NOW Finance

About NOW Finance

NOW Finance is a specialist provider of personal loans to consumers looking for convenient, value for money and hassle-free personal finance solutions that enable them to achieve their goals and maintain financial control.

It targets middle-market consumers of personal loans of A$5,000-100,000 who are currently financed by the major banks or perceive banks to be the most credible source of personal finance.

NOW Finance has built and rapidly scaled its personal lending solutions based on four key tenets:
• Trusted partnerships.
• Cutting-edge technologies and automation.
• Pricing, risk and product innovation.
• Real-time data processing and machine learning.

A state-of-the-art technology platform and differentiated product offering allow NOW Finance to originate a diversified portfolio of high-quality consumer loans. These capabilities underpin NOW Finance’s white-label platform and its partnership with Pepper Money.

SIZE OF LOAN BOOK A$475M
MAKEUP OF LOAN BOOK

UNSECURED CONSUMER LENDING: 77%
SECURED CONSUMER LENDING: 23%

GEOGRAPHIC DISTRIBUTION OF LOAN BOOK AUSTRALIA: 100%
OUTSTANDING DEBT ISSUANCE

WAREHOUSE FACILITIES,
NOW TRUST ABS PROGRAMME

Data is the digital currency for any fintech and is a cornerstone of the NOW Finance business. The company’s investment in technology delivers significant support in customer acquisition, risk management and pricing, and has been key to its ability to scale quickly and efficiently.

NOW Finance’s cloud-first infrastructure strategy provides the business with significant capacity, high availability and maximum flexibility.

Ownership and capital structure

NOW Finance is an Australian-owned, founder-led fintech based in Melbourne, with offices in Sydney, Brisbane and Perth. It has developed a stronghold in the personal-loan market as a leading alternative to the major banks.

Asset performance

The NOW Finance loan book typically follows industry and seasonal trends, but at superior levels. Delinquencies continue to track well below the industry in the 30-plus days past due and 90-plus days past due categories.

Funding strategy

A balance sheet lender since inception, NOW Finance has developed an institutional-grade funding platform with a diverse range of bank and institutional investors, as well as an established, publicly rated ABS programme.

NOW Finance executed its inaugural NOW Trust 2019-1 ABS transaction in September 2019, with follow-on transactions executed in July 2021 and July 2022. The success of the programme demonstrates the strong and growing appetite of institutions to invest in a strategically diversified loans portfolio, seasoned and originated within a proven risk management framework.

Risk management

NOW Finance uses a rigorous credit assessment and risk framework, underpinned by a proprietary multifactor pricing and decision engine. This capability enables NOW Finance to originate a prime-quality portfolio and consistently deliver market-beating credit quality measures.

NOW Finance’s strong risk-management capability and strategy provide a reliable risk profile for investors and partners alike.

Business performance

NOW Finance has defended a strong net interest margin and maintained receivable credit quality in a competitive market. The business has been profitable since December 2018. It will continue to scale and diversify through its operating leverage, risk culture and strong cost management.

FOR FURTHER INFORMATION PLEASE CONTACT:

James Cunningham
Treasurer
+61 499 300 697
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www.nowfinance.com.au