Beforepay Group Limited's subsidiary, BPG Credit Pty Ltd, has obtained an Australian Credit Licence, enabling the company to issue regulated credit products.
This aligns with their strategy to launch new loan products with higher limits and longer durations, leveraging their data-driven risk modeling and automated digital lending capabilities.
The ACL reinforces Beforepay's commitment to responsible lending and will allow them to tailor credit offers based on customer circumstances.
CEO Jamie Twiss expressed enthusiasm about the licence, stating it will enable the company to offer a broader range of safe and affordable lending products to Australians.
Beforepay Group operates two business lines: Beforepay, a direct-to-consumer lending business, and Carrington Labs, which develops AI-powered loan portfolio recommendations and lending solutions.
ASX Code: B4P