Ann: FXL retailer update 26 September 2019, page-57

Can’t see why it is any different to what they have been doing for years with both consumer leasing and Certegy. The type of loans they do have always been a step down from banks in credit worthiness, but they have generally kept impairments at a reasonable level so I don’t see why that should change significantly. They have a longer history of doing this than say Afterpay who seemed more cavalier in the early days, in who they allowed to borrow. They did seem to have a bit of problem with impairments with Oxipay, but are dealing with that. These are questions that need to be asked I guess, but I have more confidence in Flexi controlling credit worthiness than some of the others.