Financial institutions are LenddoEFL's clients. Five of LenddoEFL's clients are Mynt, Orient Commercial Joint Stock Bank, Business Partners, Caja Sullana, and Ctos.
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:
We found information about LenddoEFL's clients by looking through articles published about the company in sources such as Banking Tech and on the company's YouTube channel. At the outset of our research, we noted that Lenddo and EFL merged on October 18, 2017. Accordingly, our findings about client opinions pertain to after that merger transpired. The only information we could find about whether clients are satisfied with LenddoEFL was from the four of the clients that we identified (all but Ctos). We included all of the information about client satisfaction that we found throughout our research about the company. With regard to client reviews, two of the reviews are videos from clients (Mynt and Business Partners) talking about the company. That review information is included in section one above. The other reviews were part of articles about LenddoEFL and its clients (Caja Sullana and Orient Commercial Joint Stock Bank). The reviews from those companies, as well as from Mynt and Business Partners, overlapped with the requested information regarding what clients like about LenddoEFL's products/services. As such, that information regarding what clients like about the company is included in section two above, though it applies to the client satisfaction part of section one too.
One data point for which information was not available was client dislikes about LenddoEFL. We looked for that information in three ways. First, we reviewed articles about the company, as we thought such information might be included therein. Some of the sources we reviewed for that were Business Insider and Fast Company, but no such information about dislikes was provided. Second, we checked the company's social media to see if we could find any client dislikes through that method. However, the only reviews we found there were from the people who received loans from lenders that are clients of LenddoEFL, so they are not clients of LenddoEFL. As a third strategy, we watched all of the relevant YouTube videos featuring clients of LenddoEFL to see if any mention was made about anything even remotely connected to a dislike about the company. However, all of the discussion about the company was positive. We included the full extent of information we found about what clients like about LenddoEFL's products/services above, which we found from the articles and YouTube videos previously referenced, among other sources. Together, this research process provided us with all the available, requested information about LenddoEFL.