Finkey Capital Segmentation (Target Market) Determinations
This Credit Reporting Policy (and the Finkey Statement of Notifiable Matters) applies to Finkey Capital Pty Ltd (ABN 37 662 168 916) (referred to in this policy as ‘Finkey’, ‘us’ ‘we’ or ‘our’).
Finkey Capital Pty Ltd ABN 37 662 168 916, an authorised holder of Australian Credit License (ACL) No. 550288.
Date of Issue:
Relating Credit Products:
20 October 2023
Finkey’s unsecured green loan (credit) product and payment plans (zero-interest green plan) provide zero-interest payback and competitive interest rates and for various green, sustainable, and efficient home improvements to help Australian homeowners and their families live sustainably.
Finkey’s platform and product offering will assist homeowners with making investments on their property with financial products. Finkey’s products will help homeowners by reducing the capital requirements and cash flow burden of ‘going green’ through the amortisation and deference of upfront costs with easy, predictable fortnightly repayments. The credit products and payment plans are for the eligible purchases of goods and services, including green renewable energy technology, energy-efficient products, or sustainably sourced and manufactured materials,
Finkey’s three core Green Personal (Home improvement) Loan products:
Finkey’s main interest-free product is a BNPL product assessed for serviceability and credit:
This Segmentation (Target Market Segmentation) document does not provide financial advice or stand to interpretation as a customer disclosure document. And should not be interpreted as an overview of Finkey’s product terms, conditions, or features.
It aims to provide authorised or accredited organisations (Vendors, tradespersons, installers, builders, project managers, product manufacturers and distributors, retailers) and their consumers (Borrowers of Finkey) and third-party service providers an overview of related financial and credit products to Finkey’s consumer segments. The suitability of products to the target market is cognisant of their segmentation, which includes individual objectives, financial situation, goals and needs.
The documents are found on Finkey’s website https://finkey.co and presented electronically before credit is issued.
Copies can be requested by contacting the customer service team at: email@example.com
Borrowers must carefully review the terms and conditions of Finkey’s financial and credit (loans) and, if unsure, consult a financial advisor to determine whether the type of loan suits their specific needs and financial situation.
Prospective Borrowers must follow a set of rules that pertain to Finkey’s internal requirements to be eligible for finance through us. This involves but does not exclude having engaged a Finkey-accredited Vendor, conducting a project or home renovation that involves installing or incorporating renewable or green technology, sustainable materials or any other improvement or inclusion that increases their home energy efficiency.
Finkey’s Key Target Market and Segments
The Green Renovation, Project or Repair Loans are designed for borrowers with the following market attributes:
Borrower needs, objectives and financial situation of the Green Loans are appropriate.
Homeowners or joint applicants*, where one borrower is the homeowner (listed on title) and requires funds for green technology and renewable energy installations/projects or home improvements that incorporate sustainable materials, technology and any increase or upgrade in home efficiency as part of a home improvement:
*In situations where joint applicants are married or de facto, where the spouse from where servicing income is derived is not listed on the title, the joint applicants must provide proof of residency together or a document that proves their relationship status, i.e. marriage certificate, tax assessment etc.
The Green Loan is designed to finance home improvements, including renovations and repairs incorporating green or renewable energy generation technology, sustainably sourced and manufactured materials or other goods or services additions or upgrades that make a material effect on home energy efficiency or sustainability. The loan can cover the renovation or project’s cost, including labour and materials, at a tailored fixed interest rate proportional to the applicant’s credit profile and considering their financial circumstances.
These types of loans are generally suitable for customers looking to undertake more extensive, invasive, and varying green projects and energy-efficient home improvements, some of which include but are not limited to: installing solar panels or hot water during a bathroom renovation; upgrading to energy-efficient appliances during a kitchen renovation; making other energy-saving improvements such as upgrading electric stoves to induction cooktops; installing double glazed windows; or utilising FSC timber into cabinetry, decking or roofing.
Finkey’s zero-interest product, the 0% Green Payment Plan, is suitable for only renewable energy generation installations (solar, battery, inverters, or wind) and other technology installations or upgrades through a Finkey Network Vendor.
We incentivise Australian households to live and borrow sustainably by offering preferential green rates and carbon offset incentive schemes for most green renovations and green technology projects. An outline of how the system works, including Finkey’s Carbon Awards eligibility criteria, can be found on Finkey’s website.
Depending on the specific project, benefits of green technology installations or renovations may include government subsidies, incentives or reduced utility bills.
It is important to note that while Finkey’s financial products are designed for personal, domestic, or household purposes, borrower eligibility and final terms are contingent on our credit policy.
Borrowers financing projects that are:
Zero-interest Green Payment Plan
Finkey financial products will not be suitable for individuals who:
Accredited organisation for the project and installations:
A Finkey Accredited Tradesperson is a qualified and certified tradesperson, builder, project manager, product manufacturer, retailer or certified installation organisation approved by Finkey.
Customers must engage and select a relevant tradesperson out of Finkey’s Network Vendor databse in their servicing area or have their preferred tradesperson (only when applying for Green Loans) become an accredited organisation (Vendor) with Finkey.
Finkey Green Loan is restricted to the following uses:
Undertaking a green or sustainable project or renovation as defined under Finkey’s ‘Green’ eligibility criteria.
The goods and materials delivered, installed/managed for the project or renovation are by an organisation onboarded as a Finkey Network Vendor or accredited/authorised organisation by Finkey (Vendor).
Vendors (organisations or individuals) will not be approved as Finkey Network Vendors if they do not hold the relevant licences, qualifications and recognitions.
Applicants must be borrowing for one or more of the following:
Renewable energy technology and components must be registered and approved by the Clean Energy Council (CEC) and listed under the CEC’s relevant database. Other technology products and services must be recognised under the Victorian Energy Upgrades (VEU) Program.
Vendors will be recommended to become NETCC-approved (National Energy Tech Consumer Code) upon onboarding.
Distribution of Finkey’s Green Loan
Finkey Capital applies the following conditions and restrictions to the distribution of the Green Loan products so to ensure the product is likely to be provided to customers who meet the criteria for the credit product or the segment Finkey is pursuing in its Sales, Marketing and Distribution Strategy.
Green Loan suite of products can only be distributed by partners of Finkey:
Sales distributors or possible regulated entities/persons that encounter complaints or disputes must provide Finkey Capital with the following information.
Information required by Finkey from distributors
Scope of reporting
All complaints made in relation to the Finkey finance product(s), including:
When to report:
Every six months
How to report:
Communication detailing the nature of the complaint should be addressed to: Manager, Risk and Compliance, by email at:
All significant dealing concerning the Finkey Unsecured Personal Loan and the contents of this document and its nature.
When to report:
Immediately or no later than ten days after awareness or evidence of the significant dealing.
How to report:
Reports must be made to the Manager, Risk and Compliance at: firstname.lastname@example.org
Version and Review Control
Finkey Segmentation (Target Market) Determinations
Date Last Modified:
Initial Review: Within 12 months of the date of this document.
Ongoing Review: Within 12 months of the date of the previous review.
Finkey will review the document if one or more of the following events occur where they reasonably suggest that the document is no longer appropriate:
Next Review Date:
Risk and Compliance
Document Based On:
Credit Policy & Internal Eligibility Policies and Procedures
Version and Revision History
Amendments to scaffold
Content additions, review and first version
Author to be redacted upon document’s issuance publicly.