Michael Hoare Email Address

Head of Risk Analytics and Retail Credit

Launched in October 2010, RateSetter is a leading peer-to-peer finance site, an online marketplace where prime consumer borrowers are matched up with savers looking for a better deal. It has secured 3m in equity backing from private angel investors. RateSetter has matched over 17m in prime consumer loans, and has attracted close to 100,000 registered members. Using sophisticated technology to match savers and borrowers, RateSetter aims to provide a lower cost alternative to traditional savings and loans. RateSetter's loan rates are now amongst the cheapest in the UK. The website receives around 1m of borrower demand every day. It has a strict credit process, approving just 10-15% of applications. RateSetter has introduced a unique Provision Fund which shields the savers from bad debt and has meant every saver has received every penny. RateSetter is a founding member of the Peer-to-Peer Finance Association, a trade body set up in conjunction with Zopa and Funding Circle. Borrowers will be able to borrow from any loan term between 6 months and 5 years.

I am a senior leader with more than ten years’ experience in credit risk, business analytics and portfolio management roles within UK financial services, particularly consumer lending, credit cards, personal loans and point of sale finance. Motivated by developing great ideas, putting them into action and with working with smart people. Specialities: credit risk management, credit loss forecasting, financial modelling, business and portfolio analytics, stress testing, subprime lending, customer profitability modelling, relationship management and people management.