NOW Finance

SIZE OF LOAN BOOK	>A$1bn
MAKEUP OF LOAN BOOK	Warehouse facilities NOW Trust ABS programme
USE OF SECURITISATION
TYPE OF SECURITISATION ISSUED	Consumer receivables
MAKEUP OF LOAN BOOK	Secured lending: 53.4% Unsecured lending: 46.6%
NUMBER OF SECURITISATIONS ISSUED	5
TOTAL PUBLIC ABS SECURITISATION VOLUME ISSUED	A$1.4bn
OUTSTANDING VOLUME OF PUBLIC ABS SECURITISED ISSUES	A$660m
NUMBER OF SECURITISATIONS CALLED	2

About NOW Finance

NOW Finance is a nonbank financial institution specialising in Australian consumer credit. Since its inception in 2013, the company has originated more than A$2 billion of consumer loans to nearly 100,000 customers. NOW Finance offers personal and auto loans distributed digitally via brokers, directly to consumers and through partnerships. The company focuses on mid-market Australian consumers, a segment often under-served by traditional credit providers.

Key strengths

Innovative technology platform. NOW Finance leverages state-of-the-art technology to enhance operational efficiency and customer experience.
Simple, transparent products. The company designs easy-to-understand loans, ensuring clarity for consumers.
Robust risk management. A strong risk assessment framework underpins the high quality of NOW Finance’s loan portfolio.
Strong compliance culture. From its inception, the company has emphasised compliance and oversight.
Scalable funding model. An institutional-grade funding model supports targeted growth and optimised funding costs.
Experienced management team. The team has successfully guided the company’s growth strategy.

Funding and growth

NOW Finance operates as a balance sheet lender and has developed a robust funding platform with diverse bank and institutional investors. The company launched its first ABS transaction, NOW Trust 2019-1, in September 2019, followed by four additional transactions totalling A$1.4 billion by July 2024. This success highlights the strong institutional appetite for investing in NOW Finance’s diversified loan portfolio.

Risk management

The company’s proprietary multifactor pricing and decision engine supports rigorous credit assessment and risk management, enabling NOW Finance to maintain a prime quality portfolio and deliver market-leading credit quality measures.

Business performance

NOW Finance has sustained a strong net interest margin and high receivable credit quality in a competitive market. The company continues to scale and diversify through operational leverage, a strong risk culture and effective cost management.