Australia: Wisr continues to strengthen personal loan portfolio

Peer to peer (P2P) lender Wisr has grown its origination of personal loans by 42% in the March quarter, following from 79% and 20% in the previous quarters. Previously known as Direct Money, in March 2018 the company rebranded itself as Wisr.

Wisr began operating in 2014, and in 2015 became the first peer to peer lender to be publicly listed in Australia. Wisr’s CEO Anthony Nantes believes that these figures can be attributed to the refocusing, rebranding and restructuring that occurred over the last 12 months, “these increases over the most recent quarter, reflects the new brand positioning, updated strategy and ongoing improvements to Wisr’s loan assessment, underwriting and technology platform… Combined with the significant increase in the effectiveness of our algorithms to auto-process more enquiries”.

RFi Group data indicates that the growth of Wisr and its origination of personal loans has coincided with an increase in comfort borrowing from P2P lenders across the consumer lending market; 1 in 5 consumers are now highly comfortable
borrowing from such a lender, compared to 1 in 10 in June 2016.

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