It’s possibly too late Noomxx for old style financiers to...

It’s possibly too late Noomxx for old style financiers to compete against the phalanx of online finance disrupters now in the marketplace - 63 at last count and many of them pitching to the hospitality industry with sleek fast application and approval systems plus low, low overheads. Just check out ebroker.com.au (you often see their banner adverts on Hotcopper).
The SIV recent announcements and downgrades on underlying results in Hospitality show all the signs of their offerings under competitive pressure - lower volume and tighter margins.

Add to it the F up that is GoGetta, the only conclusion is - this ain’t a turn around story. My tip is that the GoGetta loan book at $77m will end up $30m to $40m short once they have worked through the crap left to collect and found it uncollectible. That’s $40m “lead in the saddlebag” for an old former champion (Hospitality) - already finding it harder to compete against the newer, faster entrants.