Class announces new product integration
SMSF software provider Class has announced an integration with peer-to-peer lender RateSetter.
The new feature will enable users to directly receive RateSetter’s data feeds, allowing Class users to process transactions and view daily automated data entry.
It is a significant partnership considering the fact that 20 per cent of RateSetter’s $50 million in loans are from SMSFs.
“Given the historical low cash rates and ongoing uncertainty in world markets, there is a real shift in where SMSFs are looking to invest,” RateSetter head of business development Andrew Jones said.
“We expect to see continued growth from self-managed investors seeking stable, attractive returns.”
CEO of Class Kevin Bungard said the partnership demonstrates the growing desire of SMSFs to innovate.
“The RateSetter experience has shown that a significant percentage of SMSFs, which typically comprise older age groups, are very much on board with the concept, and [are] keen to embrace innovation.”