Marketplace Lending News Roundup – April 27, 2019

News

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.

Resolve Shakes Up B2B POS Payments from PYMNTS – We all know Affirm has revolutionized retail point of sale lending and now a spinoff company, Resolve, is looking to do the same to the business to business space.

LendIt Fintech USA – Seven Years of Fintech Innovation from Crowdfund Insider – Great writeup of this month’s LendIt Fintech USA 2019 by our good friend Timothy Li in Crowdfund Insider.

How a Small Iowa Institution Became The Bank Powering Big Fintech Apps from The Financial Brand – This is a fascinating story of how a small Iowa community bank became a leading player in fintech, innovation is everywhere.

SoFi Is in Talks With Qatar for $500 Million Funding Round from Bloomberg – In the flurry of fintech funding rounds in 2019 along comes SoFi with potentially the largest round of them all so far this year. They are looking to raise $500m

Financial Inclusion: Middle East & Africa from Financial Times – So many interesting articles in this special report by the Financial Times on financial inclusion in Africa and the Middle East.

Fintech charters, CRA and data sharing: McWilliams, Otting weigh in from American Banker – Yesterday the FDIC hosted an event in Washington that featured several top regulators including Jelena McWilliams, Joseph Otting and Steve Mnuchin. A good summary from American Banker.

Fintech overtakes HSBC and Santander as banks pull back from business lending from Yahoo Finance – UK small business lender iwoca is getting some serious traction. One of their products now has more marketshare than HSBC and Santander.

Funding Circle cuts forecast returns for retail investors from Financial Times – Also in the UK Funding Circle announced that they have cut expected returns for retail investors and tightened their lending criteria.

Congress must provide better regulation of alternative business lenders from The Hill – Op ed by the Chairman of World Business Lenders providing three suggestions for new regulations supporting small business lending.

Fintechs’ Risk Taking Should Serve Them Well In A Recession from Forbes – Interesting look at the positives and negatives of a recession and the impact on fintech.

Can blockchain cut down closing costs? from American Banker – Mike Cagney’s new company, Figure, and their blockchain initiative, Provenance, is looking to take costs of the mortgage process, from application, closing to securitization.

From the Lend Academy Forum

The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.

STRATA Public Unsecured Notes balance not equal LC balance – An investor shares an issue related to closing out a LendingClub IRA.

LC Bot Performance Info – A forum member shares information about a bot they run that is purchasing loans on LendingClub’s secondary market.

Cash Parking – A popular thread on where the best places are to park cash.

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