TechCrunch analyzes rates at marketplace lending platforms, identifying a trend towards increased delinquencies and borrowing rates for lower credit quality borrowers; platforms have been increasing rates for lower credit quality consumers to potentially offset some of the higher risk of defaults; analysts have speculated that the changes occurring in the lower credit quality categories could be a sign of recession however other economic factors appear to be stable; TechCrunch identifies a significant change occurring in the labor market that could be influential for borrowers over the long term; the automation of jobs is affecting the labor market and the result could disrupt a number of historically stable industries while also changing the tech industry substantially. Source
Online Lending
Understanding the millennial customer is a key for most lenders in the market today and Stephen Dash of Credible explains how his firm handles this challenge during his fireside chat at LendIt USA 2017 with Dakin Campbell of Bloomberg; identifying who the millennial is and how they consume information will help you to tailor your products to this group; 25% of consumers today fall into the millennial category and Credible believes a strong, focused product set will help them to service this generation efficiently; before looking to sell other types of services you must first build a relationship with them, trust can be eroded in an instant; ensuring a compelling value proposition is the key and fully understanding what the customer needs will help you to hold that customer over the lifetime; ultimately customers are co-owned and you can help to make sure your relationship lasts by showing a loyal and durable product set. Source