We’re pleased to release an update to the Plenti^ loan book. The updated loan book contains information about every loan originated through Plenti (then known as RateSetter) since our launch in late 2014 until 31 December 2015, when we passed $20 million in loans funded.
We believe that transparency is the cornerstone of lending. Open data allows those investing in consumer loans and applying for personal loans to make informed decisions, ensuring lenders like Plenti are accountable for the quality of loans they facilitate.
We are delighted to show that our loan book continues to perform well, with not one of our 1,239 personal loan borrowers having defaulted as at 31 December 2015.
We are also delighted that our Provision Fund has continued to grow strongly, exceeding $1 million early in the New Year, helping to protect our lenders from borrower late payment or default.
^Plenti was known as RateSetter prior to August 2020.
Data in the loan book includes loan amounts, interest rates, loan purpose and anonymised information related to borrowers such as age, gender, state/territory of residency, employment status, income bracket and home ownership status.
This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of Plenti as at the date of publication and may later change without notice.