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Clarity

Yvan De Munck

New York, NY

Yvan De Munck is a strategic advisor to emerging growth companies, particularly active at the intersection of big data and credit risk. Currently heading up the US business for “James”, he helps companies and people develop strategies that nudge clients into behaviors that are socially desirable and financially rewarding.

With an earlier career on Wall Street and the last 5+ years focused on fintech related initiatives, he has created a particular interest in the credit union space, a group that has shown increased interest in applying cutting edge technology to solve all too common problems: how to increase origination volumes without taking on more risk; how to keep default rates under control as the cycle turns; how to optimize operational efficiency in the underwriting process – all this in a regulatory compliant way. Yvan brings with him a global perspective (originally from Europe, fluent in 4 languages) and is a FINRA Series 7, 24 & 63 license holder.

$5.00/min

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the Rapid Ascent of Peer-to-Peer and Online Direct Lending Models (...)

The Great Recession, increased regulation, regulatory backlash,and the decrease in consumer confidence in the banks have led to major disruptive developments in the way people and small businesses access credit, an important element to the growth of the U.S. economy. Given that more than 70% of U.S. GDP is related to consumption, access to credit is required for continued growth. As a result of the aforementioned events over the past five years, peer-to-peer and online direct lending have rapidly emerged as a solid alternative to mainstream banking and lending. It is poised for very strong growth and is likely to change the landscape fundamentally in a relatively short time. The banking sector continues to be one of the few remaining sectors where fundamental disruption can still occur as banks find themselves in a unique environment where government related institutions implement new changes, leaving banks paralyzed and unsure how to move forward. As these recent competitiveforces are unlikely to reverse (barring any legislative action) the banks and other intermediaries really only have three options:
join them, innovate, or die. Given that the latter is not an
option (though the banking sector has gone through a phase
of massive consolidation since the early eighties with less
than half the number of banks left), banks and credit card
companies are having difficulty determining how they will be
able to beat the continuing onslaught. Joining the party and
splitting the spoils to the benefit of all involved is the preferred,
if not the only, realistic option for most. The concept
of “collaborative consumption” is increasingly pervasive in
our culture and peer-to-peer and online direct lending, it can
be argued, is an expression of this new movement in which
trust is the “new currency.” To win that “currency” back, traditional financial services companies will have to think outside the box, to regain their place at the top. The issue is timely, urgent, and not going away any time soon.

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Member since May 2015