According to the WSJ Article "A New World of Online Lending" November 23, 2015, Online lenders make use of big data to make loan decisions. The online lenders have automated the process of analysing this data with algorithms, which costs less than personal underwriting completed by staff at traditional banks.

Which of the following is correct regarding the online lenders financial ratios compared to ratios of a brick and mortar bank with people doing the underwriting?

	a.	Online lender will have a lower ratio of (Net Income / Average Assets) than traditional bank, and this measures profitability
	b.	Online lender will have lower ratio of (operating cost/average loan portfolio outstanding) than traditional bank, and this measures efficiency
	c.	Online lender will have lower ratio of (average number of loans/average number of credit officer) than traditional bank, and this measures productivity
	d.	All of these are true