Helen Gordon is the Chief Executive Officer of the Australian Finance Industry Association [AFIA]. Helen has been part of AFIA for several decades in various capacities and together with her team advocates on behalf of more than 100 leading providers of consumer, commercial and wholesale credit on a variety of laws which impact their operations. This has seen her involved in lobbying government at both the Commonwealth and State levels to ensure their policy development and regulation reform will have a practical and relevant application for the finance industry and its customers. Helen is a member of the Finance Industry Council of Australia and the AFIA representative on a range of government consultation groups including various Commonwealth Treasury, ASIC and ACCC Stakeholder Forums. She utilises her legal background together with her qualifications from the Australian Institute of Company Directors and involvement with Women & Leadership Australia in her role.
This distinguished panel looked at the much-discussed topic of how fair – or unfair – loans to SMEs had been.
Neil Slonim took the line that there needs to be more transparency on brokerage. Currently borrowers are getting put into loans that aren’t in their best interests because brokers re getting offered significant sums by fintechs.
Helen Gordon said that there have been positive steps made towards transparency and disclosure and the industry is making efforts to head towards a more transparent lending contracts.
Astrid Raetze noted that fintech lenders can and should do the right thing by SMEs and was optimistic about the future.
Anna Scott said that small businesses are time poor and often don’t have the lawyers to read through loan agreements.