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Produktbild: Marketplace Lending, Financial Analysis, and the Future of Credit

Marketplace Lending, Financial Analysis, and the Future of Credit Integration, Profitability, and Risk Management

Aus der Reihe Wiley Finance Series

111,99 €

inkl. MwSt, Versandkostenfrei

Beschreibung

Details

Einband

Gebundene Ausgabe

Erscheinungsdatum

16.02.2016

Verlag

John Wiley & Sons Inc

Seitenzahl

344

Maße (L/B/H)

24,6/17,3/2,8 cm

Gewicht

754 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-119-09916-1

Beschreibung

Details

Einband

Gebundene Ausgabe

Erscheinungsdatum

16.02.2016

Verlag

John Wiley & Sons Inc

Seitenzahl

344

Maße (L/B/H)

24,6/17,3/2,8 cm

Gewicht

754 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-119-09916-1

Herstelleradresse

Produktsicherheitsverantwortliche/r
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

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  • Produktbild: Marketplace Lending, Financial Analysis, and the Future of Credit

  • Preface xvii

    Acknowledgments xix

    About the Authors xxi

    About the Website xxiii

    Introduction 1

    I.1 Who is this Book For? 2

    I.2 What is Fintech? 2

    I.2.1 Distinction between Financial Technology Innovation and Financial Innovation 3

    I.3 Why Does this Book Focus on Online Lending? 4

    I.4 The Hybrid Financial Sector: The Opportunity to Build a Healthier Financial System 5

    PART ONE Fintech and Online Lending Landscape-Where Are We Now? 11

    CHAPTER 1 Introduction to the Business Models in Financial Technology 15

    1.1 Innovation Themes in Fintech 15

    1.2 The Promises and Pitfalls of Fintech Business Models 20

    1.3 The Pitfalls 22

    1.4 Why is Financial Technology Innovation Important? 23

    1.5 Challenges and Roadblocks for Fintech Companies 24

    1.6 Fintech is a Long-Term Play 26

    1.7 Concluding Remarks 27

    CHAPTER 2 How Does Online Lending Work? An Overview with a Focus on Marketplace Lending 29

    2.1 Reliance on Technology and Data 29

    2.2 How Do Online Lenders Differ From Banks? 30

    2.3 Types of Online Lenders 31

    2.4 Some Background on Peer-to-Peer Networks 36

    2.5 The Business Model of Marketplace Lending Platforms 40

    2.6 Onboarding Process 41

    2.7 Comparing Marketplace Loans with Bank Credit or Credit Card Debt 44

    2.8 Who are the Alternative Borrowers? 47

    2.9 Who Are Investors in Marketplace Loans? 48

    2.10 Underwriting and Credit Scoring 48

    2.11 Regulation 49

    2.12 The Response of Banks to Online Lending 51

    2.13 Concluding Remarks 52

    CHAPTER 3 What Made the Rise of Online Lending Possible? 57

    3.1 Technological Factors 57

    3.2 Social Factors 62

    3.3 Structural Factors 63

    3.4 The Perfect Storm 65

    3.5 A Divergence of Trends 66

    3.6 Concluding Remarks 67

    CHAPTER 4 Why Fintech Lives Outside of Banks 69

    4.1 The Technology Mudslide Hypothesis: Sustaining Innovation vs. Disruptive Innovation 70

    4.2 Will Banks Notice the Next Fintech Breakthrough? 73

    4.3 Why Do Banks Have Difficulty in Innovating? 76

    4.4 Developing Core Competence in Financial Technology Innovation 79

    4.5 Concluding Remarks 81

    PART TWO The Status Quo of Analytics in the Financial Industry-The Perspective of Banks 83

    P2.1 Banking is Innovation 84

    P2.2 Banking Goes Mobile 84

    P2.3 Banks Are Far From Dead 85

    P2.4 How to Read This Part of the Book 85

    P2.5 What We Discuss in This Part 86

    CHAPTER 5 Financial Contracts 89

    5.1 Contract Elements 89

    5.2 Time in Financial Contracts 90

    5.3 Contract Mechanisms Producing Financial Events 92

    5.4 Concluding Remarks 106

    CHAPTER 6 Markets 107

    6.1 Real-world and Risk-neutral Expectations of Markets 108

    6.2 Economic Scenarios Based on Real-world Probabilities 109

    6.3 The Risk-neutral Expectations 110

    6.4 Beyond Market Risk-Free Rates 113

    6.5 Discounting Cash Flows 116

    6.6 Considering Market Elements in P2P Finance 117

    6.7 Concluding Remarks 118

    CHAPTER 7 Counterparties 121

    7.1 Types and Roles of Counterparties 121

    7.2 Descriptive Characteristics 123

    7.3 Default Probability 124

    7.4 Credit Ratings 129

    7.5 Credit Spreads Based on Real-world Probabilities 130

    7.6 Link of Counterparties via Markets 131

    7.7 Concluding Remarks 137

    CHAPTER 8 Behavior Risk 139

    8.1 Prepayments 140

    8.2 Draw-downs/Remaining Principle/Facilities and Credit Lines 141

    8.3 Withdrawals 143

    8.4 Selling 143

    8.5 Default and Downgrading 144

    8.6 Use at Default 145

    8.7 Recoveries 146

    8.8 Concluding Remarks 147

    CHAPTER 9 Credit Exposures 151

    9.1 Gross Exposure 151

    9.2 Net Exposure 152

    9.3 Evolution of the Gross and Net Exposures 152

    9.4 Exposure Distribution 155

    9.5 Credit Losses 156

    9.6 Link of Counterparties via Credit Exposures 157

    9.7 Concluding Remarks 158

    CHAPTER 10 Credit Enhancements 161

    10.1 What are Credit Enhancements? Types and Structure 162

    10.2 Asset-based Credit Enhancements 162

    10.3 Counterparty-based Credit Enhancements 165

    10.4 Additional Elements Considered in Credit Enhancements 168

    10.5 Extending Credit Enhancements in Marketplace Lending 170

    10.6 Concluding Remarks 175

    CHAPTER 11 Systemic and Concentration Risks 177

    11.1 Credit Exposure Systemic Risk 177

    11.2 Counterparty Systemic Risk 180

    11.3 Systemic Risk Exposures and Losses 183

    11.4 Credit Exposure Concentration Risk 184

    11.5 Counterparty Concentration Risk 185

    11.6 Systemic Risk and Portfolio Diversification 187

    11.7 Concluding Remarks 187

    CHAPTER 12 Liquidity, Value, Income, Risk and New Production 189

    12.1 Liquidity 190

    12.2 Value and Income 197

    12.3 New Production 203

    12.4 Treasury and Funds Transfer Pricing (FTP) 205

    PART THREE Toward the Future of the Hybrid Financial Sector 215

    P3.1 Dangers of a Big Bang Approach to Catch up with Technology Innovation 216

    P3.2 The Need to Collaborate in a Hybrid Financial System 217

    CHAPTER 13 Profitability and Risk of Marketplace Loans 219

    13.1 Underlying Assumptions of the Analysis 220

    13.2 Risk Factors 222

    13.3 Portfolio Construction 224

    13.4 Modeling Portfolio Performance 226

    13.5 Risk Management 236

    13.6 The Road Forward 246

    13.7 Concluding Remarks 247

    CHAPTER 14 Digital Competencies and Digital Dilemmas 251

    14.1 Digital Competencies 252

    14.2 Digital Dilemmas 255

    14.3 Concluding Remarks 260

    CHAPTER 15 Digital Strategy 263

    15.1 Who Needs Digital Strategy? 263

    15.2 Frameworks to Analyze the Impact of Innovation 264

    15.3 Spotting Signs of Trouble on the Horizon 267

    15.4 How Banks Can Overcome the Innovator's Dilemma 269

    15.5 From Producer to Supplier and Moving to a New Singularity 271

    15.6 From Closed Innovation to Open Services Innovation 272

    15.7 The Role of Leadership in Driving Emergent Strategy 273

    15.8 Concluding Remarks 274

    CHAPTER 16 The Hybrid Financial Sector 277

    16.1 Forces of Competition in the Digital Age 277

    16.2 The Dangers of Knife Fights 279

    16.3 Good Ideas in Marketplace Lending That Might Be Here to Stay 280

    16.4 The Alternative to the Hybrid Financial Sector: A Doomsday Scenario for Established Banks? 286

    16.5 Concluding Remarks 286

    CHAPTER 17 Unified Analytics 289

    17.1 Why Do Marketplace Lending Platforms Need Unified Financial Analytics? 290

    17.2 An Overview of a Unified Analytics Platform 296

    17.3 Concluding Remarks 301

    Bibliography 303