school days, and you know, encouraging our young girls to take risks to do you know, stem, and really, you know, educate themselves in areas where there are there are viable and good paying jobs. And they're usually in very male dominated industries. But, you know, there's nothing, you know, nothing stopping a young girl and a young woman from entering those industries. So I think I'm just very passionate about that.

 

Dan Jovevski  22:15

So good. And like I think, being on the border for Australia, and there's other people that board you know, with you that are women, and of course, the year a big shot, Gabby, who's leading the helm at the moment. But I've just seen a massive increase in female FinTech founders over the course of the last 75 years, there's just been an absolute, you know, entry of just really talented people, people like Joel berry from pat a tree, and there's just endless, endless names here that I could probably go on. I mean, what do you think's happened to the industry because it used to be a really male dominated culture, but now it's transitioned to be, you know, much more egalitarian, much more inclusive. I mean, what do you think that's unique to sort of FinTech? Or do you think that it's happening more broadly?

 

Marie Mortimer  22:59

Yeah, well, I think it's a it's a cultural change, but FinTech is kind of at the forefront of all finance. So I think they kind of are doing things a lot sooner than the big guys are doing them and kind of leading the way you see companies like afterpay, doing that work by creating whole new product sets. So I think, you know, as an industry, we're very innovative. But at the same time, I think there is, there is a shift for sure, as new generations, you know, go up and enter into the workforce. And I think it's a mindset thing, like my husband was proudly telling me yesterday, actually about my son, Matthew, and they were talking about the recent space trip that I think Jeff Bezos went on and there was a female astronauts, an old one on that, on that trip, and NASA was asking, you know, how come you know all the ladies going, going to space and James was explaining to, to him that, you know, back, you know, when she was able to go to space that, you know, she wasn't allowed to go because she was a woman. And Matthew couldn't understand that he just turned around, looked at Jesus, let silly girls can do anything.

 

Blaize Pengilly  24:01

That's right!

 

Marie Mortimer  24:02

That's just like a really proud moment for me, because that's what we're teaching the next generation of boys and girls that you could do anything. And it doesn't matter where you from, and what you look like. And you know, if you're a girl or a boy, you can you can do anything. I think that that makes me proud that, you know, there's there's light at the end of the tunnel.

 

Blaize Pengilly  24:22

That is so awesome. That story has lasted a huge smile over my face. So that is so awesome. Yeah, and you can do anything. Marie, I have a question about open banking. And I don't really know much about open banking, so you'll have to forgive me, but with it just around the corner. Do you have any predictions on the way that this will impact the way that we get or manage our finances and loans in the future?

 

Marie Mortimer  24:50

Yeah, it's a game changer. And it's something you know, being in FinTech, Australia. I get to get to see it at the very, very beginning and it's exciting. So for your listeners, Then itself that the concept of open banking or the consumer data, right is that a bank holds the data on you, you own that data, and you have the right to share that data with whoever you want. So if you are with a lender and you want to move to another lender, it should be as easy as clicking a button and switching providers. And that opens up competition in Australia, in the lending space, there are online lenders, but there are some pretty big banks, the four main banks hold about 90% of all home loans in Australia. And the reason why, wow, yeah, no, it's massive. And the reason why people don't refinance is the perception that it's too hard. So if you could click to switch, you take the friction out of it all. And this concept of frictionless credit, it makes it easy for you to switch providers in the lending space, the home loan space, that will change things, but it's also not just home loans, there'll be electricity providers, phone providers, credit card, or they still exist in a few years time providers. flick the switch, so yeah, it's gonna be a game changer.

 

Dan Jovevski  26:00

Amazing. And what do you think we are on the Judy at the moment? Because we've got 17 banks accredited, and I know, the listeners out there, you know, they're thinking to themselves, what is it in banking? Can I touch it? Can I use a rod now? I mean, where are we are we in the early part of the journey and things happening in the next 12 months? Yeah, we're

 

Marie Mortimer  26:17

still pretty much in the early phases of the journey, we've gone from something that was very theoretical 12 months ago to going live in the last last few months. But we're still a long way to go. You know, treasuries just taken, taken over, taken over open banking and CDR, and they're trying to roll it out. And, you know, it's changing on a daily basis to make it easier for, for companies to be accredited or to to work with accredited companies. Because the more and more people that are on the platform, the better. The first calves at the rank were the four big banks, because it said they have most of the customers in Australia. And that's why they went banking first, because there's four banks that basically hold majority of the adult Australian population on their, on their books. So yeah, I think it's changing things. So what's happening today will be completely different in 12 months time and just stay on top of it and kind of keep moving in that direction, because it's coming.

 

Blaize Pengilly  27:15

This is pretty exciting. We it we talked about loyalty tax, and the friction of trying to change providers, whether it be like you say utilities, or whether it be a loan provider, or your your bank, or whatever it is. And we talked about how much money you can save when you realize that you might be paying loyalty tax back in Episode 27. So if you're listening, going, what is loyalty tax? Listen to Episode 27. Because Oh, my gosh, you are probably paying way more than you need to on a lot of your products. If you don't know what loyalty tax is, from the way that you describe it. I feel like a lot of the big banks are probably shaking in their boots going, Oh my gosh, we're going to start to need to offer better products for our customers, rather than just relying on loyal customers to stick with them based on their current products. Would you? Yeah, would you? Would you think they'd be shaking in their boots as well? Or do you think it's going to create a more competitive marketplace for the consumer where the consumer might end up winning? Because they will have more access to information?

 

Marie Mortimer  28:16

Yeah, I think it's definitely going to create a more competitive marketplace. And you can see what some of the banks are doing at the moment with the direction that their technology come with Bank of Australia is, you know, leading the way. I still think they're, they're possibly, you know, one of Australia's better fintechs because they've sat there. And this has been this concept over there. He's not new. It's been in the UK for a few years now. And you know, the big banks have the budget, and they've been watching what's been going on overseas, and they know what's coming. So you know, they're preparing themselves probably a defensive way to make sure that they retain market share. But at the same time, it does, it does open up competition widely. You know, last week, we saw afterpay afterpay money, and they did it by a Westpac bank. So it's a partnership there that they're working with a big bank. Now, a few years ago, nobody ever thought a big bank would work with a FinTech to deliver a product. But now we've got Australia's biggest FinTech working with one of Australia's biggest bets, biggest banks to to kind of launch a product, which I think it's good because, you know, the more people talk about it, and the more people think about switching home loan providers or switching banks, you know, the more that it happens, and it just, it's invigorating for competition,

 

Dan Jovevski  29:30

right. One of the really interesting things that I think contrasts what you're doing loans accommodate you, compared to what I've seen other in other places, is this focus on green loans. Right? It's a pretty weird concept, right? Can you make a loan green, can you make it red? Can you make it purple, but you know, your case, there's like a discount for taking up a vehicle that has less co2 emissions, told us about some of the products that you've innovated on and how you weave in the sort of green concept. We have,

 

Marie Mortimer  29:57

you know, a lot of different customers that I'm very conscious of the environment, and we're seeing, you know, a generational shift to, to younger customers really being purpose driven, and what they want out of out of a company and out of a product. So, you know, we A few years ago, we launched the green car loan, which was in partnership with the Clean Energy Finance Corporation. And we basically give a discount on a car loan, if it if it is a low emissions car, and there's a full list available on their website, if you are looking for, you know, a green car. And then in the last month, we've just proudly launched the green home loan. So we're working with, you know, customers that are constructing new homes and the constructing them to make them are rated Nate Nath is rated seven, which is like a national rating system for for homes. And, you know, they can work with their builders to ensure that they have, you know, the right air flows and different credentials to to make sure that their home that they're building a sustainable, and as a result, they get a really good discount on their construction loan from that. So there, you know, a couple of the green initiatives that that we've been working on.

 

Blaize Pengilly  31:08

This is super fascinating. I have not heard of the concept of a green home loan. Why has this not been done sooner? That is so awesome. I love things that promote sustainability and things that are things that are great for the planet, which is so awesome. It actually reminds me guys, I'm gonna go on a slight tangent here. But it's relevant. So please bear with me. Five years ago, no, in 26 Yeah, five years ago, in 2016, I did a news story on why first house build out of him, which is a sustainable building product. But the issue with the house was when I spoke to the builder and I spoke to the home owner, the issue with the house was is that they couldn't get a loan from anywhere to fund the building of the house. Because it because of the way that the banks and the credit providers set up their structure because it wasn't a traditional brick and mortar house, they found it really difficult to get funding, even though this house was cheaper and better for the planet. So I mean, that was five years ago times change pretty quickly around here. I don't know how long did you say the green home loan has just been announced? Yeah,

 

32:13

it's just launched? Yeah. Yeah. Awesome. Well, hopefully, we might see some more sustainable building practices come out of this and some change in the construction industry as well. Now that there is the green home. Yeah, and I think, um, you know, sustainability isn't just something that can be driven by by builders, or the finance companies have kind of the power power to do it. Because if you can drive it from the funding point of view, you can make a big impact. And, you know, working with the CFC FC is has been amazing. So yeah, it's been Yeah.

 

Dan Jovevski  32:45

Awesome. Absolutely. And very, as we get towards into the show, I want to talk about some books that look at your pressure on your life, if you want to think about you know, one or two books that you'd recommend to our listeners, that's had an impact on you. What comes to mind.

 

Marie Mortimer  32:58

So, you know, let's talk a bit before about confidence. And you know, the the 20 year old Marie versus the 40 year old Marina, and I love a book called The confidence code by Claire Shipman. Kay, I think the authors are, so it's all about women, and they need to stop being perfectionist, they need to start being risk takers. And it really explores how women are less confident with men. And it comes down to, like their belief in in their own ability. So we're taught from a very young age to be good girls, to color between the lines and be perfectionist, and that's not going to help us we need to take risks, and we need to learn how to fail. Because, you know, if you don't fail, you don't learn how to deal with failure in a in a very constructive way. And being you know, confident is really about overcoming your fear of failure. And I love that book. And they've got another book called The confidence code for girls and it's for teenage girls and younger girls to same kind of themes but written in a really girl friendly kind of way. So that's that obviously true books and other book if you like in that theme, grit by Angela Duckworth is a very good boy and Wolf Pack by AB Wambach. If you haven't read it, it's actually state she did it at a valedictorian event in the States. It's a short book, but very inspiring. Oh, and also I like to actually be treats but

 

Dan Jovevski  34:28

nice, very powerful stuff, right? That's an awesome set of books.

 

Blaize Pengilly  34:32

Those books sound amazing. And I think the confidence code that's a really great recommendation. I haven't read it myself, but I will add it to my list and I'll check in the show notes as well. So if you are listening, going, whoever those books, take a look at the show notes and I'll link to somewhere where you can find them. Marie, the confidence code sounds really great. And also, it just reminds me it just makes me think back to the story that you told us earlier. Right? You know, you started family business. A couple of people went so sold on Your idea and you took the risk you started the website and now you have a super successful business so good on you for having confidence confidence in yourself. And and taking that risk. I think it's it's really inspiring. Takes memory that is all we have time for. It's been so lovely chatting to you. If our listeners want to find out more about you, or loans that come to you, where should they go?

 

Marie Mortimer  35:22

They can definitely go to loans.com.au the call to action. I'm on LinedIn, I've got a website, Mariemortimer.com. Today, you But yeah, you can find me anywhere online.

 

Blaize Pengilly  35:36

Beautiful. I'll Chuck those links in the show notes as well. Marie, thank you so much for joining us today. I'm feeling inspired. And it was really fantastic to hear your story.

 

Marie Mortimer  35:45

Thank you so much for having me. And this is Yeah, a great podcast. So good on you guys. It's um, it's very exciting to be a part of it.

 

Dan Jovevski  35:51

Thanks. My pleasure to be with you.

 

Blaize Pengilly  35:53

See you later.

 

Dan Jovevski  35:59

Thanks so much for tuning in. We'll be back here next week.

 

Blaize Pengilly  36:02

Don't forget if you are looking to get better with your finances, download the free weed money app and use the code word podcast to make a budget of your very own and get $5 on signup when you connect an eligible bank account.

 

Dan Jovevski  36:16

Now if you think this episode or any other prior episodes that you listen to is going to help somebody in their own life. The best way that you can do us is sharing it with your friends and family.

 

Blaize Pengilly  36:27

Hit that like hit that subscribe button. And if you are feeling super generous, we would love to hear what you think of the show via Apple reviews. Otherwise, hit us up on Instagram, you can slide into our DMS our insert account is at @getWeMoney. And I'll put a link for that in the show notes. That's all from us this week. We will catch you next Monday for another installment of We Talk Cents. Have a good week. See ya bye

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Disclaimer:

The author is not a financial advisor and the information provided is general in nature and was prepared for information purposes only. This article should not be considered to constitute financial advice. Accordingly, reliance should not be placed on this article as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation.

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