When Australia’s broker sector needs money, it turns to Wisr. The non-bank lender has carved a niche for itself among brokers largely through the efforts of its Chief Commercial Officer Peter Beaumont. His hard work has carried Wisr to new heights and landed himself The CEO Magazine’s Sales Executive of the Year award for 2021.
A senior business executive with a long and storied career in global banking and finance, Beaumont has worked with leading international banks including Citibank, BofA Securities and ABN AMRO.
Shortly after Beaumont arrived at Wisr in April 2015, he created the company’s third party broker channel, which drives over 70 per cent of Wisr’s loan originations.
“I was responsible for building a sustainable, fast-growing and high quality broker channel that would expand Wisr’s consumer loan book,” Beaumont says. “I’m proud to have led the channel’s growth to the point where Wisr is regularly the top personal loan lender to Australia’s broker sector.”
In fact, the volume of loan settlements from brokers has more than doubled over the past 12 months, resulting in a 275 per cent increase in revenue and a record average credit score of 779, reinforcing Wisr’s ability to attract Australia’s most creditworthy customers and broker community business.
Wisr’s success in this field has, Beaumont says, come down to ensuring it’s able to quickly adapt to meet regulatory change in the channel, offering brokers a best-in-class user experience and making sure its products and services provide great deals for borrowers.
The lender also has a swathe of healthy relationships with industry leaders and aggregator heads as well as a team of 11 business development managers dedicated to supporting and servicing upwards of 7,500 brokers around the nation.
“Our super-proficient and motivated BDM team offers the best personalised service possible,” Beaumont says. “As does our quick and easy user experience, which is essential to time-poor brokers and their clients.”
Beaumont’s empathy, attention to detail and strong vision of what success looks like have given Wisr an edge among lenders, and the company has the awards to show for it. The Australian Financial Review and WRK+ both ranked Wisr among their Best Places to Work in 2021, while the Australian Banking Innovation Awards named it the Most Innovative Financial Institution. In 2020, Wisr was Finnies Outstanding Fintech Leader of the Year and the Women in Finance Awards Fintech Leader of the Year at the.
“Expanding the volume of high-quality loans is the primary revenue driver for Wisr,” Beaumont says. “We’re always expanding our product set to broaden relevance to the broker community.”
These innovations include Wisr’s secured auto loans, reward schemes that encourage quality applications and auto-decisioning tools to speed up application assessments. Beaumont believes Wisr’s innovations and subsequent are an example of the resilience and success the Australian business community have shown throughout the COVID-19 pandemic – and that The CEO Magazine’s Executive of the Year Awards are the perfect way to highlight that.
“Events that shine a spotlight on the exceptional resilience of the industry will help support and elevate the community as well as show Australia’s leadership in business, technology innovation, finance and commerce.”