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Marketplace Lending News Roundup – August 25

August 25, 2018 By Peter Renton Leave a Comment

Views: 320

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.

China Is Said to Start New Round of Checks on P2P Lenders from Bloomberg – In China regulators are trying to clean up the p2p lending industry with a new round of checks (video).

Glad tidings: Fintech business bank secures £8m fundraise from AltFi – Business banking fintech firm Tide has closed a new round of investment.

How AI will change banking from Chris Skinner’s Blog – We reported last week on the new report out from the World Economic Forum on the impact of AI on banking. Chris Skinner has a a great roundup of the key findings of the report.

Forecasting Cashflows using Machine Learning, Strong Retail Sales Report from PeerIQ – This week’s PeerIQ newsletter has a roundup of the current news and continues their deep dive on loan valuation.

Peer-to-peer lender SocietyOne is about to hit $500 million in lending from Business Insider – In Australia leading marketplace lending platform SocietyOne is nearing $500 million in total loans issued and they have a new CEO.

Don’t let that data you’re sitting on go to waste from American Banker – As fintech platforms eat into many profitable business lines for banks will banks look to data monetization as a way to replace some of this lost revenue?

Massive P2P Failures in China: Underground Banks Going Under from Peterson Institute for International Economics – Interesting piece by Peterson Institute for International Economics research fellow Martin Chorzempa on the messy situation with p2p lending in China and why it became such a problem.

Nearly 500 CEOs receive invite after months of delays to £775m RBS bank fund from Evening Express – In the UK competition is heating up for the £775m RBS fund for small business lending as almost 500 firms have received invitations to bid for a piece.

Goldman Sachs opens retail bank Marcus in UK from Financial Times – We knew this was coming but today they made it official. Marcus has opened for business in the UK and is now accepting deposits at what the Financial Times says is the highest interest rate in the country.

The future financial world is here from Chris Skinner’s Blog – Great piece by Chris Skinner on the future of finance and how we will soon live in an on-demand world for all financial services.

UK government preps banking and fintech for no Brexit deal from Fintech Futures – The UK government has unveiled its contingency plan for banking, insurance and other financial services in case there is no Brexit deal after the March deadline.

Litigation finance industry opens up to private investors from Financial Times – I am a big fan of litigation finance and here is a good primer on the industry from the Financial Times. It includes a mention of fintech veteran Cormac Leech’s new gig as the CEO and co-founder of Axia Funder.

Lenders Shunned Risky Personal Loans. Now They’re Competing for Them. from The Wall Street Journal – Interesting piece in the Wall Street Journal on the growth of the personal loan market and how it is now one of the most competitive sectors in all of lending.

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.

Ridiculous number of defaults, anyone else? – A LendingClub borrower shares their experience when they unknowingly charged off on a loan.

Looking to buy Historic Folio data – There are still four states where investors can not participate on LendingClub’s primary market, but can invest in notes on the secondary market.

Liquidity when investing in P2P loans – A new investing tool has launched for LendingClub investors.

Filed Under: News Roundup

Views: 320

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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