Dramatic Turn Around
Turned around a personal loan business after major bank had 3 failed attempts.
Created a viable business model and implemented major changes. Changed the value proposition, developed new
marketing approach, identified a new target market, instituted a new pricing structure, re-engineered the process,
and provided a completely different consumer experience.
Exceptional results achieved include:
- Increased Net income from $21 million to $30 million in first year
- Net Income exceeded $100 million 2 years later
- New business model improved all major metrics significantly, including charge offs, marketing acquisition,
retention, and unit costs