MoneyPlace founder and CEO explains his journey
2001: Chooses ‘Mysterious’ Path
Stuart Stoyan took a strategy consultant post at Accenture upon graduating.
Working with leaders of major organisations on their most complex problems gave him useful insights into the challenges of growing and transforming businesses.
He went on to work in strategy for 10-plus years.
“I didn’t really know what I wanted to do, and ‘strategy consultant’ sounded mysterious and vague enough to be interesting.”
2007: Learns from experience
Stoyan took a year off consultancy to help James Smith, current CTO at MoneyPlace, scale and sell his web agency, Bland Consulting.
The business that acquired Bland Consulting overcapitalised, blew up mid-GFC and eventually shut down.
The experience taught Stoyan valuable lessons on how to grow a sustainable business.
2008: Solves complex problems
Having helped to successfully sell Bland, Stoyan returned to management consulting and joined Bain & Company, where he continued working with financial services clients to solve their most complex problems.
He was involved in large transformation projects and in implementing customer advocacy programs built around the Net Promoter Score.
2011: Crosses over to client side
Stoyan became head of strategy for NAB Business.
One of his proudest accomplishments was launching the bank’s commercial broker channel in under nine months. It has gone on to become one of the key growth drivers of NAB’s business.
“After a decade of being a consultant, it was awesome to be on the client side.”
2014: Launches Moneyplace
Stoyan left NAB and founded MoneyPlace, which gave him an amazing opportunity to not only help redefine how personal loans were provided in Australia but also to grow the country’s then-fledgling fintech industry.
In 2018, Liberty acquired MoneyPlace; together they’re bringing the latter’s award-winning personal loans to more brokers and customers.
“MoneyPlace is now one of the fastest-growing consumer lenders in the country, and I am immensely proud of what our team has been able to achieve.”
2015: Shaping growth of Fintech
Stoyan helped establish Fintech Australia, serving as inaugural board member and chair.
He also founded Australia’s leading fintech industry survey, Fintech Census, and was a member of the government’s Fintech Advisory Group and the Data Standards Body Advisory Committee.
“Over the past four years I’ve had the privilege of helping shape fintech policies, including on CCR and open banking.
We are in the midst of a once-in-a-generation opportunity to help reshape the financial services sector, and I am very grateful for my chance to contribute.”
2019 and beyond: Championing brokers
Stoyan hopes that in 10 years MoneyPlace will see one in every two personal loans being originated by a broker.
Its broker channel is now taking the lead in bringing in new customers.
Following the royal commission, MoneyPlace has seen a huge uptick in its brokers showing interest in diversifying and obtaining new accreditations.
“Australian borrowers struggle to understand which personal loan is best for them, and we see a very real need for brokers in the space. Broker penetration of personal loans is less than 1–2%; it is our mission to help grow the broker personal loan market to reach levels that are comparable to the mortgage space.”
“The insights that can be gleaned by asking ‘How likely would you be to recommend us and why?’ are so powerful that they help organisations unpick what drives customer loyalty”