Ann: HUM announces proposed JV with Douugh, page-17

So FXL can borrow at around 2% for these deals, and then turn that cash over multiple times earning a net 2% or more every turnover, and not need to pay sales and marketing expenses? If so, sounds good to me.

There is significant leverage available to HUM if it writes a bunch more contracts like this.

They will be the most versatile player in BNPL now I would suspect.

I wonder if HUM could potentially write white label deals with lots of banks and other financial players, even without using their own balance sheet - just providing the platform and credit work etc for a cut of the action. Much cheaper for NAB, ANZ, WBC and any other bank or finance provider than the big CBA Klarna deal, if they could make that work, and leverage the low cost capital of the banks. Better than the current fee only credit cards too.