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"The proprietary credit card is not as big a benefit".
The "reshaping of our proprietary credit operation is in line with the investment bank's strategy to reduce risk concentration and balance sheet utilization," Mr. Rohner wrote.
In that context, Facebook is more than a place to share photos or check a friend's status; it is a place to buy things, sell things, play games and more, all using its proprietary credit system.
Werner uses a proprietary "credit creation" model that enables him to look at economies the way central bankers do.
Lending Club has developed proprietary credit score models and a unique algorithm called Model Rank to determine the final interest rate for each loan grade.
It offers free credit scores, credit monitoring, and goals-based guidance through a proprietary credit and debt analyzer.
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Since then many big retailers have lost their lucrative proprietary credit-card business as customers turned to services offering rewards like airline miles and teaser interest rates.
You see, most major lenders wind up using proprietary credit-scoring formulas, which are derived from one or more publicly available scores but modified with in-house analytics, to evaluate the creditworthiness of applicants.
Wang said that China Rapid Finance's edge over other online lending companies is its proprietary "Automated Credit Decisioning" and "Risk Based Pricing" technology, which allows it to quickly make decisions about how much to loan based on an individual's credit risk.
Programs such as Neiman Marcus In-Circle and Saks Fifth Avenue SaksFirst offer rebates and rewards as incentives to use proprietary-label credit cards.
Last October, employees of credit proprietary trading desk were transferred, and the equity group is expected to move later this year.
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