On Monday, Slovakia-based peer-to-peer lending platform Žltý melon announced it appointed Michal Milko as Head of Risk Management. Milko joins the online lender after serving as Head of Credit Policy at mBank Czech Republic and Slovakia, a Polish internet bank. He has also held several positions in Retail risk management in VUB/Banca Intesa and CSOB.
“FinTech firms are driving innovation in banking today and Peer-to-Peer lending is one of the most highly dynamic and successful business models. I am therefore happy that my next steps will lead into this area, where I can bring in my digital banking and credit experience.”
Roman Feranec, CEO of Žltý melon, then commented:
“We are very happy that Michal is joining our team. His in-depth knowledge and rich experience in risk management will be of great support in our forthcoming growth plans. After last year’s successful investment round and recent expansion of our operations into the Czech Republic, we have a strong ambition to grow further, including into new products. Michal will be great help in the realization of our strategy.”
Žltý melon also announced it formed a new partnership with real estate development company Lucron Development for the co-financing of new housing loans. The lender stated it has a similar commercial partnership is already running successfully in cooperation with the Cresco Group for the past two years and during just this short time already 25% of the group’s private customers have taken advantage of this new lending opportunity. Feranec added:
“We are delighted by the new cooperation with Lucron Development, which brought several attractive urban housing projects on the Slovak real estate market over the past several years. This new partnership sits alongside our ongoing cooperation with Cresco Group and allows us to offer our new innovative financial solutions to significantly more people. Our unique CashFree lending product will allow homeowners to finance the first down-payment for their newly acquired real estate property on very attractive terms. At the same time, it is an extremely attractive investment product for investors, as it offers both high returns as well as the added security provided under the innovative buyback guarantee, which covers the entire amount invested.”