Wisr recognised for innovation across financial wellness suite

Wisr, Australia’s first neo-lender (ASX: WZR), has been named Most Innovative Challenger at the RFi Group Australian Banking Innovation Awards.

The Australian Banking Innovation Awards held on Wednesday 22nd May, celebrate excellence in banking and include transaction services, customer service and digital banking innovation.

The Most Innovative Challenger award recognises genuine innovation, where the innovation reinvents how a product or service works for a better customer outcome from a challenger to traditional banks.

Wisr’s neo-lender model is based on a commitment to the financial wellness of all Australians, through providing a smarter, fairer and wiser suite of financial products and services.

Anthony Nantes, Chief Executive Officer, Wisr said, “As Australia’s first neo-lender, we’ve created a unique eco-system of financial wellness products, backed by a truly innovative business model. The Wisr model is unique not only in Australia but in a global context, putting Wisr at the very front of what a purpose-led business in banking and finance can look like in 2020 and beyond.”

In just 12 months the company has increased its core personal lending business by more than 400% and expanded its customer base by more than 50,000 people, growing rapidly thanks to its advanced approach to technology, innovation and genuine commitment to financial wellness.

The financial wellness suite includes the country’s only credit comparison service with wisrcredit.com.au,  debt reduction smartphone app Wisr App and low-cost personal loans, leveraging technology to provide better outcomes for borrowers, investors, and everyday Australians.

Gerald Ferguson, Managing Director, APAC, RFi Group, said “RFi Group developed the Australian Banking innovation summit and Awards to better reflect the changing market dynamic we operate in and to help recognise and celebrate the spirit of innovation within the industry in Australia. As winners of the Most Innovative Challenger Award – Wisr, showed a real commitment through their submissions to driving financial wellness for all Australians. The quality and level of submissions for all awards, but for this one, in particular, were of an extremely high level and we congratulate Wisr on being judged the winning submission.”

Wisr was nominated for a total of four awards including Best Banking App, Best Financial Literacy and Betterment Initiative, Best Fintech Innovator and Most Innovative Challenger. The submission was audited and assessed by the Australian Banking Innovation Awards judges and the opinions and experiences of over 8,000 consumers.