Simon Bligh | Early release super, payment holidays ending and banks sharing your data | Insights from illion

In this episode we welcome Simon Bligh, CEO of illion. illion is the leading independent provider of data and analytics to the largest industries in Australia and New Zealand, providing insights into the spending behaviour through leveraging their data on over 25 million consumers. Simon gives the wrap on the recent and controversial early access to super, breaking down who made it their fun fund and who took it seriously. Moreover, how the future of banking will be through the free flow of your data between commercial entities, leading the way to better rates and appropriate finance.Here’s what we covered:

• Should people be taking out their superannuation?
• How will early super withdrawal impact the economy?
• What items did people spend their super on?
• Can you use your super withdrawal as a deposit?
• Will our spending habits return to normal post Covid?
• How big has the renovation industry become due to Covid?
• How much of the property market is mortgaged?
• What is your credit score?
• What can you do to improve your credit score?
• Will open banking benefit you?
• Will the future of banking charge rates based on the consumers repayment reliability?
• How open banking and data rights will change how you apply for finance in the future.

This weeks Dumbo

• Knowing that you should refinance but never actually going through the process

RELEVANT EPISODES:Episode 123 | Martin North Episode 126 | Stuart Wemyss Episode 132 | Mark McCrindle

GUEST LINKS:Alphabeta - illiontracking creditsimple.com.au

HOST LINKS:Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Send in your questions to: questions@theelephantintheroom.com.au

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded in August, 2020.

https://www.theelephantintheroom.com.au/podcasts/141

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