Exactly this ....an alternative to established customers with proven credit ratings and a minimal increase in operating cost to service.
You simply cannot build a viable business of unsecured micro loans to financially challenged uncreditworthy user base with $100 million marketing spend and $150 million employee costs.
Having said that there is also something seriously wrong with the banks today with intense selling pressure .
The banks led the markets down pre Covid and if you subscribe to the belief that Covid was financially motivated then there could be another shoe to drop immmenently
Ann: Response to Media Speculation, page-124
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