Ann: Annual Report to shareholders, page-68

Hard to ask about fees, penalties and rate if you don’t know the lender exists. Why do customers still go to big 4 banks for personal loans? It certainly isn’t the rate, it’s because they are well established brands that people know about. Unless you want all your originations to come from broker you need to spend money becoming a household name, or at least a name people are somewhat aware of. A customer who approaches Wisr for finance directly is more profitable than a customer who ends up there via broker channel because there is no need to pay up front commission or trail. This is the exact reason why the Wisr app downloads are important, because those users get exposed to Wisr and can then think to approach directly when the time/need comes. Of course to grow this awareness takes time and money and in the meanwhile broker is important to keep deals coming in the door and keep the lights on.

Wisr needs to continue to build brand awareness and advocacy while continuing to invest in the platform to make customer interactions simple and fast. To simply rely on being the cheapest is a very poor strategy because there will always be a cheaper alternative.