Marketplace Lending News Roundup – August 24, 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.

Mortgage Lender Better.com Grows Series C Funding Round to $160M from Fortune – We start the week with the news of yet another big funding round. Mortgage innovator, Better, has closed their Series C funding round with $160 million in capital.

Silicon Valley Is Eating The Crumbs From The Banks’ Lunch from Forbes – Many people are enamored with everything Apple does. But Ron Shevlin questions some of the assumptions being made about the impact of the new Apple Card (and more) in a recent article.

LendingClub CEO On Interest Rates, Credit … And The Bank Charter Quest from PYMNTS.com – Interesting Q&A with CEO Scott Sanborn on the bank charter, interest rates, the recent changes at LendingClub and more.

Aussie wants to reinvent banking from The Australian Business Review – It is not just the European digital banks that are coming to the US. Aussie fintech startup Douugh is coming and already has a few thousand users on their US waiting list.

Praise and scorn for California’s new business loan disclosure plan from American Banker – Last year California signed SB 1235 into law requiring better disclosures for small business lenders. Now, the real work is beginning on how to implement this law and there are challenges.

The Apple Card is the start of Goldman’s transformation into a consumer powerhouse, CEO says from CNBC – Through Marcus and the Apple Card the world’s leading investment bank Goldman Sachs is transforming before our eyes into a consumer banking leader.

PayPal-backed money lender Tala raises $110M to enter India from TechCrunch – Another big funding round announced today. Congrats to Shivani Siroya and the Tala team on their $110M Series D. Bring on India.

As An Economic Downturn Looms, Lenders Need To Start Now To Help Their Customers Weather The Storm from Forbes – We know an economic downturn will eventually happen. In a Forbes op-ed Jennifer Tescher provides sound advice on what lenders can do today to help weather the coming storm.

German challenger bank N26’s plan to win over Americans from American Banker – After a two month beta N26 has opened for everyone. Penny Crosman visits their New York office to chat with the CEO and find out how they will stand out from an increasingly crowded digital banking field.

Globalizing Fintech In Action: A Discussion With David Vélez At Nubank from Forbes – Interesting interview with the CEO of the most valuable private fintech company on the planet (excluding China).

UK Central Bank Chief Sees Digital Currency Displacing US Dollar as Global Reserve from CoinDesk – The head of the UK Central Bank said in Jackson Hole this week that it is possible the US dollar will eventually be replaced as the world’s reserve currency by a digital currency supported by an international coalition of central banks.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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