Umi stretches GE brand

GE Capital will promote a new brand - Umi - in a bid to drum up more demand for personal loans.

The dedicated website for the new brand (umiloans.com.au) aims to provide speedy decisions and funding for loans of between $3000 and $15,000 for terms of up to seven years. Applicants can complete the process wholly online.

GE will back the new brand with its biggest recent investment in consumer marketing over the coming weeks.

Another lender with similar ideas, on the product front at least, is Commonwealth Bank. CBA is pushing same-day approval - and even same-day funding for personal loans - this week, as part of the launch of its new brand positioning.