Cummins&Partners Sydney have won the new online-based fintech company Lodex.
The name is shorthand for Loans & Deposits Exchange. Lodex aims to flip the financial services industry on its head by shifting the negotiating power to the consumer and giving financial service providers the chance to interact with potential customers in a way never before offered in Australia.
“Lodex is an Australian-first loans and deposits marketplace that puts the power into the hands of the consumer. It’s an agnostic exchange that allows financial services providers to come to you, the consumer, to compete for your loan or deposit,” said Mic Phillipou, Co-Founder & Executive Director. Instead of following the usual straight retainer arrangement, the agency is also putting skin in the game by taking equity in the company. “An agency’s IP is something that should be highly valued. It’s what defines us as an industry. This approach, where we take equity in a business, in some ways is a better expression of the value we bring,” says Julian Schreiber, Co-ECD of C&P Sydney.
“Collaborating with start-ups to co-create businesses and brands in the tech space is energising and full of potential. It’s where we want to play more in the future,” says C&P Sydney Managing Director, Dan Ingall. C&P Sydney has been heavily involved from the beginning, including product development, brand strategy and design, UX and web design as well as the overall go-to-market and integrated comms launch programme including media planning and buying.
The pre-launch phase kicks off this week with an intro film inviting registration and will be followed by the official launch in August. “This film needs to capture the sense of possibility Lodex can offer in a way that grabs your attention and builds intrigue around the unique offer,” says Tom Martin, Co-ECD of C&P Sydney. “A man bathing in money should do the trick,” he added.