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About Beforepay Group

Beforepay Group is an ethical-lending fintech founded in 2019 to create safe and affordable lending products.

We operate two business lines: Carrington Labs, which builds and deploys AI-powered loan-decisioning systems and high-efficiency lending platforms, and Beforepay, our direct-to-consumer business.

Our commitment to supporting individuals who have not been well-served by the traditional financial services industry has led to widespread recognition in the financial services industry. Beforepay Group, Beforepay and Carrington Labs have each been named finalists and winners of various awards, including: 

• Ethical Lender of the Year 2024 APAC - Beforepay Group, Ethical Finance Awards, Wealth & Finance International 
• Best AI-Powered Ethical Lending FinTech Platform 2024 - Carrington Labs, International Business Magazine Awards, International Business Magazine
• Leading Provider of Ethical Products Australia 2024 - Beforepay Group, International Business Magazine Awards, International Business Magazine 
• Ethical Lender of the Year Australia 2024 - Beforepay Group, International Business Magazine Awards, International Business Magazine
• Best Use of Artificial Intelligence (AI) in Fin-tech Australia 2024 - Carrington Labs, International Business Magazine Awards, International Business Magazine 
• Best App-Based Lending Company 2023 Australia - Beforepay, APAC Business Awards, APAC Insider 
• Best Ethical-Lending FinTech 2024 - Beforepay, APAC Australian Enterprise Awards 2024, APAC Insider 
• Most Innovative Ethical Lender of the Year 2024 - Beforepay, APAC Australian Enterprise Awards 2024, APAC Insider 
• Finalist - Best lending innovation - Beforepay, Finder Innovation Awards, Finder 
• Finalist - Best online customer service innovation - Beforepay, Finder Innovation Awards, Finder 
• Finalist - Australian Growth Company Awards - Financial Services - Beforepay, Australian Growth Company Awards
• Finalist - Excellence in Consumer Lending - Beforepay, The Finnies, FinTech Australia
• Ethical Lender of the Year 2023 - Beforepay, PAN Finance Awards, PAN Finance International 
  

 

Beforepay - Ethical Lending

Beforepay set out to disrupt traditional predatory lending practices with an ethical, customer-friendly alternative for managing temporary cashflow challenges. 

Our flagship product is the Pay Advance, which advances eligible customers with small loans (c. $300-400 on average) over relatively short periods of time (c. 3 weeks on average), to help customers through a short‐term challenge. The product allows eligible customer to access loans of up to $2000 for a fixed 5% fee, with no interest, late fees or other hidden costs. The Pay Advance offers a simple, transparent, and affordable fee model designed to give our customers total control and an ethical loan option to tide them over while living within their means. 

We know that customers demand immediacy, which is why speed and convenience is core to our product. Our proprietary machine‐learning credit decisioning models work in seconds, whilst funds are deposited through NPP payment rails into customers’ bank accounts nearly instantly. 

Use of sophisticated technology makes the onboarding process seamless; customers can download the app, sign up, be assigned an appropriate limit (which is based on a number of factors like income and spending), pass thorough KYC checks, and have the money in their account in as little as 5 minutes.  

To ensure that Beforepay is genuinely an ethical, customer‐friendly alternative to traditional financial products, we have put in place a number of safeguards. These include eligibility requirements and risk‐scoring based on transactional behaviour. 

We take customer feedback seriously to ensure our safeguards are appropriate and our product is helpful. In addition, we have a free budgeting tool and spending insights in the app to assist our customers in managing their cash flow. 

 

Carrington Labs - AI Credit Risk Scoring & Loan Management

Carrington Labs is a leading provider of explainable AI-powered credit risk scoring and lending solutions.

Its mission is to empower lenders and financial institutions with advanced tools and insights to make smarter, faster and more informed lending decisions, fostering a more robust and inclusive financial ecosystem.

For more information, visit www.carringtonlabs.com.

 

Beforepay Group values

Customers ride first class 

Customers are at the centre of everything we do, helping to shape our future.

Be the best

We're passionate about excelling; being leaders in our space and celebrating the wins this delivers.

Human first 

We are human first and we operate and communicate with respect.

Give it a go 

We encourage everyone to speak up and think of new solutions to old problems. Mistakes can happen and are opportunities to learn.