Consumer lender MoneyMe has refinanced an A$80 million Australian Office of Financial Management investment in its warehouse. The company announced a funding restructure yesterday, upsizing its warehouse, Horizon 2020 Trust, by $108 million to $338 million, with the introduction of new mezzanine note holders and an increased major bank senior note commitment. It also issued $7 million under a corporate bond program.

 

ASIC has released a reference checking protocol for Australian financial services and credit licensees to follow when hiring staff. The Hayne royal commission recommended that reference checking in the industry be improved, and the new protocol gives effect to that. Obligations under the protocol commence on October 1.

 

Business finance company Earlypay has formed a partnership with global foreign exchange and trade finance provider Ebury to offer a wider range of finance products and foreign exchange services to its clients. Ebury claims to be the biggest provider of trade finance to small and medium businesses in the world, with offices in 20 countries. The first offering under the partnership is Earlypay FX, which will give Earlypay’s customers access to Ebury’s FX payments and risk management services.