So in the June quarter they issued around 1,015 BizmoLoans and in today’s Sept quarterly they announced a 40% drop in approved loans (around 605 loans issued) BUT gross revenue from loans jumped up 178%.
That’s around 5,506 loan applications received in the Sept quarter and only 605 of those were approved. Obviously they are being very selective and cautious with the loans.
Using their own AI to screen applicants is already starting to show great results IMO. How much of that 178% increase in gross loan book revenue (while issuing 40% less loans) is due to a significant reduction in loan defaults?
They will keep tweaking and perfecting the AI formula while building a valuable, growing base of low risk customers. Very interesting year ahead for Bizmoto.
BizmoLoan Operations
Work continued on the development of Peppermint's loan book operations during the September Quarter, resulting in a circa 178% increase in gross loan book revenue compared to the previous quarter.
So in the June quarter they issued around 1,015 BizmoLoans and...
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