ONLINE FINANCE APPROVAL AT YOUR FINGERTIPS

Technology Company Synergetic Services Limited has listed on the Australian Small Scale Offerings Board (ASSOB) and is raising capital so it can seek to revolutionise the future of online lending. The Company’s flagship product, ‘Synergy’ loan origination system is designed to allow consumers to obtain pre-approved personal finance online. Synergetic is seeking to raise $2 million via sophisticated investors on the ASSOB platform and will use the capital to fund the further expansion of the business and provide working capital for 2010.

THE SYNERGY ONLINE LOAN ORIGINATION SYSTEM

The ‘Synergy’ system empowers customers to obtain pre-approval for finance in a single internet session, without the need to visit a lender and with 24/7 access. This innovative loan origination system is seeking to revolutionise the lending market, by implementing a more efficient, user friendly application process that provides customers with real time application responses over the internet and importantly, fully supports compliance with the recent National Consumer Credit Protection Bill.

‘Synergy’ uses sophisticated identity checking, credit assessment and dynamic verification, granting customers conditional loan pre-approval, arming customers with choice and fast tracking the lending process.

For example, when linked with online-market sites, a person can select an asset; such as a new or used motor vehicle, apply for finance at the same time and receive immediate loan confirmation. The entire process occurs on-line and can be completed when the application is first initiated.

‘Synergy’ is a fully functional loan origination system that can be deployed as a hosted solution where Synergetic manages the software in production and provides ongoing software development and maintenance services or alternatively, the technology can be licensed directly by a financial institution.

SYNERGETIC’S STRATEGIC FOCUS

While the ‘Synergy’ system has many applications, across multiple markets, Synergetic will initially focus on consumer lending and in particular for personal loans used for the purchase of motor vehicles.

The $19 billion, vehicle financing and refinancing market, is the largest personal loan market in Australia. Synergetic is targeting this market segment because the online market for motor vehicle purchases has matured quickly ahead of other personal loan markets, such as real-estate. Consumers actively use websites such as carsales.com.au, carsguide.com.au or drive.com.au to locate vehicles they wish to purchase or sell and therefore the natural progression is to complete the transaction by combining the purchasing of a vehicle with the procurement of online finance.

Significantly, Synergetic is establishing arrangements with dealer and motor vehicle market sites to enable consumers buying vehicles on their sites to complete a loan application online in real time, be identified, credit checked and receive a fully decisioned offer and genuine price from a panel of lenders. No other technology in the world can provide consumers with this choice in real time today. These relationships form a platform for the roll out of the technology across a range of Australian and international point of sale market-sites.

NATIONAL CONSUMER CREDIT PROTECTION BILL

All lenders and brokers face the biggest change to credit legislation in over 30 years. The National Consumer Credit Protection Bill has just been passed by both houses of Parliament. The Bill requires all lenders and brokers to be accredited, licensed, disclose all fees, demonstrate responsible lending, and most importantly represent the consumer, or suffer the consequences at the hands of ASIC.

Synergetic complies with the Bill and its unique technology provides market sites with a compliant finance solution that provides consumers with choice, speed of approval, while providing lenders with automation, fast turnaround and compliance under the new National Consumer Credit Protection Bill.

THE AUSTRALIAN PERSONAL FINANCE MARKET

The total market for personal lending in Australia is $38 billion per annum, and has grown at a compound annual growth rate of 5.1 per cent over the last seven years. 70 per cent of market lending occurs through the banking sector and 30 per cent through non-banks. Conversely, 70 per cent of motor vehicle finance occurs through the non-bank lending channel. This provides a significant opportunity for Synergy in the online loan market to introduce its progressive technology, ahead of other competitors.

According to Andrew Meakin, Chairman, Synergetic Services,

“Once the Synergy loan origination platform is successful with cars and personal loans, it can be quickly expanded into areas such as home loans and international markets.”

“The key to the platform is looking at it through the eyes of the customer and making the whole experience very straightforward and logical.”

“The compliance safeguards in the system also made it an ideal way to cope with the looming tightening of consumer credit laws and innovations such as positive credit reporting.”

For further information please contact:

For more information please visit the Company website, www.synserv.com.au or the ASSOB website, www.assob.com.au/syn

ABOUT SYNERGETIC SERVICES LIMITED

Synergetic is a technology company offering innovative solutions focused on new markets and product delivery in the financial services sector, transforming and modernising the way business can be done.

Synergetic has developed the self-service ‘Synergy’ loan origination system. The system uses sophisticated identity checking, credit assessment and dynamic verification, granting customers conditional online loan pre-approval, arming customers with choice and fast tracking the lending process all in the comfort of your own home.

ABOUT ASSOB

ASSOB is Australia's largest unlisted securities platform that showcases investment opportunities in high growth unlisted companies. Currently the combined value of companies listed on ASSOB (based on last sale share prices) is in excess of $500m. Not only can you access early stage investment opportunities through the ASSOB platform, but you can buy and sell shares in other unlisted companies.

Inside there are investment opportunities available across a range of sectors including mining, energy, education, entertainment, green technology, bio technology, ITC and more. All companies listed on ASSOB are independently audited and subject to listing and disclosure rules that ensure ongoing disclosure and communication with stakeholders.

As many of these offers are made under section 708 of the Corporations Act 2001 (Cth) and in accordance with the Australian Securities & Investment Commission Class Order 02/273, by law you must be a registered subscriber to enter the site. Registration is free.