LendIt Michele Raneri April 2016
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1 LendIt 2016 Michele Raneri April 2016 Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without the prior written permission of Experian.
2 Topics to cover OML Trends Deep Dive into OML Loans Industry Best Practices 2015 Experian Information Solutions, Inc. All rights reserved. Experian Confidential. 2
3 Online Marketplace Lending So what IS online marketplace lending? 3
4 OML Industry Unsecured Personal Loans Small Business Loans Education Loans Auto Loans Real Estate Lines of Credit Rentals/ Leases 4
5 Topics to cover OML Trends Deep Dive into OML Loans Industry Best Practices 2015 Experian Information Solutions, Inc. All rights reserved. Experian Confidential. 5
6 Millions Number of loans originations % down from Dec % over Dec % over Dec Personal Secured Personal Unsecured Student Q Q Q Q
7 Average balances $18,000 $16,000 $15,747 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 4% over Dec 2011 $7,949 $10,372 $0 Unsecured Personal Loans Secured Personal Loans OML Loans Q Q Q Q
8 VantageScore 3.0 at origination Avg. US VantageScore 3.0: Higher than consumers who originate unsecured / secured loans Unsecured Personal Loans Secured Personal Loans OML Loans Q Q Q
9 Risk Levels at Origination 60% 50% 40% 30% 20% Avg. VantageScore 3.0: 637 Avg. VantageScore 3.0: % 29% 26% 27% Avg. VantageScore 3.0: % 38% 10% 0% Unsecured Personal Loans Secured Personal Loans OML Loans Super Prime Prime Nonprime Subprime Deep Subprime 9
10 Interest rates Secured Loans 5.0% 7.3% 10.4% 12.8% Unsecured Loans 10.6% 19.4% Revolving Bankcard 0% 5% 10% 15% 20% 10
11 Trendview Segments Consumer Behaviors Consolidator Rate Surfer Revolver Transactor Mixed $$ M1 M2 M1 M2 REVOLVER/ TRANSACTOR Consumer transfers multiple balances to one loan product Consumer balance transfers debt from one product to another Consumer carries a balance from month to month Consumer pays off the entire or majority of the balance every month Consumer exhibits transactor as well as revolver behavior 11
12 Consolidator Rate Surfer Revolver Transactor Mixed Consolidator Rate Surfer Revolver Transactor Mixed Consolidator Rate Surfer Revolver Transactor Mixed Trend View SM segments Unsecured loans Secured loans OML loans 50% 40% 30% 20% 10% 0% Q Q Q
13 Topics to cover OML Trends Deep Dive into OML Loans Industry Best Practices 2015 Experian Information Solutions, Inc. All rights reserved. Experian Confidential. 13
14 -91% to low -81% to -90%2-71% to -80%2-61% to -70%2-51% to -60% -41% to -50% -31% to -40% -21% to -30% -11% to -20% -1% to -10% 0% 1% to 10% 11% to 20% 21% to 30% 31% to 40% 41% to 50% 51% to 60% 61% to 70% 71% to 80% 81% to 90% 91% to high Correlation with Revolving Balances 16% 14% 12% 10% 8% Percentage of consumers with change in revolving balance after OML loan origination Revolving balance went down more than 10% for: 23% consumers 32% Revolving balance went up more than 10% for: 46% consumers 6% 4% 2% 0% 14 14
15 Comparison of Loan Performance New Originations Dec 2014 Performance for the trades (12 months) Dec % 90% 80% 70% 60% 50% 40% 30% Unsecured Loans Secured Loans OML Loans 100% 100% 85% 90% 89% 90% 85% 80% 80% 70% 70% 60% 60% 50% 50% 13% 40% 8% 40% 13% 30% 30% 20% 10% 0% 2% 1% 1% 11% current % 10% 0% 3% 1% 1% 6% current % 10% 0% 2% 2% 2% 9% Current
16 Who s a typical OML borrower? OML BORROWER VantageScore 3.0 = % REV UTILIZATION CREDIT ACTIVE CONSUMER *at least 1 open trade or inquiry 31% VantageScore 3.0 = 687 $9.9K REV BALANCES $5.3K BANKCARD NEW BANKCARD INSTALLMENT ACCOUNTS BANKCARD NEW BANKCARD INSTALLMENT 2.1 (Currently 30+ DPD) 0.7 (Currently 30+ DPD) 0.9 (60+) DELINQUENCIES ON ANY ACCOUNT 0.3 (60+) 16
17 Who s a typical OML borrower? OML BORROWER CREDIT ACTIVE CONSUMER Age of Borrower 45 yrs 50% 40% 30% 20% 10% 0% 4% 21% 43% 30% 2% Age of Borrower 49 yrs 50% 40% 30% 20% 10% 0% 9% 19% 26% 33% 13% Income 40% 30% 35% 25% Income 40% 30% 30% 26% $74K 20% 10% 2% 19% 18% $87K 20% 10% 5% 20% 19% 0% 0% 17
18 Topics to cover OML Trends Deep Dive into OML Loans Industry Best Practices 2015 Experian Information Solutions, Inc. All rights reserved. Experian Confidential. 18
19 Where the industry is heading Not instead of.. But Complementary to Beginning to attract a lot of lenders Traditional lenders mimicking OML Lenders Risk evaluation including more data Application data Small business data 19
20 Industry Best Practices Prequalification Consumer is in the driver s seat No firm offer of credit Offers ability to screen consumers with no affect on their credit Under 21 ok for credit card Credit and/or non-credit options for multiple product types 20
21 Sophisticated Analytics Risk models with segmentation Industry specific models and attributes Business Intelligence Peer Benchmarking Custom models Optimization 21
22 Topics covered OML Trends Deep Dive into OML Loans Industry Best Practices 2015 Experian Information Solutions, Inc. All rights reserved. Experian Confidential. 22
23 Internal Use For additional information: Twitter Handle: MLRaneri 2014 Experian Information Solutions, Inc. All rights reserved. 23
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