For Anthony Nantes, CEO and fintech lender Wisr (ASX:WZR), it’s still fairly early days in that transition.“The US is a market we often look to because it’s more advanced in this space,” Nantes said.“What we’re seeing there is that digital lenders are taking up market share of around 35-40% for these types of products.”“Whereas in Australia today we’re still in the single digits, so I do think it’s early days here and there’s still a huge runway there.”But he believes the sector is close to a “tipping point” now that companies have established their business models.“I think what we’ve seen in other markets is you get that slow build over a period of 5-7 years where companies are getting the tech right, getting their funding right, then you see this rapid acceleration.”And if Australia does follow the path of other developed markets, he envisages a “pretty rapid jump” from single-digit market share to “20-30%”.
WZR Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
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