From new partners and staff to friends and family, we get it a lot.
Is it “No-di-fee”, “Node-e-fee”, or even, “Notify”? Who exactly do you notify, and of what?
In this article, we take a look in the mirror.
Firstly, it’s “No-deh-fy”
And, despite the similarity with the word ‘notify’, Nodifi doesn’t actually relate to the verb.
The name Nodifi comes from two words; node and finance.
Comparable to adding finance with technology to get ‘fintech’, ‘node + finance’ equals ‘Nodifi’. That’s why it’s pronounced with a ‘d’ (Nodifi) and not, notify.
As a founding fintech, Nodifi had (and still has) a strong focus on connecting borrowers, brokers and lenders as efficiently as possible, with technology at the heart.
With that in mind, featuring ‘node’ within the trading name made perfect sense. A node is also featured in the Nodifi logo.
In computing, a node is a connection point within a network. These connection points (nodes) can receive, send, create, or store data. A modem is one such example.
Just as a node brings users and devices together within a network of computers, Nodifi brings borrowers and finance together within a network of brokers and lenders.
Our knowledge bank, lender resources and data-driven marketing solutions further solidify Nodifi’s ‘node-ness’. The ability to receive, send, create and store data is crucial to both our and our partner’s success in the asset finance space.
The goal? To simplify finance.
Nodifi, the early days to the now
So just how did Nodifi come to be? There was a noticeable lack of tech driven asset finance solutions that allowed mortgage brokers to easily diversify into the asset finance space.
The issue: inability to efficiently transact asset finance and subsequently, offer asset finance products to consumers.
The solution: Nodifi
However, while that is true, the idea (or the first iteration of ‘Nodifi’) came even earlier.
An idea was evolving around developing and distributing a ‘kiosk’ type solution to automotive dealerships, that would allow customers to complete a loan application via a self-serve kiosk. At the heart of that technology would be a loan origination platform that would later transpire to be Nodifi.
This idea was launched as ‘Finance-App’, which was a digital application and quoting tool that enabled dealerships without a business manager to offer finance to their customers.
While the kiosk technology was put on hold, the loan origination platform continued to gain momentum, this time with the angle to support the mortgage broking industry.
Designs began forming to build a loan origination platform, a solution that would allow referral partners (dealerships and mortgage brokers) to submit asset finance applications (amongst other features), to a number of lenders, all within the one platform.
The designs were then put into development and in March 2017, the ‘Lightning Platform’ launched to market – Nodifi’s first loan origination platform.
A short 6 months later, the ‘Lightning Platform’ name would make way for ‘Nodifi’, following an internal brainstorming exercise and final poll.
As seen in the poll below, the original names suggested were Fi-Node, or even just Node. This then evolved to Nodeyfi, and eventually became Nodifi.
When Nodifi was launched, the goal was to disrupt the market by providing a truly transparent platform and service, something that wasn’t necessarily available previously. When Nodifi was announced as the 2018 Innovator of the Year at the coveted Australian Broking Awards, the recognition was an indicator of achieving that goal.
But, not resting on those laurels, Nodifi started down the path of rebuilding the technology from the ground up to ensure it had the best chance to truly succeed with their ambitions.
Further accolades were to follow in 2020 and 2021, including (group categories), technology platform of the year, best industry service, and individual categories, CEO of the year, top 40 under 40 and best BDM.
A refreshed brand was launched to market to better highlight Nodifi’s fintech roots and highly-revered support team. It also saw the rollout of Nodifi’s new and improved loan origination platform, built to provide greater flexibility for partners, and paving the way for new-to-market products.
The rest of the story is yet to be written…