InfraRisk Pty Ltd. (InfraRisk), a leading fintech solutions provider 
specialising in digital lending and risk management, today announced it has 
launched a Wage-on-Demand lending platform for Wagepay Pty. Ltd. (Wagepay) in 
Australia. 

Wagepay is an Australian fintech startup that enables customers to immediately 
get a portion of their earned wage on demand. The product is powered by 
InfraRisk's end-to-end and modularised digital lending platform that harnesses 
the power of big data analytics, artificial intelligence and machine learning 
technologies for real-time lending and risk management.

"Infrarisk is pleased to help Wagepay launch its product into the market in 
less than 8 weeks from inception, leveraging our mature technology platform and 
extensive finance experience across the world," said Tony Chan, Vice President 
of InfraRisk. "By giving Wagepay the ability to leverage big data and AI 
enhanced risk models from day one, we strive to deliver unique competitive 
advantages for our customer over the competition." 

Wagepay is an alternative to traditional payday loans. Quite different from 
payday loans, it will be a lifestyle product to simply help people access what 
they have already earned at their fingertips, anywhere and anytime, and spend 
on anything they want – similar to buy now pay later, but with their own earned 
money and with any merchant.

With Wagepay, applicants need only to take three easy steps to get their money 
on demand, at a quarter the cost of what payday lenders charge. They also do 
not have any late or default fees, and the whole online application process 
takes only 5 minutes.

Behind the game-changing business is a highly sophisticated digital lending 
platform delivered by InfraRisk, with risk management at the core of the whole 
lifecycle, and a streamlined process and data integration capability to 
automate KYC, bank statement analysis, and real-time payments.

"It is great to see InfraRisk deploy our digital lending platform to support 
another innovative business model. Whether it be a wage on demand product, or 
financial services around buy now pay later, consumer or commercial finance – 
our systems and business experience enable the sort of agile deployment and 
delivery of best practice in automation, big data analytics and AI that are 
essential for the success of financial institutions large and small, be that in 
Australia or across the globe," said Nicholas Davies, founder and CEO of 
InfraRisk. "Our configurable and modular solutions have a proven ability to 
deliver highly automated, cost effective credit management capability in 
multiple segments and markets."

Incorporated in November 2008 and headquartered in Melbourne, InfraRisk has 
over 10 years of experience in providing financial technologies to banks and 
financial institutions in Australia, Europe, China and across the Asia Pacific. 

About InfraRisk

InfraRisk is a leading fintech specialising in digital lending solutions. 
Incorporated in 2008 and headquartered in Melbourne, InfraRisk has over 10 
years of experience in providing financial technologies to banks and financial 
institutions in Australia, Europe, China and across the Asia Pacific. 
Leveraging its scalable and reliable technology infrastructure and deep 
industry insights, the Company offers its partners a full suite of customized 
end-to-end solutions, ranging from personal loans, buy now pay later, SME 
loans, corporate & commercial loans, and wealth management. For more 
information, please visit www.infrarisk.com. 


SOURCE: InfraRisk