Stryd, a Perth-based fintech firm and a flagship brand of Moneycatcha, has appointed Cheok Lee (pictured above) as head of product.
This move comes as part of Stryd’s ongoing efforts to enhance its data-driven solutions in the Australian mortgage market.
With a robust background spanning over a decade in banking, payments, and fintech, including key positions at NAB and Visa, Lee brings a wealth of experience to his new role at Stryd.
Stryd’s platform enhances lending risk assessment and pricing while helping organisations meet complex regulatory compliance, including ASIC’s product design and distribution obligations.
Lee’s career also includes significant stints in the UK working with fintech scale-ups like Freetrade and Moneybox, which leverage open banking to offer cutting-edge financial services.
In his new Melbourne-based role, Lee will work closely with Ruth Hatherley, founder of Moneycatcha, to enhance Stryd’s product roadmap. This follows a $1.5 million funding boost in August aimed at capitalising on opportunities from the CDR reset to deepen market penetration.
“We’re excited to have Cheok filling this newly created position at Stryd,” Hatherley said. “With his strong background in open banking and fintech, and passion for product, he’s a great fit for our team.”
The recent reduction in interest rates has heightened the competition among lenders and the urgency for mortgage brokers to secure their trail books against refinancing risks.
Following the Reserve Bank’s cut of the OCR to 4.1%, Australian banks quickly announced rate reductions for mortgage holders, promising nationwide financial relief as soon as this week.
“The recent rate cut means that every borrower has interest rates top of mind and lenders are sharpening their pricing,” Hatherley said, emphasising the timeliness of Lee's appointment.
Lee will partner with Travis Hurst, Stryd’s head of delivery, to drive the deployment of new features and capabilities.
“With the help of Travis in the delivery role, I’m looking forward to getting more great features and fintech capabilities into the hands of mortgage brokers, aggregators and lenders,” Lee said.
With the anticipated further rate cuts and the ramp-up of CDR in 2025, Stryd is positioned for a significant year ahead.
“With further interest rate cuts predicted later in the year, and CDR ramping up, 2025 is going to be a big year for Stryd,” Hatherley said.
