Announcement PDF ANNUAL REPORT 2020 W I S R L I MITED | ANNUAL RE P O RT 20 20 Contents. Our Vision 2 FY20 Highlights 3 Business Model 5 Chairman’s review 7 CEO’s review 9 Revenue turning point reached 11 Consistent growth of high quality loan book 13 COVID-19 impact 15 Prime quality customer base 17 FY21 key execution priorities 19 Core lending products driving strong revenue growth 20 Expansion via Wisr Ecosystem 21 Omni-channel distribution 23 Building a great place to work 25 One of Australia’s most recognised fintechs 26 Executive leadership team 27 Board of directors 29 Financial report 31 Directors’ report 32 Auditor’s independence declaration 50 Statement of profit or loss and other income 51 Statement of financial position 52 Statement of changes in equity 53 Statement of cash flows 54 Notes to the financial statements 55 Directors’ declaration 79 Independent auditor’s report 80 ASX additional information 83 Corporate directory 86 W I S R L I MITED | ANNUAL RE P O RT 20 20 1 Our vision is to bring financial wellness to all Australians. 2 W I S R L I MITED | ANNUAL RE P O RT 20 20 FY20 Highlights. DELIVERING ON MILESTONES, KEEPING PROMISES 3 R E VEN UE G R OWT H UP LOAN ORIGINAT IONS U P 136% 95% INCREASE IN LIFETIME REVENUE RECOGNITION PER LOAN WISR ECOSYST EM U P 500%+ 389% LOA N S W R I TTEN TO DATE C I R CA 9 0 + DAY ARREARS DOWN $250M 0.15% C A S H AT 3 0 JUNE 20 20 BEST IN- CLASS NET P ROMOT ER SCORES $38.0M +75 +73 +78 CUSTOMER B ROK ER EMP LOY EE 4 W I S R L I MITED | ANNUAL RE P O RT 20 20 We’ve built a scalable business model that is... Purpose-led Fast-growing A vision to bring financial wellness to all Australians New model already delivering a profitable operational outcome 136 % REV ENUE GROWTH 9 5% LOAN ORIGINATIONS OM NI - C H AN N E L C USTO ME R R EACH 389% ECOSYSTEM GROWTH Smarter, fairer, fully-digital products with market-leading customer experience Innovative Wisr Ecosystem: fastgrowing and data driven channel Australia’s leading credit score comparison platform, utilising positive credit reporting data Consumer marketing (B2C) Wisr App banking transaction data helps customers pay down debt, with any bank (or Wisr) faster Financial literacy initiatives and innovative new features to leverage open banking regime Broker channel (B2B) Strategic partnerships (B2B and B2C) CUSTOMER DATA POWERS INTELLIGENT CREDIT ENGINE 5 Efficient Market-leading proprietary tech platform backed by great customer service Automated business engine Strong funding platform and loan unit economics Unique Wisr Ecosystem channel delivering market-leading economics with massive opportunities ahead New product launch taking advantage of sizeable market opportunity Huge opportunities to scale from small but growing share of the $120B consumer finance market1 September launch of new secured product expands reach to $33B2 market opportunity Innovation and growth in Wisr Ecosystem to deliver financial wellness to more Australians Source: 1Equifax Credit Pulse 2019 (published August 2019), RBA, APRA 2 Includes consumer and commercial lending segments. ABS 5601.0 LTM to Dec-19, and ABS 5671.0 LTM to Nov-18; ABS discontinued ABS 5671.0 in Nov-18. 6 W I S R L I MITED | ANNUAL RE P O RT 20 20 Chairman’s Review. J O H N NA NTE S EXECUTIVE CHAIRMAN Dear Shareholder, Key results include: On behalf of the Board of Directors it gives me great pleasure to present the Wisr Annual Report for FY20. • Operating revenue up 136% to $7.2 This year has been by far our most accomplished. The Company has rapidly responded to the unprecedented challenges of COVID-19, whilst also delivering above expectations for loan origination and revenue growth, improved loan unit economics and credit performance, and world-class innovation on the Wisr Ecosystem of incredibly intelligent financial wellness products. We have seen significant increases in our prime customer base and received strong shareholder, partner, customer and stakeholder support as we continue to build a purpose-led, fully digital and agile fintech business model that is completely unique in the Australian financial services market. MILESTONE ACHIEVEMENTS A key milestone of the Company’s threeyear strategic plan was to diversify the funding structure and deliver increased margins. This significant moment came to fruition in November 2019, when the new Wisr Warehouse went live, creating scalability and the foundations for continued growth in FY20, and beyond. Since then, we have continued to achieve truly remarkable milestones, supporting the Company’s vision to provide a new type of lending experience and aggressively grow market share in-line with risk appetite. In the last 12 months we have recorded our best year yet, delivering the increased margins and revenue that we spoke about in our FY20 outlook, from the FY19 Annual Report. 7 million (FY19: $3.0 million) • 125% revenue growth in H2FY20 compared to H1FY20, as Wisr Warehouse economics begin to flow through • Total loan originations of circa $250 million as at 30 June 2020 • Total new loan originations up 95% to $135.9 million (FY19: $68.9 million) • A 389% increase (FY20 compared to FY19) in the Wisr Ecosystem Channel, with over 239,000 entrants as at 30 June 2020 (FY19: 61,500) • $38 million of cash and $2.0 million liquid loan assets as at 30 June 2020 COVID-19 IMPACT COVID-19 has fundamentally changed the way we live, work and communicate. Millions of Australians have been adversely affected by COVID-19 and for many industries, recovery has been shrouded in uncertainty. As a financial services industry challenger, particularly one that is committed to fairer financial services, we have witnessed the critical importance of financial literacy and the access to fair credit, to help change people’s lives. However, despite the challenges that have come to our industry, Wisr’s commitment to responsible lending, financial wellness and fairer customer outcomes has resonated strongly and our results have also shown how COVID-19 has validated the Company’s point of difference. We have seen significant growth across all of the Company’s key metrics, delivered consistently strong credit quality and core business profitability. It should also be noted that throughout this time, the Company has worked closely with our Wisr Warehouse funders who are very supportive of Wisr providing customers with COVID-19 relief. Wisr appreciates the significant support provided by its funders during this time. FINANCIALS Wisr Limited is very well capitalised with $38 million of cash and $2.0 million liquid loan assets as at 30 June 2020. In Q4F20, the Company achieved a significant milestone from an operating leverage perspective in Q4FY20 with a significant reduction in operating cash burn. During the FY20 period, the Company made a Cash EBTDA of $(13.2) million, and an accounting loss of $(23.5) million was reported due to significant non-recurring and other non-cash items, which were: REVENUE Wisr reported revenue of $7.2 million for the full year ended 30 June 2020. This was a 136% increase in revenue compared to the previous financial year, primarily driven by 95% growth in loan originations and switching to the Wisr Warehouse funding model in H2FY20. Wisr also focused on innovating and creating new products and services, which will directly benefit our customers financial well-being and grow its revenue as a result. As part of this activity the Company announced a capital raising via a Placement of approximately 181 million fully paid ordinary shares (Shares) at an issue price of 18.5c per share each for a total amount raised of $33.5 million to new and existing institutional and sophisticated investors. As part of our commitment to building a purpose-led company with a focus on financial fairness, the • Share based payment expense of Board resolved to undertake a Share $6.1 million, the majority of which Purchase Plan (SPP) to allow all relates to the reset during the year shareholders to invest in the Company of the Board/KMP/Staff incentive on the same terms as the Placement. plan for FY20-FY22 (all expensed in We did this to ensure a level of parity FY20) for both institutional and retail • Provision for expected credit loss shareholders. In a similar fashion to expense of $4.1 million driven by the our Placement, the support for the introduction of the Wisr Warehouse Company’s strategy has been strong, (as per AASB 9, expected life-ofand the SPP was heavily supported loan losses are recognised upfront). with $3 million raised. In total, the Actual bad debts written-off during Company received $36.5 million from the year were $0.7 million the Placement and SPP. Other expense items include: LOOKING FORWARD • Increase in employee benefits and The Company’s pivotal past financial year has provided a foundation for significant growth going into FY21. marketing expense driven by scaling of the Company through growth investment into the Wisr Ecosystem • Increase in customer processing costs driven by growth in loan volume and entrants into the Wisr Ecosystem • Other expenses include Public Company costs, accounting, legal fees and administration items increasing business margins and loan origination growth, reducing the cost of customer acquisition, and delivering more Wisr Ecosystem innovation, features and experiences. It is an exciting time for the Company, one which could not have been possible if not for the hard work, advice and expertise of the entire Wisr team. Across all areas of the business, the Company has delivered incredible results against very challenging circumstances. I would like to thank the Board, Executive Management and all of Wisr’s staff for their continued support, vision and experience and we look forward to helping more Australians achieve financial wellness during this truly unprecedented time. Importantly, the Board and the Wisr team wish to thank all of our shareholders, as we value the trust you place in us to make Wisr the successful company it is. We look forward to growing our company this coming year with you. Fusing the best of emerging fintech with the operational reliability of a traditional lender, we will continue to deliver exceptional customer experiences and a business model that is truly innovative, scalable, purposeled and built to deliver long term value. • Finance costs driven by introduction The coming year will see Wisr’s of the Wisr Warehouse in H2FY20, which is on balance sheet continued focus on delivering a globally unique business model, 8 W I S R L I MITED | ANNUAL RE P O RT 20 20 CEO’s Review. A N T H O N Y N AN TE S CHIEF EXECUTIVE OFFICER For the last three years, we’ve been focused on building a strong foundation of market-leading technology and proving our innovative lending model. I am delighted to say that in FY20 we reached the turning point in the Company’s strategic plan, delivering significant growth across all of our key metrics, achieving pivotal milestones, as our high-performance culture thrived, all while facing unprecedented challenges from COVID-19. In November 2019, we delivered the key milestone of the new Wisr Warehouse funding model which has set the Company up for significant growth and scale. Through this new facility, we achieved core operating cash flow profitability, delivering significantly improved revenue economics and operational leverage in H2FY20. In the second full quarter operating under the Wisr Warehouse funding model, the company delivered $2.9M of operating revenue for Q4FY20, a 50% increase on Q3FY20 and a 188% increase on Q4FY19. We were very pleased with the market’s confidence in our strategy, strongly supporting the Company’s $36.5 million capital raise in January 2020. The funds support the scaling of the core lending business, the ongoing development and innovation of the Wisr Ecosystem of category-defining products, attracting the best talent from across industries in Australia and strengthening the balance sheet. The Wisr Ecosystem has also created a competitive advantage in growing Wisr’s market share of the $120 billion-dollar consumer finance market, by providing the Company a strong, unique platform to scale and grow through its existing product offerings, as well as future products and services. 9 In fact, the Wisr Ecosystem is differentiating Wisr by not only providing a platform to scale and grow with increased operational leverage and market leading economics, but it significantly reduces the cost of acquisition. Because we have genuinely put the customer at the very heart of the Wisr Ecosystem, we have been able to connect with customers at all stages of their financial journey to improve their financial wellbeing, especially throughout COVID-19; creating a platform that is truly significant in this market and with the ability to reach and improve the financial wellness of millions of Australians. COVID-19 This year, we’ve seen unprecedented macroeconomic changes with the impact of COVID-19 as well as the profound shift to the new normal of working-from-home. However, COVID-19 has validated Wisr’s fintech business model, proprietary technology, and high-performance and innovative culture. It has ensured the Company could rapidly respond to COVID-19 conditions, implement a significantly tightened credit policy, adjust our models and succeed as a team through these rapidly changing times. From the 16 March 2020, we implemented a work-from-home policy to ensure the safety and wellbeing of our Wisr team. Our approach and innovation ensured there was no disruption to normal business operations. In that very first week we achieved a significant company milestone of surpassing $200 million in loan originations and since then, we have continued to break records, recently passing the $250 million milestone. I couldn’t be prouder to see the entire Wisr team not only continue to deliver for the Company but also adapt to significant upheaval in the way they work and go about their everyday lives. While we expected a period of heightened customer hardship stemming from COVID-19 in Q3FY20 and Q4FY20, this impact has been very manageable in light of the Company’s prime customer base and exceptionally low exposure to high risk sectors. In response to COVID-19, we made the decision in March to significantly tighten our credit policy, as well as taking a prudent approach to loan origination in Q4FY20. Despite this, we have achieved significant new loan origination growth of 95% and revenue uplift of 136% for the year. Our success was also driven by a consumer sentiment shift from the incumbents to our business, like in many other digital-first service and product sectors, delivering record growth across Q4FY20, as they look for fairer, smarter financial wellness options and products. In a strong testament to our customer-centric approach to responsible lending, customer hardship requests returned to pre-COVID-19 levels in May 2020 and by the end of June, we had seen a 75% recovery rate for COVID-19 hardship customers on an assistance program. We continue to proactively reach out to our customers to understand their circumstances and how we can help their financial wellness. Wisr’s innovative business model and responsible lending practices has also secured an initial $30.8 million investment into the Wisr Warehouse from the Australian Office of Financial Management through the Structured Finance Support Fund. The investment sits alongside existing financiers and will support the Wisr Warehouse up to $200 million. We also showed our ability to continue to lend prudently and maintain strong credit performance, in what is a very challenging economic environment, with an average credit score in Q4FY20 of 723 (and market leading for unsecured personal loans in our category), the highest average in the Company’s history, as well as 90+ Day arrears of 1.44%, reinforcing the business model and prime nature of the Company’s loan book, and customer base. There has also been an increase in engagement with B2B Wisr@Work and Wisr&Co partners to align with remote work conditions to deliver solutions that will help to alleviate the financial stress of companies and their employees due to COVID-19. Our B2B programs offer new growth opportunities by opening up millions of Australians to the Wisr Ecosystem through workplace financial wellness programs. Most exciting, Wisr completed a highly successful Wisr@ Work Financial Wellness program with Guild Super, our first partner in the important superannuation sector (75,000+ members and 16,000 employers). Our approach to responsible lending and credit performance has the Company well-positioned for growth through FY21, setting Wisr up for a strong revenue growth trajectory over the coming quarters. SUMMARY While the Australian macroeconomic economic outlook has changed due to COVID-19, Wisr is strongly capitalised with a purpose-driven business model that delivers smarter financial outcomes for borrowers and investors and is well-positioned to grow. As we start FY21, we are very excited to launch our second credit product, secured vehicle loans, into the $33 billion-dollar consumer vehicle finance market. By expanding the Company’s product mix to address both unsecured and secured customer needs with competitive and fairer rates, we can attract more prime credit quality customers, deliver exceptional customer experiences and transform our customers’ ability to own and maintain their vehicle. Through the backing of the Wisr Warehouse, the new product will also be a significant contributor to the Company’s loan book originations and revenue growth in FY21. Importantly, we can’t continue to disrupt and take market-share without having an amazing and incredibly talented team driving us forward. Throughout the year and especially during COVID-19 as I mentioned earlier, we have continuously innovated our highperformance culture to build, nurture and deliver record shattering Employee Net Promoter (ENPS) scores. Q4FY20 was certainly testament to that hard work with a +94 ENPS, the highest in the Company’s history. We have also continued to hire and retain the most talented people in the country, and I am delighted to welcome three critical appointments to our Executive Leadership Team during FY20. Joanne Edwards as Chief Risk and Data Officer, Ben Berger as Chief Product Officer, and Dr. Lili Sussman as Chief Strategy Officer. Their phenomenal experience, talent and expertise will help take Wisr’s purpose-led and agile fintech business model to the next level and I couldn’t be more excited about the path ahead of us. There is no doubt that the phenomenal achievements of FY20 has positioned Wisr strongly for the year ahead and despite the uncertainty of COVID-19, our numbers and risk exposure clearly show that our purpose-led business model can quickly and effectively respond through COVID-19 disruptions, and post-recovery. We truly are unique and provide a clear differentiation in the market. As we begin the journey in FY21, we are building something of real size, scale and meaning, a Company that will be scaling, growing market share in-line with our risk appetite, and delivering on the enormous potential in front of us. To get us there, we have an energised team, an incredible highperformance culture, superior innovation and technology, and a genuine commitment to improve the financial wellbeing of Australians, and shareholders should be excited about the year ahead of us. 10 W I S R L I MITED | ANNUAL RE P O RT 20 20 Revenue turning point reached. Under the Company’s new Wisr Warehouse funding model, which went live in November 2019, Wisr delivered strong Q3FY20 and Q4FY20 revenue growth as the Wisr Warehouse funding model came into effect for H2FY20. 11 As the Company scales under the attractive unit economics of the Wisr Warehouse funding model, Wisr is set up for significant scaling and revenue growth in FY21, and beyond. RE V ENUE G RO WTH 3,500,000 +54% 3,000,000 2,500,000 $ +50% 2,000,000 1,500,000 +46% +25% 1,000,000 +73% +7% -12% 500,000 0 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 12 W I S R L I MITED | ANNUAL RE P O RT 20 20 Consistent growth of high quality loan book. 13 LOA N O RIG IN ATIO NS ( $ M ) $244.9M $42.2M 9% $202.7M $38.9M 23% $163.8M $31.6M 36% $132.0M $23.2M $108.8M $21.9M $86.9M $18.8M $68.1M $23.2M $26.5M 20% 79% Q1 FY18 Q2 FY18 $2.1M $3.3M $31.3M $4.8M 42% Q3 FY18 $39.3M $7.9M 40% Q4 FY18 $51.2M $16.9M $11.9M 43% 6% 17% 11% 49% Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 1 st $50m 2 nd $50m 3 rd $50m 4 th $50m 45 MONTHS 8 MONTHS 6 MONTHS 4 MONTHS Total loan originations (cumulative, to scale) Q4FY20 Quarterly loan originations (number) LOAN B O O K ( $ M ) $169.4M $4.2M $141.5M $4.6M $114.0M $85.9M $1.8M $53.8M $91.8M $22.6M $75.6M $59.4M $45.3M $89.6M $31.6M $10.6M $12.7M SEP 17 DEC 17 $16.2M MAR 18 $83.1M $79.3M MAR 20 JUN 20 $22.1M JUN 18 SEP 18 OFF-BALANCE SHEET DEC 18 MAR 19 JUN 19 WISR WAREHOUSE SEP 19 DEC 19 OTHER 14 W I S R L I MITED | ANNUAL RE P O RT 20 20 COVID-19 impact. SHIFT TO FULL-DIGITAL SERVICES AND PRODUCTS BENEFITS WISR COVID-19 has brought unprecedented macroeconomic change for Australia. Our purpose-led, fully digital and agile fintech business-model ensured we could rapidly respond to COVID-19 conditions and adjust our models instantly. As Australians have become more conscious of their own financial situation, Wisr witnessed a shift to our business from the incumbents, delivering record growth across Q4FY20, as did many other e-commerce and digital-first players across every industry in Australia. TOTAL LOAN ORIGINATIONS REACHED $244.9M IN Q4FY20 $244.9M $42.2M $202.7M $38.9M $132.0M $23.2M Q1 FY20 $163.8M $31.6M Q2 FY20 Q3 FY20 Q4FY20 RAPID RESPONSE DELIVERS LOW EXPOSURE • As at 30 June 2020, $10.3M or 6.12% of total portfolio loan balances were on COVID-19 specific payment assistance, this approximately halved to $5.6m (3.09%) by 31 July 2020 • The average Equifax CCS score for this group was 692 compared to portfolio average of 712 • 30% of this group represent customers who work in high-risk industries, compared with 14% within the total portfolio P O RT F OL I O B A L A N C ES UN DER A SSISTANCE 8% 7% 6% 5% 3.09% OF TOTAL PORTFOLIO 4% 3% 2% 1% 0% MAR-2020 15 APR-2020 MAY-2020 JUN-2020 JUL-2020 COMPANY BACK TO PRE-COVID-19 HARDSHIP LEVELS • 85% of cases have now come to the end of the • Wisr continues to proactively reach out to • Of the remaining 19% that requires further • Due to the tightened credit policy since March initial 3 month payment assistance period and 81% of these have either been remedied or resumed regular payments assistance and can’t resume repayment, this represents 70 accounts which is 0.89% of the total portfolio, and 0.61% for the Wisr Warehouse DAI LY R E QU EST S VS HA R D S H I PS GRANTED customers on COVID-19 payment assistance via proactive customer checks-ins 2020, zero COVID-19 payment assistance has been requested by customers originated after this date 80 70 60 50 40 30 20 10 0 10-JAN 13-MAR 10-APR 7-MAY TOTAL REQUESTS CUSTO MER S UN DER I N I T I AL COV I D -1 9 PAYMEN T AS S I STA N C E 4-JUN 1-JUL 28-JUL HARDSHIP GRANTED 3 MONTH DEFERRAL PERIOD 100% 90% 80% 70% 60% 81% of customers resumed payments as at July 2020 50% 40% 30% 20% 10% 0% MAR-2020 APR-2020 MAY-2020 JUN-2020 JUL-2020 16 W I S R L I MITED | ANNUAL RE P O RT 20 20 Prime quality customer base. ATTRACTING AUSTRALIA’S MOST DESIRABLE CREDITWORTHY CUSTOMERS. $86,686 AV E R AG E IN C O ME 714 AV E R AG E C USTO MER C R EDI T SC O RE 3 M PERSONAL LOAN APPLICATIONS +75 C U STO MER N ET PR O MOT ER SC O RE “ “ Wisr were brilliant with helping me get a personal loan.  Smooth sailing all the way through from start to finish. Excellent staff with great experience, more than helpful guiding me through e-signing  documents. The customer service is efficient and friendly, and in many ways a 100 times better than the Big 4 banks. I highly recommend Wisr. DEA N | TR USTPILOT H E AT H E R | T R USTP ILOT Source: 1 Equifax Credit Pulse 2019 (published August 2019), Wisr data as at 30 June 2020 17 0.45% Current Wisr Penetration Wisr personal loan applications in FY20 as a share of estimated total personal loan applications1. 1% % 20%% 30%% 23%% 1%% Loans for customers all over Australia, for any worthwhile purpose. 5% 18%% 2% 1% EDUCATION 1% SMALL BUSINESS 2% 2% MEDICAL HOLIDAY 2% MOTORBIKE 2% WATERCRAFT 2% 28% RECREATIONAL VEHICLE DEBT CONSOLIDATION 3% GAP FINANCE 5% HOME CONTENTS 14% OTHER 26% CAR 12% HOME IMPROVEMENTS 18 W I S R L I MITED | ANNUAL RE P O RT 20 20 FY21 key execution priorities. 1 CORE LENDING AND REVENUE GROWTH 2 EXPANSION VIA THE WISR ECOSYSTEM 3 OMNI-CHANNEL PRODUCT DISTRIBUTION 19 Core lending products driving strong revenue growth in FY21. W I S R P R ODUC T F E ATU R E S UN S EC UR E D PERSONAL LOAN SECURED VEHICLE LOAN • Great low rates based on borrowers’ strong credit history • Borrow between $5,000 and $60,000 • Loan terms of 3, 5 and 7 years • No ongoing or early repayment fees U N I QUE SE LLI N G P OI N T Access to Wisr Ecosystem providing a deep, data enriched experience, going on the journey with the borrower to help them stay on track with repayments and make extra repayments through round-up transactions MA R K ET O P P ORTU N ITY $39B1 Consumer unsecured lending OR Over 3 million personal loan applications expected per annum $80B+2 of annual vehicle sales and $33B+3 annual market for consumer vehicle financing • Lead the market in operational and customer experience excellence • Launching in Q1FY21 with super competitive secured lending product with market leading flexibility W IS R A P P R OAC H IN FY21 U NI T E C ONOM I C S A N D R E V E N UE • Take significant market share • Omni-channel distribution including Wisr Ecosystem, direct to consumer, partnerships and broker channel • A near tripling of loan unit economics compared to previous funding structure, with full revenue recognition delivering 136% revenue growth in FY20 vs FY19 – just 8 months under the new funding model • Company set up for continued strong revenue growth and scale in FY21 and beyond Source: 1 Equifax Credit Pulse 2019 (published August 2019) 2 Royal commission into misconduct in the banking, superannuation and financial services industry: Report - Some Features of Car Financing in Australia 3 Includes consumer and commercial lending segments. ABS 5601.0 LTM to Dec-19, and ABS 5671.0 LTM to Nov-18; ABS discontinued ABS 5671.0 in Nov-18. 20 W I S R L I MITED | ANNUAL RE P O RT 20 20 Expansion via the Wisr Ecosystem. Over the past 2 years, Wisr delivered on the preliminary roll-out of the Wisr Ecosystem, introducing over 239,000 Australians as at 30 June 2020. The Wisr Ecosystem includes a number of individually powerful and collectively unique products, aligned to financial wellness. ECOSYST EM HIGHLIGHT S INCLU D E : Customers introduced through the Wisr Ecosystem are 2.5x more likely to settle a loan Deep, data-driven relationships with customers Over $1M in consumer debt repaid through Wisr App 21 The Wisr Ecosystem matures from a channel building phase into a unified experience in FY21 via the Wisr Profile. The Wisr Profile is the gateway into lending, credit score and round-up products, and enables the opportunity to build a deep, data-driven understanding of the customer. WIS R P R OF I L E S I N C LU D E C U STO M ERS WHO : • Receive a personal loan estimate • Access their credit scores • Take out a loan • Set up a profile on Wisr App WI S R C USTO M ER PRO F IL ES 250,000 200,000 150,000 100,000 50,000 0 SEP-18 DEC-18 MAR-19 JUN-19 SEP-19 DEC-19 MAR-20 JUN-20 22 W I S R L I MITED | ANNUAL RE P O RT 20 20 Omni-channel distribution. To provide our customers with a consistent and smooth experience, as well as maximising conversion rates and revenue, in FY21, Wisr will be growing the Company’s omni-channel distribution including the Wisr Ecosystem, direct-to-customer, partnerships and broker channels. Broker Channel Introducers and Aggregators are supported through our online broker portal, and assisted by a dedicated team Strategic Partnerships Helping companies create financial wellness programs for employees, and opening up new revenue streams through branded lending products 23 Wisr Ecosystem channels Cultivating strong, data-driven customer relationships while lowering costs WISR APP WISRCREDIT DIRECT Other external channels Further extending Wisr’s reach to Australian consumers through trusted third-party brands 24 W I S R L I MITED | ANNUAL RE P O RT 20 20 Building a great place to work. At Wisr, we don’t just want to lead the industry, we want to be Australia’s #1 place to work. And we’re delivering! Constant innovation of our high-performance culture ensures we deliver phenomenal results through: • Being customer obsessed • Helping each other to be amazing • Taking responsibility and accountability • Asking the hard questions for continuous improvement and innovation • Championing inclusion, diversity and social responsibility • Attracting and retaining the very best talent • Bringing your authentic self to work every day and enjoying the success that hard work brings Through FY20, our already market-leading ENPS scores skyrocketed as our incredible culture was tested by COVID-19. +94 JUN-20 +78 +61 JUN-19 25 +63 SEP-19 DEC-19 +76 MAR-20 One of Australia’s most recognised fintechs. 26 W I S R L I MITED | ANNUAL RE P O RT 20 20 Executive leadership team