LendingClub connects investors with borrows over the web, passing the savings of a branchless bank on to its customers. LendingClub has funded roughly $27B in loans since its inception, but despite their ongoing success, CFO Tom Casey predicts loses in 2017 to be between $69 - $84 million.
Central to LendingClub’s success is approving the right loans for the right people at the right rates. But loans issued in 2016 have already resulted in $157 million in charge-offs. Reducing charge-offs benefits both investors and borrows; well designed predictive model could help to significantly reduce charge-offs and losses.
Purpose of the Loan
Debt to income ratio
Annual Income
Number of credit accounts
Average age of credit account
Term
Interest Rate
...
