and another...

and another one:
https://www.investsmart.com.au/investment-news/wisr-than-the-big-banks/145989

Interview with Alan Kohler!

Wisr than the big banks?

Alan Kohler interviews Anthony Nantes, the CEO of Wisr, about taking big business off the big banks through better interest rates.Alan Kohler here with today’s CEO and it’s Anthony Nantes who is the CEO of Wisr (WZR).

It’s a non-bank lender for personal loans. It’s an interesting business, a year ago shares were 4 cents, now they’re 14 cents or so, so it’s had a bit of a run and he reckons they’re about to, as he put it, significantly increase their net lending margin from 2% to something else. He didn’t say what exactly but he reckons it’s going to go up because they’re now more mature and they’re getting lower cost of funds from the institutions that provide the money.But the key to this and the interesting thing about the business, which sort of says a lot about what’s going on in the banking market, is the key to their business is that they provide risk-based pricing. That is to say, the interest rates on their loans varies according to the quality of the borrower, the credit score and how good a lender they are. What they’re doing is, because the banks don’t do that, the banks have a problem. They’re stuck with non-risk based pricing because of, as he puts it, their back book. They can’t start offering their best borrowers, 9% interest on personal loans because all of their existing lenders are on 14% and 15% and it would cost them a fortune.It's really ripe for a disruptor to come along and to offer 8% and 9% personal loan interest rates for really good borrowers, and they’re basically taking them off the banks, so I think it’s a really interesting business, one worth having a look at and listening to the interview. Here’s Anthony Nantes who is the CEO of Wisr.