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.
Digital Lender Evolution from Autonomous – We start off the post-holiday week with new research out from Autonomous on the digital lending evolution including global loan volumes.
Alternative finance industry report – business booming from Payments Cards & Mobile – The 5th annual report from The Cambridge Centre for Alternative Finance (CCAF) on the UK alternative finance market is out. Good run down of the highlights from Payments Cards & Mobile.
Weren’t algorithms supposed to make digital mortgages colorblind? from American Banker – New study out by University of California Berkeley shows automated underwriting has the same biases as human underwriting when it comes to mortgage applications.
Revolut, the UK’s $1.7 billion star fintech, has big dreams as it takes on the American market from Business Insider – If you don’t know UK fintech leader Revolut well yet that is about to change. They are launching in the US in early 2019 and will become a significant player here very quickly I expect. Good piece about them in Business Insider.
Are banks’ collection departments finally ready for a tech overhaul? from American Banker – There is some really interesting work being done on the collections front with companies like TrueAccord taking a new approach. But are banks ready asks Penny Crosman.
China Planning Major Purge of $176 Billion Loan Market from Bloomberg – The news keeps getting worse for the once high flying p2p lending sector in China. The government is looking to wind down most small and medium sized platforms.
Government to channel another £150m through Funding Circle from AltFi – The British Business Bank (BBB) has made a big new commitment to Funding Circle in the form of a £150m facility. This is on top of the £165m already invested to date.
Millennial credit habits: a major shift from Vantage Score – Millennials have thin files in part because of their desire to pay down student debt and not take on more credit, and that is hurting them in the marketplace for credit.
What We Learned About Credibly From Credibly’s Securitization from deBanked – Small business lender Credibly completes their first securitization giving a window into how the company is doing.
Cash-Strapped Millennials Are Turning to Installment Plans to Pay for T-Shirts and Jeans from Bloomberg – Point of sale lending is growing fast, driven by millennials, who are open to credit card alternatives.
SoFi CEO Anthony Noto: Our loans ‘have really strong risk controls’ from CNBC – Jim Cramer chats with SoFi CEO Anthony Noto on their SoFi Money product, credit risk, offering free advice, company culture and more.
What could happen if large banks really invest in fintech from Tearsheet – New report from Moody’s looks at what might happen if banks spent 50% of the technology budget on new technologies.
UN’s fintech task force fired up for sustainable development from Fintech Futures – The United Nations has created a new task force to see how fintech can be a driving force for sustainable development.
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.
Opinion on Wunder Solar Funds – One investor who invested with Wunder Capital back in 2017 shares their experience.
Cash Parking – Savers can now get 3.45% on a 84 month CD.
New Money Bonus – A Prosper investor has received an email offering an investment bonus for adding new funds.