Peer-to-Peer Lending: Examining the Industry and the Borrower ExperienceCorporate Insight
Online peer-to-peer (P2P) lending websites, often referred to as “Shadow Lenders”, have gained significant traction since the credit crunch resulting from the 2008 financial crisis. The purpose of these rapidly-growing websites is to facilitate loans of under $35,000 between borrowers and investors. The result is a transparent loan platform where individual investors can determine a borrower’s credit worthiness and partially or fully fund a loan at an attractive interest rate.
This slide deck offers background on the P2P lending industry and takes a closer look at the borrower experience by profiling two leading firms in the space – Prosper and Lending Club. Five key takeaways and tips for P2P lenders are also highlighted.
Bryan Zhang / Insights from the latest Peer-to-Peer Lending ResearchJames by CrowdProcess
Bryan Zhang: Insights from the Latest P2P Lending Research
Keynote address by Bryan Zhang, of University of Cambridge, at LendIt Europe 2014. The title of this presentation is Insights from the Latest P2P Lending Research.
Lending Club Review: What Investors and Borrowers Need to KnowJonDyer9
Lending Club is the leader in peer to peer lending. They recently had a successful IPO resulting in a total valuation of $9 billion. In this review of Lending Club we discuss their history, how it works and potential advantages over traditional banks. We also analyze why investors should consider Lending Club as well as the potential savings that borrowers and expect.
Marketplace Lending in the U.S. - An industry overview March 2015Rajesh Kamath
This is a study of the marketplace lending business in the U.S.
Marketplace lending (used to be called peer-to-peer or P2P lending earlier) is growing at a scorching pace in some lending segments, which traditional lenders might have all but abandoned. It represents technology-led disruption in the personal and small business lending space. What started life as 'borrowing from friends, family and peers' has turned into a broader 'marketplace' model, and might be on the cusp of becoming a mainstream lending channel in the next few years.
It is getting increasing attention (and investments) from established institutional financial players.
This study intends to provide an overview of what the marketplace lending business is all about. It takes a deep dive into the structurals - products, customers, regulations, platform models and who is investing in this space. It also lists the key success factors in this business, and tries to gaze into the future of what might be in store for this business in the coming few years.
Peer-to-Peer Lending: Examining the Industry and the Borrower ExperienceCorporate Insight
Online peer-to-peer (P2P) lending websites, often referred to as “Shadow Lenders”, have gained significant traction since the credit crunch resulting from the 2008 financial crisis. The purpose of these rapidly-growing websites is to facilitate loans of under $35,000 between borrowers and investors. The result is a transparent loan platform where individual investors can determine a borrower’s credit worthiness and partially or fully fund a loan at an attractive interest rate.
This slide deck offers background on the P2P lending industry and takes a closer look at the borrower experience by profiling two leading firms in the space – Prosper and Lending Club. Five key takeaways and tips for P2P lenders are also highlighted.
Bryan Zhang / Insights from the latest Peer-to-Peer Lending ResearchJames by CrowdProcess
Bryan Zhang: Insights from the Latest P2P Lending Research
Keynote address by Bryan Zhang, of University of Cambridge, at LendIt Europe 2014. The title of this presentation is Insights from the Latest P2P Lending Research.
Lending Club Review: What Investors and Borrowers Need to KnowJonDyer9
Lending Club is the leader in peer to peer lending. They recently had a successful IPO resulting in a total valuation of $9 billion. In this review of Lending Club we discuss their history, how it works and potential advantages over traditional banks. We also analyze why investors should consider Lending Club as well as the potential savings that borrowers and expect.
Marketplace Lending in the U.S. - An industry overview March 2015Rajesh Kamath
This is a study of the marketplace lending business in the U.S.
Marketplace lending (used to be called peer-to-peer or P2P lending earlier) is growing at a scorching pace in some lending segments, which traditional lenders might have all but abandoned. It represents technology-led disruption in the personal and small business lending space. What started life as 'borrowing from friends, family and peers' has turned into a broader 'marketplace' model, and might be on the cusp of becoming a mainstream lending channel in the next few years.
It is getting increasing attention (and investments) from established institutional financial players.
This study intends to provide an overview of what the marketplace lending business is all about. It takes a deep dive into the structurals - products, customers, regulations, platform models and who is investing in this space. It also lists the key success factors in this business, and tries to gaze into the future of what might be in store for this business in the coming few years.
P2P lending market has a lot of potential for both its lenders and borrowers to prosper in Marketplace run online lending services that can quickly and effectively grow their money.
P2P Lending for Institutional Investors and Wealth Managers: An OverviewPMIFunds
P2P lending (or peer-to-peer lending) is a fast growing space in which any individual or organization can lend money directly to another individual through an online p2p lending platform such as Prosper or Lending Club. The transparency, ease-of-use, and ability to quickly make a loan request or fund a loan at competitive interest rates make P2P lending attractive for both borrowers and lenders
Peer-to-Peer lending: What is Lending Club?David Peat
A presentation given to the Trade and Investment Society on Lending Club, a peer-to-peer lending start-up and currently the largest P2P lending company on the planet.
Wharton FinTech Club hosted a seminar on P2P (peer-to-peer) lending in October '14. Take a look at our key insights and analyses on this fast-growing industry!
Are you baffled by jargon when it comes to investing? At Huddle we want to educate everyone about peer to peer lending, and help you get to grips with the concepts behind crowdfunding so that you can make more informed choices about money matters. Follow our blog at www.huddlecapital.com for more educational content.
Peer to peer lending will work the whys and howsdhirencash
The presentation gives 3 strong justifications for peer to peer lending to succeed in India. It states that this concept will really help in the growth of the economy while providing an alternate source of credit
P2P Investment Returns on Fully Managed AccountsSummer Tucker
P2P lending enables individual investors to access the new asset class of consumer credit by facilitating loans to borrowers through online marketplaces like Lending Club and Prosper. Here is the historical performance.
This short guide provides you with an introduction to how you can earn attractive returns of between 5-12% pa* by investing in Peer-to-Peer Loans secured against UK income producing Commercial Property.
*After fees, but before bad debts & taxes. Capital at risk
This presentation is about the use of technology and innovative business models in financial services. It was presented at a conference entitled "Disruptive Innovations in Financial Services" sponsored by the Institute for Financial Services Analytics (IFSA) in the Lerner College of Business and Economics at the University of Delaware on March 3, 2016.
P2P lending market has a lot of potential for both its lenders and borrowers to prosper in Marketplace run online lending services that can quickly and effectively grow their money.
P2P Lending for Institutional Investors and Wealth Managers: An OverviewPMIFunds
P2P lending (or peer-to-peer lending) is a fast growing space in which any individual or organization can lend money directly to another individual through an online p2p lending platform such as Prosper or Lending Club. The transparency, ease-of-use, and ability to quickly make a loan request or fund a loan at competitive interest rates make P2P lending attractive for both borrowers and lenders
Peer-to-Peer lending: What is Lending Club?David Peat
A presentation given to the Trade and Investment Society on Lending Club, a peer-to-peer lending start-up and currently the largest P2P lending company on the planet.
Wharton FinTech Club hosted a seminar on P2P (peer-to-peer) lending in October '14. Take a look at our key insights and analyses on this fast-growing industry!
Are you baffled by jargon when it comes to investing? At Huddle we want to educate everyone about peer to peer lending, and help you get to grips with the concepts behind crowdfunding so that you can make more informed choices about money matters. Follow our blog at www.huddlecapital.com for more educational content.
Peer to peer lending will work the whys and howsdhirencash
The presentation gives 3 strong justifications for peer to peer lending to succeed in India. It states that this concept will really help in the growth of the economy while providing an alternate source of credit
P2P Investment Returns on Fully Managed AccountsSummer Tucker
P2P lending enables individual investors to access the new asset class of consumer credit by facilitating loans to borrowers through online marketplaces like Lending Club and Prosper. Here is the historical performance.
This short guide provides you with an introduction to how you can earn attractive returns of between 5-12% pa* by investing in Peer-to-Peer Loans secured against UK income producing Commercial Property.
*After fees, but before bad debts & taxes. Capital at risk
This presentation is about the use of technology and innovative business models in financial services. It was presented at a conference entitled "Disruptive Innovations in Financial Services" sponsored by the Institute for Financial Services Analytics (IFSA) in the Lerner College of Business and Economics at the University of Delaware on March 3, 2016.
Alternative Data: Transforming SME FinanceJohn Owens
This presentation summarizes the IFC/World Bank/G20 GPFI report on the landscape of alternative data and players that are expanding access to SME finance. This presentation was prepared jointly with the effort of my co-author Lisa Wilhelm. The complete report can be downloaded at https://www.smefinanceforum.org/post/alternative-data-transforming-sme-finance
The business case for Personal Financial Management (PFM) — and MoneyDesktop (MD) specifically — continues to get better and better each year. As proof, we’ve gathered data from dozens of compelling sources. This data collectively answers three key questions:
1. Why Change?
2. Why PFM?
3. Why MD?
The answers to these questions showcase why MD continues to bring a phenomenal return on investment (ROI) for financial institutions everywhere.
Let’s get started.
Looks at why mobile payments hasn't taken off in most places around the world and what has to happen for mobile payment platforms to ignite. Keynote presentation at the Berkeley Mobile Money Conference on October 11, 2013
Presentation examines antitrust economics of vertical restraints including tying, exclusive contracts, bundling, MFNs, the role of critical mass and platform ignition, possible anticompetitive strategies, and procompetitive explanations for vertical restraints.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
2. Remember life before the Internet?
Circa 1970 businesses !
captured value through…
Vertical
integration
Scale
Brand
Poor value
exchange
Limited choice
Limited
information
For the consumer
this meant…
3. The technology revolution delivered major efficiency gains
Cost of a 10
minute phone call
1970 Today
90x
$4.50
$0.05
Size of a computer
(cubic feet)
1970 Today
100x
~20
~0.2
TV channels "
available
1970 Today
40x
5
200
Note: Phone calls are domestic, 1970s call was LA-NYC!
Sources: Federal Communications Commission “Trends in the U.S. International Telecommunications Industry” August 1998, AT&T website April 2014, Xfinity website April 2014, “The Evolution of TV Viewing” by John Carey of Fordham University 2002,
PCWorld “Timeline: 50 Years of Hard Drives” September 2006
4. Banking has not experienced the
same improvements
No efficiency gains since 1900
Net US revenues of financial intermediaries as % intermediated assets (i.e.
unit cost of intermediation)
Note: Quality Adjusted!
Sources: Liberum “Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation”, Philippon Thomas, March 2014, http://bit.ly/1gRuAEB
5. Early 1970s Today
Consumer value capture is even lower today
0%!
4%!
8%!
12%!
16%!
~8%
~13%
Borrower Rate
Savings Rate
Note: 1970 borrower rate is commercial bank interest rate on 24 month personal loan Feb 1972; Today borrower rate is commercial bank interest rate on credit cards assessed interest Feb 2014; 1970 savings rate is average 3 month secondary market CD rate
Feb 1971-1973; Today savings rate is 3 month CD rate in the secondary market as of April 2014
Sources: Federalreserve.gov G.19 and H.15 reports, bankrate.com April 2014
6. The banking industry became more concentrated
~ 20% ~50%
Early 1970s Today
Top 10 banks share of deposits
Note: Today marketshare is based on 2013 data!
Sources: SNL Financial 2014, Federal Reserve Bank of Richmond Economic Quarterly Volume 92/4 Fall 2006
7. There is limited differentiation
PREMIUM MULTI-SPECIALIST WINNERS
VALUEFAILING
Strong
Weak
Quality
StrongWeak Value
Trader Joes
Costco
Whole Foods
Grocery
stores
USAA
Wells Fargo
Capital One
Credit Unions
Citi Bank
BOA
TD"
Bank
Banks
Note: N ~3,000!
Source: Oliver Wyman consumer survey
8. Banks even look the same
Wells Fargo Bank"
San Francisco!
Today
Union Trust Company
San Francisco!
Early 1900s
Source: artandarchitecture-sf.com
9. 4. Sharing!
economy
3. Many to many!
marketplaces
2. Marketplaces
OMG. The Internet.
1. Online
storefronts
% US Adults"
buying online:
~20%"
(2000)
~70%"
(2014)
Improved efficiency, more information, expanded choice
Note: Measure is % of US Adults who report ever purchasing a product online; Data is averaged across sources for 2014!
Sources: PEW Internet Research Project, E-Marketer, Walker Sands Communications
10. 10%
20%
30%
40%
50%
60%
70%
200520062007200820092010201120122013
A few examples in financial services
20
40
60
80
100
120
140
1975 1995 1998 2004 2010 2014
Internet enables lower cost Aggregated information, easy transact
$ per trade "
(Charles Schwab)
% UK car insurance originations"
from online aggregators
1. Online Storefront 2. Marketplaces
Sources: Oliver Wyman, Wired, CNN
11. Walmart can’t sell you a broken laser
pointer…but I can
Revenue ($bn)3. Many to Many Marketplaces"
!
- more choice"
- lower cost"
- efficient pricing
Source: Ebay financials
12. The rise of sharing
Views
About 32,000,000 results
1m"
(2004)
1,200m"
(2013)
Users
20k"
(2007)
500m"
(2013)
Tweets per day
Uploaded hours per minute
0.6"
(2006)
100"
(2013)
Sources: Oliver Wyman, Facebook, Twitter, Youtube press releases, Video is from YouTube
13. Slower start for sharing of financial
information, but growing fast now
1,010
300
80
120
10
2
2009
2012
Users (M)
Source: Facebook Paypal Mint press releases
14. 0
10
20
30
40
50
60
70
80
90
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
A shift in the national psyche
Google search index “happiness” (US only)
Search for happiness "
and fulfillment rises "
in importance
Backlash against "
consumerism and "
banking industry
Building businesses out of passions and hobbies
Note: Monthly average of weekly index data pulled April 2014!
Source: Google trend
Things that matter.
Pass 'em on.
“Helping our generation !
understand what’s !
happening in the world.”
Christopher Altek!
& Jake Horowitz
Eli Pariser &!
Peter Koechley
15. And the sharing economy was born
4. Sharing Economy
Higher utilization of my existing assets Sharing with each other
16. Leading sharing economy marketplaces
are highly valued
8 highest valued US VC-backed private companies
Total equity funding Latest valuation
Part of the sharing economy
Source: Wall Street Journal “Billion-Dollar Startup Club” January 2014 http://graphics.wsj.com/billion-dollar-club/
17. The convergence of Internet trends &
banking gave birth to marketplace lending
Source: McKinsey & Company
Operating expenses as % of outstanding loan balance
Internet enabled low cost model
1. Online storefronts
Traditional
Bank Lender Lending Club
18. The convergence of Internet trends &
banking gave birth to marketplace lending
One place for transparent information
and transaction made easy
2. Marketplaces
19. The convergence of Internet trends &
banking gave birth to marketplace lending
Lower intermediation costs, more choices
3. Many to many marketplaces
All Loans originated and issued by WebBank, a FDIC insured Utah state bank. 1. Servicing fee is average for 60-month loans.
Principal + Interest
Funding
Investors
Borrowers
20. The convergence of Internet trends &
banking gave birth to marketplace lending
Higher utilization of existing assets
4. Sharing economy
~13%
Borrowers Rate
Investors Rate
0%!
4%!
8%!
12%!
16%!
~5%
Traditional Bank
Lenders
Lending Club
Note: Average Lending Club Interest Rate for 36-month loans in Q1 2014.; Lending Club Investor Rate is Median Adjusted Net Annualized Return for investors with 100+ notes, note concentration of <2.5% of
portfolio value, and portfolio age of 12-18 months; !
Traditional Bank Lender borrower rate is commercial bank interest rate on credit cards assessed interest Feb 2014; Traditional Bank Lender savings rate is 3 month CD rate in the secondary market as of April 2014
Sources: Lending Club, Federalreserve.gov G.19 and H.15 reports, bankrate.com April 2014
21. Marketplace lending is becoming
increasingly diverse
Consumer
Pay Day
Purchase
Finance
Education
Financing
Real Estate
Merchant Cash
Advance
SMB Credit
Source: Foundation Capital 2014
22. And a global phenomenon
$
$2.4bn
$1.4bn
$1.9bn
Sources: Liberum “P2P Lending: Opportunity & how to invest” March 2014
23. Experiencing rapid growth
Lending Club Prosper Funding Circle Zopa Ratesetter
CAGR: 130%
LoanOriginations($Billions)
Sources: Liberum “P2P Lending: Opportunity & how to invest” March 2014
24. Lending Club leading the way
$791,348,200
($Millions)
Annual Run Rate:"
$3,165,392,800"
!
Year over year Q1:"
124%
25. Benefiting from lower operating costs
Lending Club
in 2015
Traditional
bank lender
Lending Club’s
cost advantage
Opex / total balance outstanding, Basis points
135 is
steady
state, ~40
is excess
mktg in
2015 to
fund
growth
40
Marketing
175
135
IT
29
Other
28
G&A
20
Origination
19
CS / collection
Billing / fraud
FDIC
Branch
Total opex
310
270
40
695
100
35
30
30
100
170
10
220
0
220
425
35
0
10
130
10
80
39
Source: McKinsey & Company
26. While improving customer experience
Borrower"
Net Promoter Score1
Average NPS Scores
Lending
Club
Credit Unions
Com
m
unity Banks
Regional Banks
Credit Cards
National Banks
79 insurance
online services
retail
technology
telco
travel/hospitality
banking
Industry
averages
1. As of April 2014 for borrowers that were approved for loans!
Sources: Bain, Lending Club
33. Partnering with the banks to transform
banking
Bank Partner Happy
Bank Customers
Other Investors
Large Customer Base"
Low cost of capital
Great Customer Experience
Low operating cost+ =