Will a $3.99 Monthly Initiative Revolutionize Accessible Cash Advances for the Average Joe?
The Disruptor Joe Consumer was more than a simple guy living in a modest apartment in Queens. He was a dreamer, an idealist who wanted to bring financial empowerment to millions of Americans. At 32, he’d done his time working for large tech companies, where he learned a lot about what not to do. Joe […]
🎯 “Maximizing ROI: The Pros and Cons of Pausing Lead Purchases on Mondays and Fridays”
The pros and cons of changing your lead purchasing and staffing strategy. Resource allocation and strategy optimization are crucial for long-term success in the competitive landscape of consumer lending. One proposed strategy is to pause the purchase of leads on Mondays and Fridays, which historically show lower conversion rates and reallocate staff efforts towards converting […]
🤑All Talk, No Cash: Why Trade Associations Are Like That Friend Who ‘Forgets’ Their Wallet!💔
Alternative Financial Services Industry Fights CFPB All right, let’s break this down in simpler terms. You’re in the small-dollar lending business, and there’s some legal stuff going on that could affect you. The CFPB, or Consumer Financial Protection Bureau, made a rule about small business lending. Some trade associations are telling the CFPB to hit […]
2024-Navigating the Texas Credit Access Business CAB & CSO: A Comprehensive Guide for CABs, CSOs, 3rd-Party Lenders, Regulators & Consumers
The personal lending landscape can be complex, filled with various regulations and guidelines that lenders must navigate. Texas, known for its robust economic environment, is no exception. One option available to lenders in Texas is to operate under the Credit Access Business (CAB) / Credit Services Organization (CSO) model with a 3rd-party lender. This blog […]
Cost Per Funded Loan: The Ultimate Efficiency Hack for Lenders
💰📊💡 Looking to take your lending business to the next level? You’re in the right place! This blog post unravels the magic behind a powerful metric called Cost Per Funded Loan (CPFL). Whether you’re a seasoned lender or just getting started, understanding and optimizing your CPFL could be the game-changer that skyrockets your efficiency and […]
Insider Secrets: 70 KPIs Top Subprime Lenders Use to Dominate the Market!
As a highly regarded consultant in the B2C subprime lending industry, I understand the importance of tracking various key performance indicators (KPIs) to maximize loan portfolio performance, minimize subprime borrower defaults, and earn a maximum return on investment (ROI) on balance sheet capital. Below is a comprehensive list of 70 critical KPIs for subprime lenders: […]
Leveraging the Refinancing Rate [RR]: A Powerful KPI for Subprime Lenders
Introduction The Refinancing Rate (RR) is a crucial Key Performance Indicator (KPI) for subprime lenders seeking to understand their loan portfolio’s performance. The RR reveals the proportion of loans that get refinanced within a specific period, providing valuable insight into the sustainability of your portfolio. The Importance of Refinancing Rate The Refinancing Rate [RR] is […]
KPI: Cross-Sell Ratio [CSR] for Subprime Lenders
Boost Your Bottom Line: Cross-Sell Ratio Tactics for Subprime Lenders Definition and Precise Measurement of CSR: The Cross-Sell Ratio refers to the ratio of the number of products or services sold per customer. It measures how effectively you can increase the number of services or products a single customer uses. For your lending institution, it measures […]
Subprime Lender Loan Charge-Off Rate (LCR) – Definition and What It Measures
Loan Charge-Off Rate (LCR) – Definition and What It Measures The Loan Charge-Off Rate (LCR) is a Key Performance Indicator (KPI) that quantifies the rate at which a lender’s loans are deemed unlikely to be recovered and written off as a loss. It measures the risk and effectiveness of a lender’s credit decisions and recovery […]