Innovation underpins our business

We are delighted to have ranked #2 in the AFR BOSS Most Innovative Companies awards, in the Banking, Superannuation & Financial Services Industry.

Our entry focused on our CX2.0, our redesigned customer experience software, designed to deliver our customers awareness and understanding of their home equity and how it can be used – alongside any superannuation and pension entitlements – to enhance their retirement lifestyle.

“A house is not just housing, it can also provide funding “for life”, says CEO Josh Funder. That’s the central tenet of Household Capital’s Customer Experience 2.0 technology.
The technology allows customers to access scenarios showing how much they can get from their home equity, how much they can access now and how much they could access in the future. That’s coupled with purpose-based lending, for things like renovating a home or funding aged care.
“The… ability to genuinely access and understand home equity and the opportunity has been absolutely lacking from our sector,” says Funder.
“[Customer Experience 2.0] delivers awareness, understanding, access and trust.”

The Australian Financial Review, Friday 14 October 2022

One of the questions we were asked as part of the award submission was “To what extent do you think the innovation changed people's lives?”

Our response was to describe cases where our innovation actually transformed individual customer outcomes – we believe this truly demonstrates our impact. The examples we provided include:

• Adding $1,000 per month of reliable, long term income to take a retirement from basic to comfortable
• Providing access to capital to cover unexpected expenses
• Paying out a mortgage for a 64 year old who lost his job due to COVID
• Renovating a home to make it age appropriate for single women who don’t have access to capital or credit
• Replacing ageing vehicles, to ensure mobility and access to services
• Funding a range of medical needs, in-home care and meeting the high costs of aged care