1 in 4 are financially stressed, but Australia just got Wisr

Company Name: Wisr

Announcement Date: 16/03/2018
Announcement Category: Product launch/update
Announcement Content:

Wisr (formerly DirectMoney) launches new brand with new financial wellness focus.

Sydney, 14 March 2018: Wisr (ASX: WZR) today launched a major rebrand of the personal lending company, following its official name change from DirectMoney.

Wisr is Australia's only ASX listed marketplace/p2p lender and is one of the very first to emerge in Australia. Now entering its fifth year, the company is going through a phase of rapid growth and expansion, and the new brand reflects the company’s repositioning into a technology-led, customer-focused company with a vision to “bring financial wellness to the world”.

Research has shown that 1 in 4 Australians are financially stressed, and the number one cause is high interest debt (typically from bank credit cards and loans). Wisr is addressing this key issue of high interest debt with market leading, low cost loans from $5,000 - $60,000 starting at 8.5% per annum, which can be up to 6% less than a big 4 bank loan, and 13% less than some bank credit card rates.

Anthony Nantes, Chief Executive Officer, Wisr said “At a time when many Australians are concerned about the behavior of the Banks, we are actively championing financial wellness for our customers. This week we’ll see Australian Banks fronting the Royal Commission due to their long standing lack of respect for everyday Australians, and failure to deliver technology that can enhance the wellbeing of their customers. As of today, Australia just got Wisr, with a new alternative to the Banks in the market”

“The Wisr financial wellness approach means striving to deliver wiser financial choice, consumer products and investment outcomes across everything we do. This includes providing services and products to our customers that help them do more with their money, with fewer fees and lower interest rates, in a way that is more transparent than traditional lenders.”

“The Australian banking sector is one of the most profitable in the world, and is ripe for disruption through technology, which can deliver better outcomes for all Australians.

In overseas markets, that are arguably 5-7 years ahead of Australia, we’ve seen a range of technology platforms such as Wisr take 6-10% market share of the unsecured consumer finance market.”

Whilst Wisr is confident Australia will see a similar pattern emerge, the fintech bank challenger market is only in it’s infancy, with significant growth opportunity over the coming years. Wisr plans to be at the very forefront of this growth trajectory.

For further information please contact:
Anthony Nantes
Chief Executive Officer, Wisr Limited +612 9252 2888 [email protected]
About Wisr Limited
Wisr is Australia’s only ASX listed P2P/Marketplace lender and a fintech pioneer in the rapidly growing Australian marketplace lending industry. Wisr connects borrowers and investors through its proprietary technology platform, providing innovation into the $100 billion per annum consumer finance sector. We strive to deliver Australians wiser financial choice and investment outcomes.

Announcement URL: https://www.wisr.com.au
About Wisr:

Wisr (ASX: WZR) is Australia's first neo-lender and FinTech pioneer in the rapidly growing Australian consumer finance market.

As a technology company we’re committed to building products, apps and services to help Australians do more with their money. Our promise is to provide a fair way to financial wellness for all Australians.

Go to Company Profile for: Wisr

Announcement Contact: [email protected]