Athena is delivering a better value mortgage to borrowers and investors alike. Athena is powered by Australia’s first cloud-native mortgage platform, radically simplifying the mortgage value chain and delivering breakthrough efficiency, client experience and agility.

Athena is building toward improved customer lifetime value and aiming to cut costs by 70% versus big-bank legacy processes. The savings are passed back via great mortgage rates for borrowers and superior returns for investors.

Athena was founded in July 2017 by Nathan Walsh and Michael Starkey. Since public launch in February 2019, seamless digital experience and highly competitive interest rates have resonated with customers as Athena received more than A$7.5 billion of applications in its first 18 months of operation.

Athena is led by an executive team with deep experience in financial services and delivering innovative customer propositions. The company is backed by a leading group of strategic partners including Macquarie Bank, Square Peg Capital, Hostplus, AirTree, Resimac, Apex Capital and Rice Warner.

Athena competes head-on with major Australian banks for prime mortgages in capital cities and major regional centres. Loans are strictly lower than 80% LVR with restrictions on postcodes and apartment lending.

A focus on super-prime mortgages coupled with tight operations has resulted in very strong performance in light of the challenging economic circumstances. To date, Athena has seen no arrears beyond 30 days past due while loans in COVID-19-related payment moratoriums represent less than 0.5% of the total book.

Athena has developed a flexible funding model backed by a funding-aware platform that can cater to different types of wholesale investor and provide them with real-time portfolio reporting.

Athena has established four separate warehouse facilities with major domestic wholesale banks and one foreign bank. Support from existing investors remained strong through the recent market disruption and has recently been extended. The company is well progressed in its strategy to diversify its funding sources, with new institutional mezzanine investors coming on board and significant interest from other institutional buyers seeking to acquire loan portfolios.

The group is aiming to progress toward a first public RMBS deal in 2021 and continues to build out products designed to allow a broad range of wholesale investors to access high-quality mortgage assets directly.

Michael Starkey
Chief Operating Officer
+61 412 232 082
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Neil Murchie
Chief Investment Officer
+61 412 801 765
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www.athena.com.au