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Post by westonkevRS on Dec 12, 2014 22:31:07 GMT
I'm not going to post everything here, just stuff I think interesting because it's risk based or P2P geeky. Anyways, although RateSetter has always used one credit reference agency with a second on a selective basis, we are now a 100% dual bureaux user: www.ccrmagazine.com/index.php?option=com_content&task=view&id=12424&Itemid=9Not all banks use a dual bureau strategy, but in my experience you only get around 85% of customer data using one data provider. This obviously costs RateSetter money, but is an indicator of our commitment to only lending to good quality customers. Kevin.
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Post by moneyball on Dec 13, 2014 10:21:16 GMT
Kev,
Out of curiosity, given 85% knowledge when using one source, what ratio/percentage of loan applicants who would have previously been accepted will now be rejected?
Conversely, how many who were previously rejected will now be accepted?
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Post by westonkevRS on Dec 13, 2014 16:28:35 GMT
Not many, just maybe 1 or 2 applications a week where we identify something really bad that we now decline where previously would have approved. So perhaps £10k a week, which would have been at higher risk of default on what looked a good loan.
The real challenge will be when we move strategically from this simple double check, to a more blended risk strategy using characteristics and scores within a multi dimensional approval and pricing strategy. That'll be the fun, although I've done it before a few times so I'm looking forward to the challenge.
Kevin.
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warn
Member of DD Central
Curmudgeon
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Post by warn on Dec 14, 2014 9:07:31 GMT
...when we move strategically...to a more blended risk strategy...within a multi dimensional approval and pricing strategy... ...You'll say a better lending manager has never sat a gee.
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Post by westonkevRS on Jan 19, 2015 19:03:34 GMT
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agent69
Member of DD Central
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Post by agent69 on Jan 19, 2015 21:12:04 GMT
" Ratesetter allows investors to lend to either businesses or the public while setting their risk parameters"Have I missed something?
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Post by westonkevRS on Jan 19, 2015 21:26:40 GMT
Journos, what can you do. Never let the facts get in the way of a good story. Although I might argue term is a big risk factor....
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Investor
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Post by Investor on Jan 19, 2015 23:41:46 GMT
More amusing if you read the ES tonight was the two column inches RS got compared with the whole page spread on another P2x provider albeit not a direct competitor.
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Post by westonkevRS on Jan 20, 2015 6:53:37 GMT
More amusing if you read the ES tonight was the two column inches RS got compared with the whole page spread on another P2x provider albeit not a direct competitor. It's a good business, a profitable niche ripe for disruption and nice people that are also good at football (although we still beat them in the P2P 5-a-side World Cup). My only question mark, are they really P2P ?
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Post by westonkevRS on Mar 30, 2015 7:10:17 GMT
I've been really excited about this news, really glad it's now out. Neil Woodford the "household City name" and his Woodford Investment Management firm has invested in RateSetter. Apologies for the photo, but I don't subscribe to The Times; [Sorry - edited out for reasons of copyright. www.thesundaytimes.co.uk/sto/business/Finance/article1537207.ece ]
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Post by westonkevRS on Mar 30, 2015 7:29:24 GMT
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jonbvn
Member of DD Central
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Post by jonbvn on Mar 30, 2015 7:57:24 GMT
Getting Woodford to invest is a fantastic achievement. I really trust Woodford's opinion - well I should given that I have invested in his funds. My only concern is whether this could lead to an IPO......
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Post by westonkevRS on Mar 30, 2015 10:25:02 GMT
If it leads to an IPO you can be a lender and investor. Isn't share ownership on the LSE the original crowd equity model? @ westonkevRS
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teddy
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Post by teddy on Mar 30, 2015 13:08:09 GMT
Woodford's even wearing a magenta tie! Talk about going all in!
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mike
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Post by mike on Mar 30, 2015 13:26:57 GMT
westonkevRS Any plans for Ratesetter to give it's lenders an opportunity to invest similar to the current equity raise over at Assetz Capital?
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