agreed. apt don't know the number of defaults that have...

agreed.

apt don't know the number of defaults that have been racked up.
they don't even know the number of outstanding loans of the applicant.

...and yet they have reported reduced credit losses yoy

why is comm bank insisting on mandatory credit checks on bnpl transactional products yet when it comes to their own credit assessments, they ignore or don't even bother collecting customer verified expenses for loans like mortgages ??

what's their play? look back at their recent track record on responsible lending.

in the end, as long as apt continue to report losses 5 times lower than credit cards, then comm bank will need to devise another strategy to upset the apt behemoth

btw, $2k upfront is incorrect. usually kicks off less than $500...increases according to repayment history.