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How to Lend Money to Strangers — Business
How to Lend Money to Strangers

A podcast about lending innovation and lending leadership in all the markets in which it takes place, however diverse those markets may be. In fact, it’s a case of ‘the more diverse the better,’ with guests from New York to New Zealand discussing everything from crypto-backed mortgages to crowd-funded loans for refugees to gamified loan journeys to AI-powered credit scores.

I am the host, Brendan le Grange, and I have spent the last twenty years working in – or alongside – lenders in Africa, Asia, and Europe and I’m using that experience to find and learn from industry insiders in a series of weekly interviews. Sometimes, those interviews discuss the inspiration behind a new start-up, sometimes they look back at a career spent at the lending coal face, and sometimes they explore where the latest technologies might take us. In the end, if it shapes a lending decision, we’ll talk about how. You can join us every Thursday here, or wherever you prefer to find your podcasts.

You can find more at www.HowToLendMoneytoStrangers.show

Or follow my other projects at https://confirmu.com/, https://www.joinhumoni.com/, https://chaos-out-of-order.com/

Hosted on Acast. See acast.com/privacy for more information.

Copyright: © Copyright 2021 All rights reserved.

Latest Episodes:

Accelerating BNPL in Spain, with Jaime Marin Merlo (Fiizy) Nov 18, 2021

Show notes

Is this another BNPL episode? Of course, it is.

But what can I say, the world seems to have an unquenchable thirst for the model right now 😁

Plus, this one is a little different as I’m now speaking to a BNPL provider, but rather to Jaime Marín Merlo of Fiizy, an Estonian fintech that focuses on bringing lenders and merchants into that BNPL boom.

Jaime is the director of business development for Fiizy’s Spanish ambitions, but we touch on the LATAM market too. We talk about the limits of the Spanish data environment; we talk about the new customer niches BNPL is opening up; and we talk about the win-win-win situation that can arise for lenders, consumers, and merchants alike when the model is well-implemented; but we also talk about what can go wrong if it isn't.

You can learn more about Fiizy at their website

You can contact Jaime via his LinkedIn page or by emailing him at jaime.marin.merlo@fiizy.com

You can find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

Fraud and identity trends, with John Cannon (Oakford Consulting) Nov 11, 2021

Show notes

My very first job was building models to catch credit card fraud, at that time we were most concerned with counterfeited cards, then lost/ stolen cards, and in third place at best came identity fraud. It was an emerging threat, and we were hearing word of the likes of Hunter being rolled out in the bigger markets, but we were able to keep a pretty good handle on it with a system my boss had cobbled together in an Access database.

Then online channels started to emerge, but they were so insignificant early on that we could throw countless extra checks at those, not worrying if - and indeed hoping that - applicants would get fed up and apply via traditional channels instead. And that was only twenty years ago. Today, though, the fraud landscape is very, very different. Chip and PIN has got a grip on counterfeit fraud, and identity fraud has become far more complicated.

“And I've said this many, many times: when you really sit down and think about it, identity in the digital world... it is broken in many ways”

In this episode of HTLMTS I speak to John Cannon of Oakford Consulting about the changes that have occurred in fraud prevention over the last few decades, and about what it takes to defend an organisation against fraud today.

You can contact John Cannon via his LinkedIn page or by emailing him at john.cannon@oakfordconsulting.co.uk

You can find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

Resilient Canadian consumers are looking forward to growth, with Matt Fabian (TransUnion) Nov 04, 2021

Show notes

In this week’s episode of HTLMTS, I speak to Matt Fabian, TransUnion Canada's Director for Research and Consulting. Matt spoke to me about the credit resilience he’s seen displayed during the COVID-19 pandemic and the early shoots of growth that have recently become visible.

And also about BNPL and whether these new lenders might nip in and gather that growth for themselves before the big players have time to react. Matt has over 20 years of experience in Canadian financial services and access to a treasure trove of data, so he’s perfectly placed to fill us all in.

You can find more of Matt's work at https://www.transunion.ca/business and more on the Pulse studies he mentioned at https://www.transunion.ca/consumer-pulse-study

You can hear more about lending to immigrants on episode 11 of this show

You can find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

Modern lending In India, with Praveen Sinha and Amit Pandey (Pincap) Oct 28, 2021

Show notes

Powered by a growing middle class and a more connected rural population, the Indian consumer credit economy is carrying a lot of momentum, as is the market for MSME loans. And where most fast-growing markets are small, this is obviously not the case with India, where 1.4 billion people and nearly 50 million SMEs live.

Add to that, a history of digitalisation and innovation and it’s market you really shouldn’t ignore. Albeit, until now, I largely have, barring a couple of years where I had a passing oversight of some loan portfolios there.

So, to get me up to speed, I speak to Praveen Sinha, serial entrepreneur and co-founder of PinCap, and Amit Pandey, CEO of PinCap.

We spoke broadly about fintech in India, about alternative data for consumer and MSME loans, and about super-charged growth segments.

You can also find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

Consumer credit in the Nordics, with Jakob Færgeman (Experian) Oct 21, 2021

Show notes

The Vikings are coming! The Vikings are coming!

For a long time, the Nordic financial services market was a geographically contained one, with just 25 million consumers spread across the four major Nordic nations, growth of even the best business models could be capped. But not anymore, with digital channels providing a route to the rest of the world, several Nordics fintechs are following in the wake of Klarna.

So to get a better handle on the local forces shaping the Nordic consumer credit landscape, I spoke to Jakob Faergeman of Experian. We spoke about BNPL, Open Banking, and fintech in general; we spoke about the impact of COVID-19, and we spoke about regulation.

You can also find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

A Hong Kong market update with Dr Francis Lau Oct 14, 2021

Show notes

Hong Kong is a small market, smaller still in the shadow of the Chinese Mainland market which we explored in episode 4 of How to Lend Money to Strangers. That said, its high concentration of low-risk/ high-income consumers make it a useful training ground for lenders looking to target prime and better customers.

In this thirteenth episode 13 of HTLMTS I speak to Dr Francis Lau about the strength of the residential housing market post-COVID, about the emergence of virtual banks, and the growing line of competitors for credit card issuers.

The KPMG report on Hong Kong banking which Francis referenced can be downloaded here, while the HKMA’s mortgage numbers can be found here and their payment card numbers can be found here.

You can also find out more about me on my LinkedIn page, here

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

The exponential growth of digital banking in Ghana, with Felix Duku (Duku Consulting) Oct 07, 2021

Show notes

Poor infrastructure was an insurmountable hurdle for the traditional banking model in many developing markets. Branches were too expensive to install and then often too hard to reach for many. The first waves of digital banking helped to alleviate some of this pain, but only for the lucky few who had access to a stable internet supply - so typically the wealthier folk in the bigger cities.

And then came cell phones. Not smartphones, hardy Nokia’s that could take a beating and last a week on a single charge. Safaricom and M-Pesa were probably the biggest name in this game, using SMS technology to provide basic banking on the cheap, initially in East Africa but then through large parts of the continent.

This was a godsend, but the global applicability was limited since much of the value came in its ability to work around bad infrastructure. In the developed world, where this was not a problem, consumers were looking for a customer experience that could not be delivered by SMS.

That’s what makes the latest wave of African fintech much more interesting, built as they are on smartphone apps that cater to digital consumers just as discerning as those in the rest of the world. So, by leapfrogging internet banking, African digital banking is now a hotbed of mobile banking innovation.

To put this fast-tracked growth in context, I speak to Felix Duku, one of the drivers of digital banking in Ghana over the last thirty years. Using his own career as a backdrop, we talk about the stable goal of delivering a great customer experience and how he looked to deliver this through consecutive waves of technological innovation.

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show

Hosted on Acast. See acast.com/privacy for more information.

Making credit histories globally portable, with Misha Esipov (Nova Credit) Sep 30, 2021

Show notes

I’ve been an international immigrant three times now – into Denmark, into Hong Kong, and into the UK. In each case there was the expected pile of government paperwork to get there, but also then an equally tiresome series of hoops to jump through before you’re considered a full part of the credit economy.

Want a phone contract? What’s your credit history?

Want a lease? What’s your credit history?

Want a credit card? What’s your credit history?

The fortunate immigrants might find themselves having to stump up a year’s expenses upfront, the less fortunate will be borrowing from very expensive informal sources. Until Nova Credit stepped in.

In today’s episode of How to Lend Money to Strangers I speak to Misha Esipov about making credit histories globally portable, and the data that shows international scores to be predictive of credit performance in the United States.

Find out more about Misha and Nova Credit

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found at https://www.howtolendmoneytostrangers.show/episodes/episode-11

Hosted on Acast. See acast.com/privacy for more information.

Instant gratification with Michele Tucci, André Marques, and Anit Antony Sep 23, 2021

Show notes

Last week I had the pleasure of hosting a panel discussion at a virtual event hosted by some of my friends and ex-colleagues at TransUnion in the Philippines. The theme of the day’s talk was on how lenders can meet the ever-growing demand consumers have for instant gratification, and since that include talk of BNPL and alternative data scores among other topics that have been popular here, I decided to record and edit it into an episode.

“So imagine I'm on a shopping site, I've added stuff to my cart, then I get a message that says if you have a certain card you'll get 10% cashback. But I don't have that card. I'd like to get that 10% cashback, after all, I've made a substantial purchase, right? But then it flashes at you and it says, ‘apply now’. So I click on that, go through the credit approval process in a few minutes, get back the card number, the CVV number, expiry date, and use that to complete the transaction get that 10% cashback. That’s instant gratification. And if I'm going for lunch today, can I get that card approved, the plastic embossed, and in my hand before I call my friends and take them out for lunch. That’s instant gratification”.

I was joined by Michele Tucci of CredoLab, Andre Marques of Provenir, and Anit Antony from TransUnion

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show

A full written transcript with timestamps can be found at https://www.howtolendmoneytostrangers.show/episodes/episode-10

Hosted on Acast. See acast.com/privacy for more information.

Lending money to friends and family, with Craig Smith (JustLend) Sep 16, 2021

Show notes

I named this podcast How to Lend Money to Strangers because for the last twenty years that’s exactly what I’ve been trying to do. And although I’ve taken on projects across the credit lifecycle and on three continents, the underlying goal has almost always been to find enough data to turn strangers into customers we can know.

But Craig Smith has deftly flipped this on its head.

With JustLend, he is seeking not to understand strangers better but to lend better to those we already know. He’s reinventing the bank of mum and dad. And it’s easy to see the appeal in that, after all, property ownership remains a key tool for wealth generation but few young buyers have parents who can afford to help all on their own.

In this episode, we talk about lending to connections, the pros and cons, and the steps they’ve taken to optimise the experience.

You can learn more about JustLend at their website, or on Twitter or Instagram

If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me by email at brendan@howtolendmoneytostrangers.show

Hosted on Acast. See acast.com/privacy for more information.

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