Consumer Lending Perspectives

Jeff Bogan
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Consumer Lending Perspectives

Are you ready to unlock the timely insights on consumer lending from industry leaders? Step into the world of cutting-edge financial innovation and balance sheet strategies with Consumer Lending Perspectives, the must-listen podcast for forward-thinking finance executives. In an era of rapid technological advancement and shifting consumer behaviors, staying ahead of the curve is essential. Join host Jeff Bogan, CFO at Upgrade and a fintech veteran, as he brings you episodes with C-Suite executives at the forefront of financial innovation. With over a decade of experience in investment banking and fintech, Jeff shares transformative insights into the most pressing issues facing financial leaders today. We discuss underwriting techniques, loan portfolio management, consumer behavior and macroeconomic adverse selection, advancements in AI and machine learning for credit decisioning, and how big data is transforming real-time strategy adjustments. Explore advanced risk management tactics, from fraud detection algorithms to portfolio diversification, and discover how leading institutions are reshaping financial inclusion. You'll also learn the latest digital marketing and personalization strategies that help financial institutions compete, as well as state-of-the-art digital fraud prevention technologies. Gain insights into managing liquidity in uncertain times and diversifying funding sources for optimized balance sheet management. Whether you're a seasoned financial leader or an ambitious professional, this podcast equips you with the knowledge to thrive in the evolving consumer finance landscape. Featuring top decision-makers from banks, credit unions, fintechs, capital markets, and regulators, each episode offers practical advice, lessons learned, and strategies for growth. Subscribe now to join a special community of financial visionaries and transform your approach to strategic planning, risk mitigation, loan portfolio growth, and income diversification. Discover innovative approaches to managing assets, anticipating market shifts, and expanding revenue streams. About the Host: As Upgrade’s CFO, Jeff is focused on building the finance, HR, and real estate functions to support the company’s growth. Prior to co-founding Upgrade, Jeff built and led the Investor Group at Lending Club, sourcing more than $15 billion in capital from retail, institutional, and financial institutions. His role also involved managing platform funding, balancing investors with borrowers to fund loan products. Before moving to the Bay Area, Jeff spent 8 years as an investment banker at Morgan Stanley, Greenhill, and SunTrust, where he provided M&A advice and raised capital, primarily for financial institutions. Jeff holds an MBA from Harvard Business School and a BBA from The University of Georgia. In his free time, he enjoys skiing with his family and watching college football.

Episodes

  1. Ep 3 Are We Seeing Recovery in Consumer Performance With Dr. Joseph Breeden

    25 NOV

    Ep 3 Are We Seeing Recovery in Consumer Performance With Dr. Joseph Breeden

    Host Jeff Bogan, CFO at Upgrade, talks with Dr. Joseph Breeden, a seasoned expert in credit risk management. They explore the post-pandemic lending landscape, discussing factors such as score inflation, macroeconomic adverse selection, and data imperfections affecting the lending industry.   “Consumers are not financially rational machines. And so it's very clear they key off changes in interest rates.” -  Dr. Joseph Breeden  Dr. Breeden shares how credit risk models, economic conditions, and consumer psychology interplay to influence loan performance and lending strategies in today's economy.     IN THIS EPISODE:  [00:45] Introduction to Dr. Joseph Breeden and his experience in risk management[01:07] Discussion on post-pandemic challenges and score inflation in consumer lending[03:27] Explanation of macroeconomic adverse selection and its impact on lending[06:35] Historical perspective on credit score dynamics across economic cycles[8:06]  The importance of intuition and borrower psychology in lending[10:15]  Tips on assessing loan demand and adjusting based on quality trends[14:10]  Dr. Breeden discusses issues with the current unemployment rate data[17:35]  Suggestions on what asset managers should monitor in the current economic environment [20:00] Discussion of Dr. Breeden's forthcoming book on credit risk modeling. [22:19] The Role of Data, Machine Learning, and Alternative Indicators [27:01] Dr. Breeden expresses optimism about the next 12 months for consumer assets       KEY TAKEAWAYS:  Changes in consumer behavior during economic downturns, also known as macroeconomic adverse selection, can lead to lower- quality loan applicants despite high credit scores. While credit models are essential, lender intuition and borrower psychology play critical roles in predicting loan performance. As adverse selection begins to moderate, the next 12 months may present better opportunities for quality loan origination.    ABOUT THE GUEST:  Dr. Breeden has been designing and deploying risk management systems for loan portfolios since 1996. His expertise includes scoring, forecasting, stress testing, and economic capital models. Since 2011, Dr. Breeden has been CEO of Prescient Models, where he leads a consulting and product development team in this space, focusing on loan-level models for forecasting, stress testing, and pricing.  Previously, Dr. Breeden co-founded Strategic Analytics in 1999, where he led the design of advanced analytic solutions including the invention of Dual-time Dynamics. He has created models through the 1995 Mexican Peso Crisis, the 1997 Asian Economic Crisis, the 2001 Global Recession, the 2003 Hong Kong SARS Recession, and the 2007-2009 US Mortgage Crisis and Global Financial Crisis. These crises have provided him with a rare perspective on crisis management and the analytics needs of executives for strategic decision-making.  Dr. Breeden has published over 40 academic articles, a dozen trade publications, and six patents. His book “Reinventing Retail Lending Analytics: Forecasting, Stress Testing, Capital, and Scoring for a World of Crises” was published by Riskbooks in 2010 and is currently in its second edition.  Dr. Breeden received separate BS degrees in mathematics and physics in 1987 from Indiana University. He earned a Ph.D. in physics in 1991 from the...

    30 min
  2. EP 2 What is the Secondary Market Signaling About the State of Financial Institutions?

    6 NOV

    EP 2 What is the Secondary Market Signaling About the State of Financial Institutions?

    Jeff Bogan welcomes John Toohig, Managing Director at Raymond James and Head of Whole Loan Trading Group. John shares his extensive knowledge on the impact of recent rate increases on banks and credit unions, particularly in the consumer loan space. They examine the performance and strategies of these financial institutions in 2022 and 2023, discussing liquidity trends, M&A activity, and the evolving role of fintech partnerships.  Additionally, they explore predictions for 2025, including tightening margins, student loan impacts, and the potential for a robust M&A environment. This episode is a must-listen for anyone involved in the financial services industry, providing valuable market insights and strategic advice. "FinTechs have a better tech mechanism to generate loan growth...the natural evolution will continue, and institutions that ignore it are doing so at their detriment, while those that embrace it stand to benefit.” - John Toohig IN THIS EPISODE: [01:00] Introduction to John Toohig and his expertise in loan trading[01:18] Impact of Rate Increases on Banks and Credit Unions[02:53] Market Reactions and Adjustments in 2023[05:51] Current Market Conditions and Predictions[10:57] Strategies for Banks and Credit Unions[16:00] Role of Fintech partnerships in modern banking[20:00] Smart strategies for building liquidity within banks[26:07] Fintech Partnerships and Future Outlook[32:00] Predictions for the depository space in 2025[34:09] Final words of wisdom from John Toohig on loan trading and partnerships   KEY TAKEAWAYS: John emphasizes that banks and credit unions should adapt to a high-interest environment by reevaluating loan strategies and adjusting pricing to stay competitive.Institutions should aim for “smart liquidity” by creating deposit programs linked to loan offerings, enabling lower-cost funding.For long-term success, depositories should collaborate with FinTechs to enhance tech-driven loan growth while retaining traditional customer relationships.John anticipates tighter margins but a positive outlook with stabilized rates, increased loan originations, and a boost in M&A activity in the depository sector. ABOUT THE GUEST:  John Toohig Head of Whole Loan Trading on the Raymond James Whole Loan Desk and President of Raymond James Mortgage Company. Primary responsibilities include day-to-day trading of whole loan packages, portfolio analysis, transaction management and the structuring of whole loan sales and participations. Beyond his daily trading responsibilities, John is a regular speaker and content creator for various lending-related conferences and publications. He has presented at most of the major lending conferences including MBA National Secondary, SFIG Vegas / ABS West, CUNA Lending and more, and his commentary has also been featured in publications such as the Wall Street Journal, Forbes, the American Banker, HousingWire and DebtWire. John has created an active following on LinkedIn with regular posts and articles surrounding community lending, providing both lenders and investors with timely commentary on current trends and happenings in the primary and secondary loan markets. In addition, he showcases new lending products, technology, and credit tools as the market constantly evolves. John received his undergraduate degree from the Houghton College and his MBA from the University of Mississippi with a focus in finance and IT. John has his Series 7, 24 and Series 63 licenses. RESOURCE...

    35 min
  3. EP 1 Introduction to the Consumer Lending Perspectives with Host Jeff Bogan

    6 NOV

    EP 1 Introduction to the Consumer Lending Perspectives with Host Jeff Bogan

    In this introductory episode of Consumer Lending Perspectives, host Jeff Bogan, CFO of Upgrade, shares his background in finance and the motivation behind launching the podcast. Jeff discusses his journey from advising financial institutions to leading fintech initiatives, with the goal of modernizing consumer finance.  "The finance industry is changing rapidly, and we wanted a platform where our audience could find in depth, up to date information to make strategic decisions for their businesses." - Jeff Bogan  This podcast promises insights from top industry leaders on current trends in consumer lending, liquidity, modern finance, risk management, underwriting, customer service, and more. IN THIS EPISODE: [00:28] Introduction to the Consumer Lending Perspectives podcast and its goals[00:45] Jeff’s career in financial advising and insights on industry challenges[01:13] The transition to fintech to enhance customer service and compliance[02:17] Discussion on major consumer lending trends expected for next year[02:46] Overview of future podcast topics like risk management and fraud prevention  KEY TAKEAWAYS: The Consumer Lending Perspectives podcast was created to deliver in-depth insights into evolving consumer finance trends.Host Jeff Bogan emphasizes the need for improved customer experience and efficient, compliant financial services.Upcoming episodes will feature discussions with financial experts on critical topics such as underwriting, liquidity, and customer acquisition. About the Host:  Jeff Bogan- As Upgrade’s CFO, Jeff is focused on building the finance, HR, and real estate functions to support the company’s growth. Prior to co-founding Upgrade, Jeff built and ran the Investor Group at Lending Club, sourcing more than $15 billion in capital from retail, institutional, and financial institutions. The role also entailed managing platform funding balance matching investors with borrowers to fund loan products. Before moving to the Bay Area, Jeff was an investment banker for 8 years at Morgan Stanley, Greenhill, and SunTrust, providing M&A advice and raising capital primarily for financial institutions. Jeff holds an MBA from Harvard Business School and a BBA from The University of Georgia. He enjoys skiing with his family and watching college football. RESOURCE LINKS  Website: https://www.upgrade.com/ LinkedIn: https://www.linkedin.com/in/jbogan5/ #ConsumerLendingPerspectives #ConsumerLending #JeffBogan #Fintech #FinancialInnovation #riskmanagement #digitalbanking #banks #lending #creditunions #credit union difference #loangrowth #liquiditymanagement #customeracquisition #strategicplanning #balancesheetoptimization #balancesheet #Liquidity #FinancialInstitutions

    4 min
  4. TRAILER: Consumer Lending Perspectives

    1 NOV

    TRAILER: Consumer Lending Perspectives

    Are you ready to unlock the timely insights on consumer lending from industry leaders? Step into the world of cutting-edge financial innovation and balance sheet strategies with Consumer Lending Perspectives, the must-listen podcast for forward-thinking finance executives. In an era of rapid technological advancement and shifting consumer behaviors, staying ahead of the curve is essential. Join host Jeff Bogan, CFO at Upgrade and a fintech veteran, as he brings you monthly episodes with C-Suite executives at the forefront of financial innovation. With over a decade of experience in investment banking and fintech, Jeff shares transformative insights into the most pressing issues facing financial leaders today. We discuss underwriting techniques, loan portfolio management, consumer behavior and macroeconomic adverse selection, advancements in AI and machine learning for credit decisioning, and how big data is transforming real-time strategy adjustments. Explore advanced risk management tactics, from fraud detection algorithms to portfolio diversification, and discover how leading institutions are reshaping financial inclusion. You'll also learn the latest digital marketing and personalization strategies that help financial institutions compete, as well as state-of-the-art digital fraud prevention technologies. Gain insights into managing liquidity in uncertain times and diversifying funding sources for optimized balance sheet management. Whether you're a seasoned financial leader or an ambitious professional, this podcast equips you with the knowledge to thrive in the evolving consumer finance landscape. Featuring top decision-makers from banks, credit unions, fintechs, capital markets, and regulators, each episode offers practical advice, lessons learned, and strategies for growth. Subscribe now to join a special community of financial visionaries and transform your approach to strategic planning, risk mitigation, loan portfolio growth, and income diversification. Discover innovative approaches to managing assets, anticipating market shifts, and expanding revenue streams. About the Host: As Upgrade’s CFO, Jeff is focused on building the finance, HR, and real estate functions to support the company’s growth. Prior to co-founding Upgrade, Jeff built and led the Investor Group at Lending Club, sourcing more than $15 billion in capital from retail, institutional, and financial institutions. His role also involved managing platform funding, balancing investors with borrowers to fund loan products. Before moving to the Bay Area, Jeff spent 8 years as an investment banker at Morgan Stanley, Greenhill, and SunTrust, where he provided M&A advice and raised capital, primarily for financial institutions. Jeff holds an MBA from Harvard Business School and a BBA from The University of Georgia. In his free time, he enjoys skiing with his family and watching college football. RESOURCE LINKS Website: https://www.upgrade.com/ LinkedIn: https://www.linkedin.com/in/jbogan5/

    4 min

Trailer

About

Are you ready to unlock the timely insights on consumer lending from industry leaders? Step into the world of cutting-edge financial innovation and balance sheet strategies with Consumer Lending Perspectives, the must-listen podcast for forward-thinking finance executives. In an era of rapid technological advancement and shifting consumer behaviors, staying ahead of the curve is essential. Join host Jeff Bogan, CFO at Upgrade and a fintech veteran, as he brings you episodes with C-Suite executives at the forefront of financial innovation. With over a decade of experience in investment banking and fintech, Jeff shares transformative insights into the most pressing issues facing financial leaders today. We discuss underwriting techniques, loan portfolio management, consumer behavior and macroeconomic adverse selection, advancements in AI and machine learning for credit decisioning, and how big data is transforming real-time strategy adjustments. Explore advanced risk management tactics, from fraud detection algorithms to portfolio diversification, and discover how leading institutions are reshaping financial inclusion. You'll also learn the latest digital marketing and personalization strategies that help financial institutions compete, as well as state-of-the-art digital fraud prevention technologies. Gain insights into managing liquidity in uncertain times and diversifying funding sources for optimized balance sheet management. Whether you're a seasoned financial leader or an ambitious professional, this podcast equips you with the knowledge to thrive in the evolving consumer finance landscape. Featuring top decision-makers from banks, credit unions, fintechs, capital markets, and regulators, each episode offers practical advice, lessons learned, and strategies for growth. Subscribe now to join a special community of financial visionaries and transform your approach to strategic planning, risk mitigation, loan portfolio growth, and income diversification. Discover innovative approaches to managing assets, anticipating market shifts, and expanding revenue streams. About the Host: As Upgrade’s CFO, Jeff is focused on building the finance, HR, and real estate functions to support the company’s growth. Prior to co-founding Upgrade, Jeff built and led the Investor Group at Lending Club, sourcing more than $15 billion in capital from retail, institutional, and financial institutions. His role also involved managing platform funding, balancing investors with borrowers to fund loan products. Before moving to the Bay Area, Jeff spent 8 years as an investment banker at Morgan Stanley, Greenhill, and SunTrust, where he provided M&A advice and raised capital, primarily for financial institutions. Jeff holds an MBA from Harvard Business School and a BBA from The University of Georgia. In his free time, he enjoys skiing with his family and watching college football.

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