Most recently at LendingClub, I partnered with the Strategy team to evaluate the readiness of our technology platform as the company prepared itself to expand its product offerings and obtain a bank charter. We found that there was a lack of consistency in the way the company was capturing, storing, and managing customers’ personally identifiable information, and there was no system of record for authentication credentials or customer PII. The company would not be successful in obtaining a bank accreditation if these table stakes were not in place. Luckily, I identified two scrum teams within the tech platform organization that managed some key components and services we would need to solve this problem.

I pulled the teams together to create one larger team, and together we launched the One Lending Club Experience program, also known as One LC.

The One LC program stitched together a set of core technology platform services that enabled other business and product teams to provide well-informed, meaningful, and personalized solutions for LC members. One LC furnished teams across the company with customer identity data, account data, financial data, and login information, and provide one single consistent LC member snapshot- a "One LC view".

Goal

Enable the company and its business teams to successfully launch new product offerings and attain a bank charter by ensuring that key data are properly captured, stored, extractable per legal and compliance mandates.

Establish a centrally located system of record as well as an authentication service to better store, manage, and secure customer identity and account data throughout all stages of the member lifecycle.

Outcomes

Program improvements resulted in 40% decrease in customer data errors + $1.5-$2M in additional weekly loan issuance.

Launched end-to-end consumer-facing Multi-factor Authentication (MFA) program required by SEC for LC’s bank charter; provided customers with a safer account experience and reduced account security threats by 98%.