The Moneycatcha team is a collection of experienced mortgage data, technology and risk process specialists, who developed and implement the Regchain platform for their customers. The suite of Regchain products support the real time offer of home loans to consumers and improve risk management for financial organisations . Below, Ruth Hatherley, founder of Moneycatcha, shares her business journey, what the team are currently working on and what they love about being a part of the Spacecubed community.
When asked how her business journey began, Ruth discussed her experience working in the banking and broking industry for almost 20 years, stating how she became increasingly frustrated that each step of the mortgage origination process was being supported by new digital services.
She realised that for too long, customers have been faced with long and complicated home loan processes that leave them frustrated and confused, and somehow, the introduction of new digital solutions weren’t yet making an impact.
“I figured that there had to be a better way, which is when I founded Moneycatcha.”
“Following this, I was armed with a clear idea of how to revolutionise the process to really make a difference for all Australians. With no technology or startup experience but with my domain expertise, determination and unique vision, I set my sight on creating one of the first globally adopted blockchain solutions in the loan origination and compliance space, the Regchain platform.” Ruth continued.
In May 2022, the company released the Regchain platform’s first commercial product- Stryd. Stryd is a product that champions trust and transparency in the home loan ecosystem, creating a win for financial institutions and consumers alike as it takes the uncertainty and complexity out of obtaining a home loan - resulting in a ‘faster time to yes’ for lenders and consumers.
When asked what the team is working on at the moment, Ruth shared her thoughts.
“This quarter, the Moneycatcha team has been working on 2 major strategies to support our growth phase. Firstly we’ve released our Stryd for Broker product to the mortgage broking industry as part of The Adviser Magazine Better Business Summit held in 5 cities across Australia. This has been a huge success with brokers signing up to become customers in Qld, WA, SA & NSW, with more expected at the last conference in Melbourne this week. The second strategy has been to build proof of concepts and/or integrate our solutions to create bespoke offerings for our partners at 4Impact, Adatree and AWS so their customers can take advantage of our Stryd for Lender product.
When asked what the team love about being a part of the Spacecubed community, Ruth shared that they all love the vibe in the office space, and the fact that everyone is friendly, helpful and respectful of each other.
When asked what one of her favourite success stories is, Ruth shared the following.
“22 years ago, I joined a bank as an entry clerk. I had some key senior people believe in my talents and I really found a calling in finance. Over those two decades, I observed how stressful the home loan process was for both the customers and employees of banks. With the technological advances in the 21st century, I knew there had to be a better way.”
“In 2015, as a single mum, I backed myself and invested my life savings into developing and patenting new technology that reduces the home loan process from 42 days to potentially 5 days. After numerous iterations, our Stryd platform was created, where Stryd drastically helps reduce the time frame from a submission to unconditional approval which is about 26 days. With the right adaptation and usage of Stryd it's possible to reduce that to zero days.”
"Having that vision become a reality is a huge success. I'm incredibly proud of the platform capabilities and the amazing team that has been integral in its creation. As a result of this experience, I believe I am making a difference and being the best role model possible for my little girl and everyone around me. Now we have a really engaged team, group of partners and investors and that's the biggest success for me - seeing it all finally align, preparing us for the growth we've been chasing for so long." She concluded.
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