Wisr surpasses $200 million in loan originations
ASX-listed neo-lender Wisr has surpassed $200 million in loan originations. This was achieved with the initial $50 million taking 45 months to originate, the second $50 million taking more than 8 months, the third $50 million took 6 months and the most recent $50 million written in under 4 months.
The milestone was reached with all Wisr employees working from home, in effect since 16 March 2020, with no disruption to normal business operations.
Wisr CEO, Anthony Nantes said, “Surpassing $200 million in loan originations while the entire Company is working from home, is not only a strong validation of our Fintech business model and proprietary technology but also our high-performance culture. We have demonstrated our ability to work remotely as the new normal, without any impact to the business, delivering our services to prime Australian borrowers, whilst ensuring the safety and wellbeing of our staff.”
“Wisr’s business model is focused on the best borrowers in Australia. Our credit policy has been enhanced to ensure we continue to support our targeted prime customer base through the COVID-19 disruption. Our proprietary and dynamic credit decisioning engine gives Wisr significant flexibility to adapt and integrate tighter controls very quickly.”
“We’ve also implemented a risk based approach to factor in industry sectors and employment types which have been significantly impacted due to business closures. This has ensured a very low level of balance sheet exposure.”
“Wisr will be taking a prudent approach to loan origination in Q4FY20, while continuing to responsibly lend to our customers to help them consolidate, refinance, purchase, and fulfil their needs through the Wisr Financial Wellness Ecosystem in these uncertain times,” finished Mr. Nantes.
