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Assessing client Experience of this First CDFI-fintech partnership
in Payday Loan Today
Today, weвЂ™re very happy to launch brand new findings from our assessment for the partnership between chance Fund and LendingClub.
Today, weвЂ™re very happy to launch brand new findings from our assessment associated with the partnership between chance Fund and LendingClub.
The report, High-Tech, tall Touch: assessing the client Experience for the First-Ever CDFI-Fintech Partnership, shows key findings from qualitative phone interviews with borrowers whom received that loan from us through the LendingClub platform recommendation. Because the first-ever CDFI-Fintech partnership, we online payday LA constructed on final yearвЂ™s evaluation of the revolutionary collaboration by hearing straight through the small businesses that are profiting from it.
With large economic help from JPMorgan Chase, chance Fund worked with lovers at Palmer analysis and Baccus analysis to conduct interviews with your borrowers to better comprehend their experiences and choices. Especially, our qualitative research objectives included:
- Determine on the web borrowersвЂ™ level and experience of satisfaction because of the loan procedure
- Ascertain the amount of connection borrowers have actually with chance Fund together with characteristics that drive that connection
- See whether the experience varies for LendingClub vs. borrowers that are bank-referred
- Find out how chance Fund can better develop a relationship featuring its borrowers that are online
After analyzing and conducting 35 debtor interviews (25 with LendingClub-referred borrowers and 10 with an evaluation selection of bank-referred borrowers), our scientists discovered: