Beyond Music Sharing: An Evaluation of Peer-to-Peer Data Dissemination Techniques in
Beyond Frontiers: Fintech and Peer to Peer...
Transcript of Beyond Frontiers: Fintech and Peer to Peer...
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Beyond Frontiers: Fintech and Peer to Peer Lending
Mark YoungCEO & Co-Founder
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Challenges for the Incumbents
Hig
h Co
st
Low G
rowth
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Opportunities from Digital Technologies
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Disrupting Financial Services
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The Scenario
People have a need and want a loan to pay for it
The experience of applying for a loan is tedious and time consuming
Long wait for responses &
opportunities missed
Borrowers
Investors
There are many liquid Caribbean
investors
There are few options for investment
Options available can be confusing or disappointing
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The SolutionBorrowers
Investors
Provide a new alternative investment
opportunity
Facilitate Lenders and Borrowers
working together
Make the investment easy to use and
simple to understand
Provide an alternative way to
obtain a loan
Make the experience of applying for a loan convenient and easy
Drastically cut the time to get an answer so the emotion of
the need is still there
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How It Works
“How Peer to Peer Lending works at www.Carilend.com”https://www.youtube.com/watch?v=jgk0d7vQBZ0
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Keys Points
DIVERSIFICATION RESERVE FUNDHIGH QUALITY BORROWERS
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Borrowing Activity
Loan Amount
Loan Term
Interest Rate
$17,899
51 Months
11.66%
$15,075
49 Months
11.47%
2019 2018
Decline Rate 57%
Averages
73%
$9,112
43 Months
11.32%
2017
74%
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Reserve Fund Position
Reserve Fund
Projected Defaults
Coverage Ratio
6.61%
4.29%
154%
Actual Defaults 1.36%
2019
6.24%
4.25%
147%
0.36%
2018
5.10%
4.22%
121%
0.00%
2017
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Reserve fund coverage of Total Loans
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Lending Activity
AverageInvestment
AverageInterest Rate
$34,542
8.17%
Total InterestPaid to Lenders $819,341
8.03%
2019 2018
$29,535
7.93%
2017
$23,765
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Results
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Mitigating Risk
AML/KYC• Adherence to Caribbean highest standard AML regulations• Technology partner built to “border control” standards• 3rd party KYC solution for PEP/Sanction/Watch List etc• Payments only to and from verified local Barbados $ accounts• Highly automated transaction monitoring and suspicious transaction identification
Regulation• Adopted UK regulatory framework - No regulatory framework within Caribbean • Technology platform built to UK FCA regulatory standard• Procedures built to UK P2PFA Operating Standards
Credit Risk• A risk partner with Caribbean and other developing markets experience• Bespoke proprietary origination scorecard• Reserve fund with risk adjusted contributions
.
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Lessons Learned
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How Do You React?
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Questions
Feedback
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