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Joseph DeCosmo
Chief Analytics Officer
Do or die – Putting analytics at the heart of everything you do
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Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
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We are a growing global online lender operating eleven brands in six countries around the world • Founded and HQ’d in Chicago since 2004
• 1,100+ employees – 500 corporate employees
• Scalable and flexible technology platform
• Proprietary analytics and data
• Publicly traded on NYSE (ENVA) since Nov. 13th, 2014
Over $15 billion in credit extended to 4MM+ customers around the world
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Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
1. Apply 2. Underwrite
Easy-to-complete
Identity, employment, income, payroll date, bank
account information
Multi-Stage Screening
Verifies identity and prevents fraud
Decisioning
In 3 to 6 seconds, analytics system pulls data and determines
creditworthiness
Advanced Analytics
Massive parallel processing of 100 algorithms, 1,000
variables, 11 years and 10.5 TB of customer
behavior data
3. Accept & Fund 4. Service
Accept
Agreements reviewed and digitally signed online
Funding
ACH funding by next business day in U.S.;
within 10 minutes to debit card in U.K.
Multi-Channel
Service U.S.-based in-house
service center for assistance and payment
Proprietary Systems Tailored CRM system
integrated with analytics engine and marketing
channels
Advanced analytics is at the center of our customer experience
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Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
• Centralized org
• 51 employees, six teams - 24 new hires in the last 12 months, 8 interns
• Mix of college hires and experienced analysts; Mix of expertise / disciplines
Our Analytics Team …
CEO
CAO
Data Services BI Portfolio Analytics
Fraud Marketing Analytics
Research and Platforms
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Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
Our Values
Listen to customers’ needs
Provide options for
hardworking customers
Deliver beyond customer
expectations
Customer First
Challenge assumptions,
add unique perspectives
and create the best
solution
Foster innovation
Loudness and rank lose
Best Answer
Wins
Think big and move fast
Roll up your sleeves
Use resources like they’re
your own
Set high expectation and
make it happen
Always add value
Use data to drive results
Hire and develop the best
Work in small, focused
teams
Encourage diversity of
thought
Operate as an
Owner
Accountable for
Results
Top Talent and
Teamwork
We’re all analysts at Enova!
Analytics in Action
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R: 4 G: 54 B: 102
R: 185 G: 226 B: 246
R: 0 G: 54 B: 103
Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
How we deliver real-time analytics at scale
7
Decisioning in 3 to 6 seconds, analytics
system pulls data and determines credit worthiness
Advanced Analytics massive parallel processing of 100
algorithms, 1,000 variables, 10 years and over 9 TB of data
Loan Offer
Our team and infrastructure solves a wide variety of business problems as we grow our brands around the world
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Boxes / Text / Outline
R: 1 G: 167 B: 229
R: 103 G: 103 B: 103
R:237 G: 237 B: 237
R: 79 G: 129 B: 189
R: 59 G: 59 B: 59
R: 4 G: 54 B: 102
R: 185 G: 226 B: 246
R: 0 G: 54 B: 103
Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
Faster page load times
50% reduction in page load times
(approx 1 second) generated a
2.25% conversion rate increase
and $1.5MM+ in incremental
annual revenue with one product alone
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Boxes / Text / Outline
R: 1 G: 167 B: 229
R: 103 G: 103 B: 103
R:237 G: 237 B: 237
R: 79 G: 129 B: 189
R: 59 G: 59 B: 59
R: 4 G: 54 B: 102
R: 185 G: 226 B: 246
R: 0 G: 54 B: 103
Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
Improved products and offers Customer-approved access to electronic banking data in real-time allows us to improve our offers during the application process …
Initial Underwriting
• Initial credit risk score
• Approve/Deny
• Base offer
Transactional Data
• Customer approved bank account access
• Deep data parsing
• Text Analysis / New variables
Improved Offer
• Improved loan amount, APR, term
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R: 108 G: 207 B: 246
R: 20 G: 93 B: 154 (Text)
R: 176 G: 209 B: 54
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(Alternate) Line Charts
Boxes / Text / Outline
R: 1 G: 167 B: 229
R: 103 G: 103 B: 103
R:237 G: 237 B: 237
R: 79 G: 129 B: 189
R: 59 G: 59 B: 59
R: 4 G: 54 B: 102
R: 185 G: 226 B: 246
R: 0 G: 54 B: 103
Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
Reduced customer friction Creative use of social, business and geo data in real-time can eliminate manual verification tasks for both the company and customer
“Social Proof” Models
• Facebook, Twitter, LinkedIn, Yelp (for business)
• ID Verification score
Employment / Business Validation
• LinkedIn, Yelp, Google Places
• Verification scores for employee and employer
Eliminating manual, offline verification can lead to
5 to 10%+ improvement in conversion rates
R: 0 G: 82 B: 136
R: 108 G: 207 B: 246
R: 20 G: 93 B: 154 (Text)
R: 176 G: 209 B: 54
Bar Charts
(Alternate) Line Charts
Boxes / Text / Outline
R: 1 G: 167 B: 229
R: 103 G: 103 B: 103
R:237 G: 237 B: 237
R: 79 G: 129 B: 189
R: 59 G: 59 B: 59
R: 4 G: 54 B: 102
R: 185 G: 226 B: 246
R: 0 G: 54 B: 103
Confidential
Font: Calibri Section Title: 36 pt Slide Title: 28 pt Body Text: 14-16 pt Charts: Once you insert your chart or create a table you will be able to go into the “design” tab and use any of the defaulted color arrangements Graphs: Same as charts
Stalled or abandoned applications create opportunities for targeted customer intervention.
Targeted customer service
Targeted Follow-up
Hi self-convert = Monitor Med = rep call Low = Ignore
Application Intercept and Model Scoring
Likelihood of “self conversion”
Incomplete Application
Stalled in-session Abandoned session
Reduced call volume, increased sales, and
happier customers
Lessons Learned (some the hard way!)
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1. Deeply understand the customer experience …
and the data it leaves behind
2. Invest in analytics infrastructure and accessibility …
build or buy
3. Memorialize your work …
KPI’s, data, programs, processes
4. Truly embrace a test and learn culture …
there are no failures, just results
5. Think big, start small …
and priotize by ROI
6. Reward business impact …
not plans or ideas
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Enova Decisions:
https://www.enovadecisions.com/
Up Next:
CAO Forum Europe
March 8-10, 2016
Joe DeCosmo
Chief Analytics Officer
175 West Jackson Blvd.
Chicago, IL 60606
Tel 312.800.4390
