During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

China’s P2P lenders brace for renewed regulatory crackdown from Financial Times – In China a new round of regulations are coming in June that will cause yet more disruption in the p2p lending industry there.

How Credit Karma is using data to become a central finance hub from Tearsheet – Last month Credit Karma acquired personal finance startup Penny to roll out a chatbot for its 80 million customers.

US GDP revised upwards, Citi’s Digital Bank takes on Marcus, PeerIQ’s Credit Facility Management Suite from PeerIQ – This week the PeerIQ newsletter introduces their new credit facility management suite, the growth of digital banking and more.

Funding Circle Expands U.S. Operations with New Office in Denver from PR Newswire – As a Denver resident I was pleased to hear today that Funding Circle has chosen Denver as their second major office in the US. Good move.

International P2P Lending Volumes March 2018 from P2P-Banking – The European p2p lending loan volumes are out and Funding Circle continues to dominate the market there as by far the largest P2P lender.

LendingClub settles with Mass. banking regulator for $2M from American Banker – On the legal front LendingClub continues to work through their legacy issues settling with the MA bank regulator.

Why It’s No Surprise That Online Lender GreenSky Would Weigh An IPO from Forbes – More on the possible GreenSky IPO from the only publication to have done an in depth feature on the company. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Why OakNorth is posting profits when other challenger banks aren’t from Tearsheet – UK challenger bank OakNorth is different to pretty much all its competitors, it is actually making a profit. Tearsheet has the scoop on how they do it.

Our future with MoneyLion from MoneyLion – The Godfather of fintech Ron Suber has joined the board of MoneyLion. In this post he explains why.

Bank accounts could disappear within 15 years according to one of Deutsche Bank’s most senior execs from Business Insider – The co-head of investment banking at Deutsche Bank sees a very different future for banks after his recent trip to China.

Upstart Seeks $100 Million, Testing VCs’ Appetite for Online Lending from Bloomberg – According to Bloomberg Technology consumer lending platform Upstart is testing the waters on a $100M equity funding round.

Latest weapon in battle for deposits: A digital-only bank from American Banker – Many large banks are creating new brands as they dip their toes into digital-only banking.

Avant Founders Raise $15 Million for Blockchain Firm, Token Sale from Bloomberg – This is really interesting. The Avant co-founders have started a blockchain company to help build out a new ecosystem for identity and credit worthiness.

Exclusive: Revolut to launch business marketplace, but will underwrite its own loans from AltFi – In the UK it looks like popular neo-bank Revolut will be launching a business marketplace which will include offering small business loans. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

How Amazon is shaking up financial services from American Banker – A look at all the ways Amazon is shaking up financial services.

The Story of India’s Emergence as a Leading FinTech Hub from MEDICI – There is huge growth in fintech in India right now and the numbers confirm this. According to MEDICI there were more fintech companies started in India in 2016-17 than any other country in the world.

Ex-SoFi CEO Mike Cagney’s new startup, Figure, is out of stealth from Fast Company – I have been hearing rumors about this for a couple of months now but Mike Cagney’s new venture is officially out of stealth mode now. His new company, Figure, will disrupt the home equity market.

N26 raises $160 million from Tencent and Allianz from TechCrunch – German digital banking startup n26 has raised a huge $160M Series C led by Allianz and Tencent, an interesting combo of established and new. The round will help facilitate its expansion into the UK and US this year.

Affirm embeds with Apple Pay for instore financing from Finextra – Leading online point of sale lender Affirm is set to move into brick and mortar stores. They are giving merchants two offerings: the Affirm InStore API or use Affirm’s expanded virtual card experience.

How digital banks are raising the bar for customer experience from Tearsheet – More bank customers today have high expectations of banks when it comes to customer experience. European digital banks are leading the way here.

FCA calls for global effort to speed up fintech growth from Financial Times – In the UK the FCA is leading the charge to connect global regulators to create a type of global fintech sandbox. I wholeheartedly support this initiative even though it will challenging to pull off. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Funding Circle Picks Goldman Sachs, Morgan Stanley for IPO from Bloomberg – The long awaited Funding Circle IPO keeps moving forward. According to Bloomberg they have chosen the bankers to lead the IPO and the timing will be Q2 or Q3.

Making the Business Case for Financial Health from CFSI – New report out today from CFSI on financial health and why focusing on this is good for both customers and shareholders.

HSBC hopes to launch ‘open banking’ app within months from Financial Times – Looks like HSBC will be the first major UK bank to launch an app that takes advantage of the new Open Banking rules.

OnDeck Announces Chief Financial Officer Transition from OnDeck – After many years as CFO of OnDeck Howard Katzenberg is moving on. New CFO is Ken Brause formerly of CIT.

Fintech-on-fintech M&A: Tandem acquires money management app Pariti from AltFi – A new fintech M&A deal in the UK as challenger bank Tandem has acquired personal financial management app Pariti.

Ant Financial Consumer Lending Reaches $95 Billion from Bloomberg – In China Ant Financial has become one of the largest consumer lenders on the planet with a reported loan book of $95B.

10 key findings: Sexual harassment in the professional workplace from American Banker – Important new study on sexual harassment by SourceMedia who owns American Banker and other finance publications. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Best Fintechs to Work For from American Banker – Great new list out from American Banker: The Best Fintech Companies to Work For. Congrats to everyone who made the list.

Credit-Card Losses Surge at Small Banks from The Wall Street Journal – It is interesting that credit card delinquencies at small banks have risen sharply while at larger banks they have remained relatively steady.

The stepladder of inclusion from The Finanser – Looking at the steps the unbanked in Africa can go through from excluded to fully included in the financial system.

Kabbage vows to curb lending to gun sellers from American Banker – Small business lender Kabbage has entered the national gun debate by curbing lending to certain firearms companies.

Next Up for Amazon: Checking Accounts from The Wall Street Journal – The latest foray from Amazon into fintech may be offering checking accounts to millennials. No, they are not applying for a banking license, looks like they intend to partner with a large bank on this initiative.

Amazon in talks with JPMorgan to offer bank accounts from Financial Times – More on the Amazon-JPMorgan potential checking account deal with an interesting quote from David Klein.

Citi developing digital-only bank, CFO says from American Banker – Now it is Citi’s turn to be in the news. Their CFO just shared they will be releasing a nationwide digital bank in the near future. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

SoFi’s new CEO says bank charter remains an option from American Banker – Today is the new SoFi CEO’s first day on the job. Here are some of his thoughts on the direction he will take the company.

As online lending grows up, banks work to strengthen partnerships from Tearsheet – The bank at the epicenter of marketplace lending is Cross River. They say fintech partnerships are key and they provide some thoughts on their “banking-as-a-service” product.

Fintechs’ charter hopes may lie with new FDIC board from American Banker – There is new leadership at the FDIC as they get ready to consider the ILC application for Square.

Virgin Money reveals digital bank build from AltFi – It looks like Virgin Money is going to launch a digital bank in the UK to take on the likes of Monzo, Starling Bank and Revolut.

Goldman Sachs, Adviser to the Elite, Wants to Be Your Local Bank from The Wall Street Journal – Lots of great nuggets on Marcus in this in-depth piece in the Wall Street Journal. Lloyd Blankfein is betting the farm on their new consumer finance business.

Asia Sees Massive Drop in Fintech Investment as China Loses Momentum from CFO Innovation – According to this KPMG report total funding in fintech across Asia plummeted more than 60% in 2017 with China showing the biggest drop.

Inside UK startup bank Revolut’s revenue model from Tearsheet – One of the most interesting and fastest growing fintech companies is Revolut. They just announced that in December they broke even for the first time. Tearsheet digs into their revenue model. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Silicon Valley Explores a New Investment: Your Home from The Wall Street Journal – A new kind of investment is gaining some traction, investing in the equity of individual homes. Good roundup of this new trend.

Funding Circle set to hire Morgan Stanley to lead London flotation from Peer2Peer Finance News – Looks like Funding Circle is moving one more step closer to their reported 2018 IPO. They are set to hire Morgan Stanley as their lead banker.

Lending Works chooses Credit Kudos to power new Open Banking initiative from Finextra – More open banking moves in the UK. Lending Works and Credit Kudos are teaming up to help automate credit and income verification.

ING Diba Buys Lendico from P2P-Banking – The German division of Dutch banking giant ING has bought struggling p2p lending platform Lendico.

Weekly Industry Update: Rebounding Equity Markets, The Case for Bank M&A from PeerIQ – The PeerIQ newsletter this week takes a fascinating look at the potential of bank M&A in the online lending space.

Crypto lending platform nears launch from AltFi – New cryptocurrency lending platform getting set to launch in the UK.

The World’s 50 Most Innovative Companies 2018 from Fast Company – Congrats to CommonBond who join an esteemed list of companies including Apple, Netflix, Square and Amazon as one of the 50 most innovative companies on the planet. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Weekly Industry Update: Equity Market Volatility, GS Dialing Up M&A from PeerIQ – In the latest PeerIQ newsletter they discuss Goldman acquisitions and three big securitizations that have already closed in 2018.

Most companies are unprepared for a cyberattack from The Finanser – This is something we must address. While US and UK companies are better prepared than most, companies big and small are largely unprepared for a cyber attack.

How the Innovative Finance ISA can take off from AltFi – In the UK the Innovative Finance ISA has very little awareness among the public and has attracted meager assets thus far. This needs to change in 2018.

Forbes Fintech 50 2018: The Future Of Lending from Forbes – Some great names on this list. From the Forbes Fintech 50 these leaders are defining the future of lending.

Bill to address Madden ruling would be nightmare for consumers from American Banker – This op-ed in American Banker misses the point on how the “Madden Fix” bill will actually help consumers but it is still good to hear the other side of the argument.

Fortress Balance Sheet: Goldman Sachs’ Online Lender Marcus Has Access to $17 Billion in Deposits from Crowdfund Insider – We have known for a long time that Marcus could draw on a large deposit base. Now Goldman Sachs CEO has confirmed that there is $17B in deposits available for Marcus.

Banks, Alt Funders Continue to Compete for Small Business from deBanked – There are many more options today for small business loans than ever before. Good rundown by deBanked. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Hard Lessons From the Federal Student-Loan Program’s Coming $36 Billion Shortfall from The Wall Street Journal – The shortfall in the federal student loan program has gone from a projected $8.4 billion to a $36 billion deficit. Something needs to be done here.

Alternative Finance at #PFF18: 16 Fintech Startups Deliver $12 Billion Financing to Consumers and SMEs in 32 countries from Crowdfund Insider – Great review of the Alternative Finance track at last week’s Paris Fintech Forum.

Banco BNI Europe Starts to Lend on Multiple P2P Lending Platforms from P2P-Banking – The Portuguese digital bank Banco BNI Europa is making a name for themselves in marketplace lending. Their latest addition is Finnish platform Fellow Finance.

State regulators launch joint multistate licensing process for fintechs, MSBs from American Banker – The burden of 50 different state regulations for fintech may be getting easier with a pilot program across multiple states.

Goldman Sachs in Talks With Apple to Finance iPhone Sales from The Wall Street Journal – This would be a coup if the deal closes. Marcus in talks with Apple to provide financing for iPhones.

Why point-of-sale lending is hot right now from American Banker – Great in depth article on the state of point of sale lending, who the major players are today and why it is booming.

Fintech partnerships can work (see: Radius Bank) from American Banker – Boston based community bank Radius Bank has become a leader when it comes to partnering with fintech platforms. [Read more…]

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Funding Circle heads for market from The Times – According to The Times a Funding Circle IPO could mean a big marketing blitz in the US where brand awareness is still very low.

A bank’s unfolding plan to enter online consumer lending from American Banker – Yet another bank is looking to start a consumer lending operation by partnering with a fintech platform.

Weekly Industry Update: Strong GDP growth, Mulvaney’s New Director for CFPB, SoFi’s New CEO from PeerIQ – In this week’s PeerIQ update they look at recent comments from the acting CFPB director and what it all means for fintech platforms.

Hearing entitled “Examining Opportunities and Challenges in the Financial Technology (“Fintech”) Marketplace” from Financial Services Committee – On Capitol Hill this week the House Financial Services Committee held a hearing on fintech featuring Nathaniel Hoopes and other industry leaders.

Lessons from a Mountain Top from Rewirement – The latest lessons from the inimitable Ron Suber, the mayor of fintech.

Zopa hits £3bn lending landmark from Peer2Peer Finance News – In the UK Zopa has now issued over £3B in loans to more than 300,000 borrowers.

BNI Europa to fund German SME loans via Funding Circle from Finextra – Portuguese digital bank BNI Europa is quietly making a name for themselves in marketplace lending circles. Now, they have committed €50 million to Funding Circle DE. [Read more…]