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Crowdanalytix Contest: Predicting loan group category for peer-2-peer lending
Description:
The peer to peer (p2p) lending industry has grown considerably since 2009. On average Prosper + Lending Club (two biggest players in p2p lending) funded 84.4 Million USD in loans in August 2012 alone. And is now starting to attract lot of professional lenders and big institutions. Prosper is second largest player in p2p lending, where it connects people who want to invest money to people who want to borrow money. A total of 384 Million USD has been funded till date. The loans can range from a min. of 2,000 USD to 25,000 USD based on credit/prosper score of the user and its history on www.prosper.com.
Lenders can bid as low as 25 USD.
The interesting aspect is - being part of group (collection of members who share a common interest or affiliation), which is managed by a user with good rapport within the system or having friends who's loans have been successful, can improve one's chances of getting a loan. This also helps prosper in evaluating the risk associated with a Loan listing and provide better scoring to members and lenders. The objective of this contest is to Predict the group categories of successful listings into loans and analyzing features & social grouping which makes a loan successful.
For more information and to participate, visit
www.crowdanalytix.com/contests/modeling-predicting-loan-group-category-for-peer-2peer-lending/