DanLook at what Plenti have done and that may be a way to...

Dan
Look at what Plenti have done and that may be a way to restart growth prior to the cycle turning.

Plenti are providing the low cost origination and credit checks (well certainly cheaper than NAB can do given all their infrastructure) while NAB takes both the credit risk as well as provide the funding.........Plenti's share price which has also been in the doghouse has doubled in the space of a few days

No doubt someone noticed MME is in the same space, and I have been thinking for some time why they have not leveraged their (low cost) IP to originate loans for other players who do have balance sheet......yes they would make a lot less and some complexity with what they keep inhouce (and it may upset those that have provided the warehouse funding), but it seems that there is sufficient space to play this game given the big 4 cannot compete on costs because their backend processes are too costly.

Given their expertise in autoloans, it would be good to see one of the other big banks partner with them and dominate the industry if they can provide credit approvals in 30 mins (obviously the credit provider will have to have a lot of confidence in their credit checks)