Banjo Loans appoints new CTO as co-founder steps down

Banjo Loans (Banjo) has announced the appointment of Craig Rowe as its new chief technology officer (CTO), replacing the SME lender’s co-founder and long-serving CTO, Julian Hedt.

Rowe brings more than 30 years of experience to the leadership role, including a 12-year stint as chief information officer (CIO) at debt collection firm recoveriescorp.

Commenting on the appointment, Banjo CEO Guy Callaghan said the transition represents both a significant milestone and a strategic opportunity for the lender.

“Julian has been a foundational member of Banjo and built the system that underpins our business today. His contribution has been enormous,” Callaghan said.

“At the same time, this is a natural evolution for us. As we continue to grow, we need to strengthen how we deliver technology, scale our teams and bring more rigour to execution.”

Callaghan also cited Rowe’s experience scaling technology teams and navigating complexity.

“Craig brings a future-focused mindset, with deep experience in building and structuring technology functions for growth,” he added.

“We’re particularly excited about his ability to enhance delivery discipline, strengthen team capability and help us continue evolving our technology, including opportunities in areas like AI.”

Meanwhile, Rowe said he was drawn to Banjo by its growth potential, culture, and strong alignment with his own experience.

“Banjo is at a really interesting point in its journey,” he said.

“The business has achieved a huge amount in startup mode, and now it’s about evolving the technology, processes and systems to support sustainable growth without losing that agility.”

His remit will include initiatives to improve delivery capability, scale the technology function, and enhance customer experience for all existing and new SME customers.

“There’s a significant opportunity to create a more seamless, frictionless experience for customers and brokers,” he said.

“At the same time, we’ll be focused on increasing the velocity of change. From delivering more, and delivering it better, while continuing to evolve our platforms.”

He also flagged the increasing role of emerging technologies.

“There’s huge potential for AI across every part of the business. From software development through to customer experience and credit processes,” he said.

“The opportunity is to apply that in a way that delivers real value, not technology for its own sake.”

Changing of the guard

Rowe’s appointment marks the start of a new phase for the SME lender, with co-founder Hedt set to depart the non-bank.

The lender paid tribute to Hedt’s role in designing and building its proprietary lending platform since inception nearly 12 years ago, noting that under his leadership, Banjo developed a fully bespoke system capable of delivering fast, data-driven lending decisions for Australian small and medium-sized businesses.

“The goal was always to make it simple for customers and brokers, while managing significant complexity underneath,” Hedt said.

“We’ve built a platform that allows multi-million-dollar lending decisions to be made in hours, not weeks and that’s been a real differentiator.”

Hedt also said the business is well-positioned for its next phase.

“We’re at the stage where the foundations are strong, the team is experienced, and the platform is proven,” he added.

“Craig brings the experience to take the technology function to the next level, not just the systems, but how the team evolves and scales with the business.”

[Related: Banjo Loans appoints new chairman]

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