Originally posted by Michaeljob
When going through the process consider the human interaction. They have designed the ICE tech to remove as many man hours as possible (cost). This is why we have sstaryed to see the costs flatten yet the loans written continue to grow by over 40% quarter on quarter.
You question regarding consistency in beating the banks; banks generally have a window rate which is largely inflexible. This rate is set to cover the risk across a cross section of society that meet or exceed minimum requirements to service debt. Within that range there are some that have never missed a payment in their lives and some that are consistently late etc. WZR offer a better rate to those who have the lowest risk and specifically target those clients to take the banks best borrowers away.
In the USA non bank lending reached 36% of personal lending recently so it’s a very big pie to carve up.
If you check the company website or my posts you’ll find a link to a research report published (paid for) that gives some fairly detailed analysis of the market segment they are aiming to be a leader in.
I’ll take a look at that. Yes I’ve been to the website. I saw the report. Will look through it.
That 36% sector stake in US I will fact check.
The idea of tailoring the best rate to best borrower is good.
Now to see who else is doing it. Are majors doing anything like it etc.
wisr ceo has said that they are the only neo lender in Australia and internationally! In a YouTube video. Need to fact check this as well
if this is true then it puts them in a vulnerable position to heavy competition sweeping in. They are yet to gain a leading position in this new space. At the same time they are in a great position to take 1st place. Their growth results are impressive.
Weighing investor risk reward...
