Athena Home Loans
Awards and Accolades:
- 2021 Most Innovative Company Overall
- 2021 Most Innovative Banking, Superannuation and Financial Services Company
Innovation Name: AcceleRATES
Awards: Most Innovative Banking, Superannuation and Financial Services Company
Athena Home Loans’ AcceleRATES empowers customers to drop their own rate by gamifying the goal of paying down their home loan. It’s a dynamic pricing model that rewards customers for paying down their loan with lower rates.
There are no special conditions or costs associated with AcceleRATES. It applies automatically across all products and customers don’t need to do anything. They receive an email congratulating and encouraging them to keep repayments the same to pay down their loan even faster.
Since launch, almost 400 customers have dropped their own rate. On average, customers are saving $56K over the life of the loan, with 15% saving over $100K. 80% of our customers are ahead on their repayments with the average customer 3 years ahead.