On Thursday, reporting and analytics platform dv01 announced it is collaborating with Experian to bring transparency to marketplace lending. The companies stated that the collaboration would provide dv01 clients with access to richer borrower credit attributes while they conduct performance analysis using dv01’s online tools. Perry Rahbar, founder and CEO of dv01, stated:
“We’re excited to partner with Experian to bring additional data transparency and actionable intelligence to the marketplace lending ecosystem. dv01 already has a robust set of tools for reporting and analysis, and this new influx of data will allow clients to better understand loan performance by enabling our tools to operate at their maximum potential. The more institutional investors know, the better their decision-making.”
dv01 noted it is in the process of mapping millions of borrower attributes from Experian’s database to installment loans in client portfolios. dv01 is also acting as a data warehouse for select data sets that Experian offers investors for modeling purposes. Alex Lintner, president of Consumer Information Services, Experian, noted:
“Experian’s powerful credit data combined with dv01’s performance data on marketplace loans and portfolios allows institutional investors to surgically analyze risk and value based on borrowers’ credit performance. Borrower data allows investors to evaluate and analyze future performance in a way not previously possible, and this leads to smarter, more profitable decisions.”
dv01 added it has aggregated performance data for more than $40 billion of loans from marketplace lenders including SoFi, Lending Club, Prosper, Marlette Funding, Avant, and CommonBond. To date, it has secured $7.5 million of seed funding from Quantum Strategic Partners Ltd., Leucadia National Corporation, and Pivot Investment Partners.