Similar yes, but different in that the financier is not paying up front; they are paying monthly. And with around 50% conversion from on-board to unconditional, BIG can still be profitable; with the advantage of the model being that uptake can be rapid (which leads to pillar 2 & 3). And with Zeta on board, marketing can be targeted to potentially increase the quality & convertibility of the customer.
Australia has been the testing ground, and yes there have been mistakes made, including misleading cash flow reporting (imo). However, the potential in the US is huge, and if BIG is enabled to continue to operate (through smart partnerships) I think it can get itself back on track. Part of that will require expansion/re-organisation of the board & getting rid of the CEO, so that trust can be restored.
Stakeholder Update 27 March 2018, page-114
Currently unlisted. Proposed listing date: 09 APRIL 2025 11:00 AM AEST ##
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