Katedra Matematyki

Encouraged because of the popularity of electronic banking institutions like Revolut and N26 the group of committed experts has added their savings that are own money to begin Lion Lender.

The core team is comprised of specialists who possess considerable expertise in finance, IT, marketing, company development, information safety and appropriate. They truly are originating from worldwide banking institutions, major regional IT businesses, fin-tech company, and electronic marketplaces. Lion Lender could be the step that is first produce an electronic bank in Russia.

Their objective is always to raise the economic literacy regarding the neighborhood populace. Everyone else must have simple and convenient usage of economic solutions without borders – global, and realize obviously all of the advantages and dangers of lending options.

The business ended up being started in 2018. Ever since then the team ended up being taking care of IT-system, marketing research, item development, etc., plus in 2019 the entity that is legal operation company had been founded and product product product sales had been launched. Presently, the united team comes with 28 experts. The mortgage profile during the brief moment is EUR 2 million, with profits of almost 100 thousand euros.

“Lion Lender” is a brand that is unusual for the business in Russia. The majority that is overwhelming of MFIs brands in Russia are linked to ‘cash’ or ‘money’. The group chose to make use of the European approach in operating the business enterprise and branding. Furthermore, the scientists found that prospective clients aren’t responsive to the business title when you look at the short-term loans market. It’ s most critical to possess an excellent item and exemplary advertising. Lion as an expression of security, confidence, and duty, that is essential whenever using cash.

How it operates?

The entire process of acquiring new business is very directly ahead- the customer that is potential for short-term loans online and sees an advertising on the net after which extends to Lion Lender’s site.

Then your customer can choose the mortgage quantity in addition to loan term they require. The payment terms are visible immediately. Then he or she fills in the application form with the personal information for click now evaluation and scoring purposes if the client agrees with the terms. Lion Lender then makes use of its very own CRM system with outside integrations for operating the scoring model.

The databases that are external ‘Scorista’ solution- the Russian Government Digital Services and credit bureau info is essential to decide of this application for the loan approval. In the event that loan is authorized, the customer should signal the contract making use of the signature that is digital from then on, the mortgage is given in moments towards the client’s bank card or account. Most of the procedures just just take lower than 20 mins for brand new customers as well as less time for consistent consumers.

The advanced IT system having a outside scoring model enables approving loans simply to accountable borrowers. Also repeated customers feel the scoring system once more. The scoring model is peaceful conservative and rejects significantly more than 90% of brand new applications and over 15% of duplicated applications. Lion Lender intends to retain the stability between your high development of their company additionally the loan profile quality later on. Nevertheless, as soon as the loan defaults, Lion Lender makes use of certified debt collectors to have the loan back and minimizes the losings. =

Customers

Presently, Lion Lender has clients that are nearly 10K. The goal market is individuals over 30 with family members, who knows what they desire cash for, just how much as well as for the length of time. They don’t submit an application for the absolute most or even for a term that is maximum leads to having to pay the mortgage right back reliably as well as on time.

The customer that is typical a family members man/woman, 33 yrs . old with normal earnings around EUR 550, additional or maybe more training, smartphone and online users. The retention price is finished 50% now. As time goes on, these are generally about to boost the customers that are returning to 75%.

The normal earnings associated with clients is fairly high and as a result of plumped for potential audience, the standard price for Lion Lender is gloomier compared to the industry average of 15.6per cent. More over, the scoring system is performing its work by continuing to keep the standard price for the borrowers low. The aim is to take care of the standard price during the level that is current since this will be a motorist for development within their selected development strategy.

The item

Presently, only 1 item exists for investment- the loans that are short-term the wage (under thirty day period). The attention price is managed because of the Central Bank of Russia, the mortgage price is restricted as much as 1% per time (up to 365per cent p.a.). This will be in line using the competition.

Presently, the group is working constantly to give you the chance to provide our consumers additional solutions like money-transfer, P2P opportunities, long haul loans with payments and application that is mobile.

The typical loan for brand brand new clients is about EUR 140, as well as the typical loan quantity for perform clients is EUR 210. Probably the most regular loan purposes are investing in bills and for family members shopping.

Present future and situation

The Russian marketplace is quite competitive in micro-financing services, therefore it is extremely important to own a good business design. The key rivals would be the solutions which have exactly the same 100% online model as Lion Lender and such young organizations which joined the marketplace recently and currently accomplished quite high brand name understanding, as an example, organizations like PlanetaCash or EpicCash and ‘old dogs’ like Zaymer, Moneza, and Ezaem.

Regional legislation may be the primary challenge in Russia. The Central Bank of Russia slice the rate of interest from 1,5percent a day to at least one% per pay recently and issued brand new legislative initiatives that are great for clients but result in the micro-financing company more complex.

Because of Lion Lender’s primary goal -building a digital bank in Russia they concentrate on the neighborhood company, but when it’s accomplished, they will have long-lasting aspiration intends to expand their company abroad.

Let’s welcome the new Loan Originator on Grupeer platform!