Policy

Product Design and Distribution Governance Framework and Policy

Current Target Market Determination TMD

Wisr’s TMD can be defined as follows:

  • Consumers seeking a short to medium term secured or unsecured loan for a worthwhile purpose

  • Consumers whose annual gross income is sufficient to service the loan

  • Consumers who are over 18 years of age

  • Consumers who are in a prime credit worthy segment, as defined in Wisr’s credit policy

  • Consumers who can afford the loan repayments without financial difficulty and are not currently in financial hardship

  • Permanent Australian residents or citizens and currently residing in Australia, including New Zealand citizens

Exclusions are classified as those consumers that do not qualify under the TMD.

Wisr offers Unsecured Personal Loans and Secured Vehicle loans. As well as the criteria above, secured loans have the following additional condition:

  • Eligible motor vehicles see wisr credit policy are the only acceptable asset class

This TMD will be publicly available on our website and available to all distributors through the broker portal. All distributors will be sent a copy of our latest TMD whenever the TMD is changed.

Wisr’s TMD will be reviewed annually, the review will consider whether the product is meeting the likely objectives, financial situation and needs of the target market and whether the performance of the product is materially different from what Wisr originally expected and communicated to consumers and distributors.