FINDINGS

1. clients, reach, & client satisfaction

• According to LenddoEFL, its "clients are financial institutions — Banks, insurance companies and other lending/commerce platforms — who want to serve underbanked consumers and small businesses."
• LenddoEFL has more than 50 total clients that span over 20 emerging markets.
• Five of LenddoEFL's clients are Mynt, Orient Commercial Joint Stock Bank, Business Partners, Caja Sullana, and Ctos.
• From the limited, available information available to us, it appears that clients are satisfied with LenddoEFL. As an example, Business Partners stated that "[Lenddo]EFL has been a good investment for us." Caja Sullana has described the assessment offered by LenddoEFL as "powerful."

2. reviews & what clients like about LenddoEFL

•  This link is to a video that includes a review of LenddoEFL by its client, Mynt.
•  This link is to a video that includes a review of LenddoEFL by its client, Business Partners.
• Clients like the results that LenddoEFL's products/services have helped them achieve. One example is that bank clients have reduced the rate of default by 40% and have simultaneously increased the amount of loans provided. Another example is that "financial institutions using LenddoScore have, on average, increased their approval rates by 50% and decreased their default rates by 12%."
•  Mynt likes that LenddoEFL's products/services have enabled it "to assess credit risk for its clients that were 80% unbanked," are able to be customized to best serve a particular market, and provide competitive advantages through utilization of the strong analytics that it offers.
•  Orient Commercial Joint Stock Bank likes that LenddoEFL's products/services have demonstrated proven performance worldwide, are able to help it grow yet not increase its level of risk, improve the client experience with regard to onboarding, and reduce turnaround times.
•  Business Partners likes that LenddoEFL's products/services identify potential problems that might result if a loan is issued to a particular borrower, identify entrepreneurs that are excellent candidates to issue a loan to, work with a quick process, generate fast results, and feature a simple test.
•  Caja Sullana likes that LenddoEFL's products/services streamline the process for loan applications, decrease the amount of work that is required of its loan officers, and provide insightful data about applicants who otherwise have limited information available to provide for seeking a loan.

YOUR RESEARCH TEAM APPLIED THE FOLLOWING STRATEGY:

findings

1. clients

• Elevate's clients are consumers in the UK and US who are non-prime clients, whom the company also refers to as "the new middle class."
• The company defines "the new middle class" as those who are constrained with credit, their credit scores are under 700, and they either have no savings or minimal savings.
• Elevate believes that the U.S. has about 160 million people in "the new middle class."
• As of May 2018, the total number of non-prime clients that Elevate had served surpassed two million.
• Elevate has stated that the number of people in its target market across both the UK and US is 170 million.
• Five examples of Elevate's clients are Juan P. and Dennis R. (for its RISE product), Amy D. and Jennifer O. (for its Elastic product), and JR (for its Sunny product).

2. client satisfaction

• Information about Elevate's client satisfaction was segmented among the company's different products (as clients turn to Elevate for different such products), which are RISE, Elastic, Today Card, and Sunny.
• First, with regard to RISE, clients overall appear to be mostly satisfied, as is demonstrated by its nearly 4-star rating on the Better Business Bureau.
• A 4-star review of RISE from Juan P. states: "Needed fast cash, got it the next day after approval. Higher interest but affordable for me. Took less than 10 to fill out. I will use again if I need to after I pay them."
• Second, with regard to Elastic, clients overall appear mainly dissatisfied, as is demonstrated by its 1.5-star rating on the Better Business Bureau.
• A one-star review of Elastic from Amy D. states: "Be very careful and read ALL THE FINE PRINT. THEY will advertise high amounts of available cash but do not easily disclose the minimum $75 "fee" to make your payment, every 2 weeks. That's $150 a month just to pay your bill. It will take you over 2 years to pay back $2000 borrowed, and pay 3000 in fees, that totals 5000 borrowed!!! Beware!!"
• Third, with regard to Sunny, clients appear very satisfied overall, as is demonstrated by its 9.1/10 rating on Trustpilot based on 4,812 client reviews.
• A five-star review of Sunny from JR states: "Straightforward, easy, quick! Clear and structured payments and you can choose how much and long for. Perfect for my needs. Will use again and highly recommend!! 5*."

3. client likes/dislikes about elevate's products/services

•  What clients like about Elevate's RISE product/service are the simplicity of its loan application process and the quick turnaround time for issuing loan funds.
•  What clients dislike about Elevate's RISE product/service are its high interest rates and what is described as poor customer service.
•  Clients didn't mention anything they like about Elevate's Elastic product/service on the Better Business Bureau's review page for the company.
•  What clients dislike about Elevate's Elastic product/service are its outdated/inefficient processes, website complications, pricey fees, and what's described as poor customer service.
•  What clients like about Elevate's Sunny product/service are its simple application, efficiency, quick processing/turnaround times, and easy-to-navigate website.
•  What clients dislike about Elevate's Sunny product/service are what's described as poor customer service/communications and also reported delays with customer service when trying to resolve issues.

YOUR RESEARCH TEAM APPLIED THE FOLLOWING STRATEGY: