LenDenClub (LDC) was a primarily online platform operated by Innofin Solutions Pvt. Ltd. in the peer-to-peer lending industry in India. To offer differentiated products in a growing segment, LDC decided to focus on the untapped segment of low-salary earners. However, it was risky to serve this segment; borrowers had little credit history but often required loans immediately for emergency expenditures, and these borrowers had limited repayment capacity, so it was challenging for LDC to remain profitable. LDC responded by developing a new product based specifically on the targeted segment’s needs that allowed LDC to give small loans to more borrowers while achieving the lowest default rates. In June 2020, with preliminary testing done, LDC needed to refine InstaMoney’s features to achieve the best version of the product and obtain the best performance of InstaMoney in terms of conversions and the lowest default rates.
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