Wisr has reported record quarterly loan originations, led by secured vehicle finance, while highlighting the major banks’ declining share of personal lending.
ASX-listed fintech lender Wisr has reported record quarterly loan originations of $253.8 million, led by secured vehicle finance, while highlighting the major banks’ declining share of personal lending.
In its Q1FY27 update on Thursday (22 October), Wisr said originations climbed 73 per cent from $146.8 million a year earlier and 28 per cent from $198.1 million in the June quarter.
The lender’s outstanding loan book reached $1.211 billion at September’s end, up 40 per cent from $867.6 million a year earlier.
In contrast, Wisr said the majors’ share of total personal lending fell to 56 per cent in August, compared with 70 per cent in December 2022, providing a competitive backdrop to its expansion.
Vehicle finance accelerates
Secured vehicle originations surged 138 per cent year on year, from $54.1 million to $128.9 million, overtaking personal loans as the larger contributor to quarterly lending.
Personal loan originations, meanwhile, increased 35 per cent, from $92.7 million to $124.9 million.
Vehicle finance consequently accounted for approximately 70 per cent of the annual increase in total originations; however, personal lending remained the larger component of the outstanding portfolio, representing 59 per cent, or $710 million, up 27 per cent annually.
Secured vehicle balances increased 62 per cent to $501 million, accounting for the remaining 41 per cent.
Wisr said the reported new-loan size was $33,616, with the lenders broker panel exceeding 13,500.
Credit metrics improve
The expansion coincided with lower reported arrears and loss rates, with the loan book’s average credit score easing to 802 from 807 in both September 2025 and June 2026.
Loans more than 90 days in arrears fell to 0.86 per cent, improving 28 basis points annually and 15 basis points from June’s 1.01 per cent.
The net loss rate declined to 1.19 per cent, from 1.63 per cent a year earlier and 1.30 per cent in the preceding quarter, improvements of 44 and 11 basis points, respectively.
Meanwhile, Wisr said it continued to develop its AI and automation capabilities, including simplifying assessments for eligible personal loans, integrating vehicle inspections, and automating customer identity checks.
The lender said its AI-powered decision engine automatically approved 82 per cent of loans, while 52 per cent of the loan-verification process was automated.
[Related: BOQ mortgage book plunges as bank flags reduced broker reliance]
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