Marketplace Lending News Roundup – December 10

News

During the week I share the latest marketplace lending 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: December 4, 2016 from PeerIQ – This week’s PeerIQ newsletter discusses the new OCC charter and the latest Lending Club securitization deal.

Finexkap and Sage join forces to launch integrated funding solution from AltFi – French platform Finexkap partners with accounting software firm Sage to offer instant invoice financing.

Harmoney fined $292k for misleading consumers from NZ Herald – Leading New Zealand p2p lending platform Harmoney has been fined $292K for misleading consumers.

Peer-to-peer lenders are blurring into mainstream banks from Financial Times – I don’t see this as a bad thing but the lines are blurring between p2p lending platforms and banks.

Nested, a startup that guarantees to sell your house, is being offered £10 million worth of property a week from Business Insider – Interesting real estate startup, Nested, is getting some traction in the UK.

Personal finance startup MoneyLion to sink teeth into Series A funding from New York Business Journal – There is still VC money available for good companies as shown by MoneyLion’s $22.5M Series A.

Lemonade Closes $34 Million Round and is Poised for Growth as Company Files in California from PR Newswire – The hot new area of fintech is insurtech. Industry leader Lemonade has raised a $34M Series B (press release).

The Past, Present and Future of FinTech, by Ron Suber, Prosper Marketplace President from Juvo – Industry pioneer Ron Suber gives his thoughts on where fintech is at today and where it is going.

Orchard Partners with Sandler O’Neill to Provide Online Lending Data from Crowdfund Insider – Orchard is expanding the reach of online lending by partnering with Sandler O’Neill.

Chinese fintechs overtake Western rivals in innovation from South China Morning Post – We have often said that China leads the world in fintech and now a study by Ernst & Young agrees with that assessment.

We have a new look! from Zopa – Check out Zopa’s new look. A big improvement!

SEC Urges LendingClub to Disclose More About Loans and Funding from The Wall Street Journal – The WSJ reports on communication between the SEC and Lending Club regarding the disclosure of financial information.

Moody’s: Credit quality of marketplace loans backing ABS to be generally steady next year from Moody’s – Moody’s is forecasting moderate economic growth in 2017 and marketplace lending credit quality to remain steady.

Folk2Folk gets full authorisation from AltFi – Some of the larger UK platforms are getting authorized now with Folk2Folk the latest.

Is Fintech Small Banks’ Equalizer in Fight with Big Rivals? from American Banker – Community banks need to partner with fintech platforms to compete today, it is their best way forward in my opinion.

The Future of Lending: Will the Disrupted Become the Disruptors? from Orchard – David Snitkof considers the motivation of borrowers on the future direction of online lending.

How the OCC Plans to Apply CRA-Like Requirements to Fintech Firms from American Banker – A big part of the new OCC Fintech Charter will be financial inclusion and an enhancement to the CRA.

From Amazon to Uber: why Invisible Finance is imminent from Disruptive Finance – I love this concept of Invisible Finance and agree we are moving towards this reality.

FCA to toughen rules on P2P from Peer2Peer Finance News – In the UK the FCA has said it will implement tougher rules on p2p lending platforms there.

Lending Club’s Terrible Twos from PYMNTS – A look back on Lending Club’s first two years as a public company.

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.

OCC FinTech Charter – Forum members discuss the recently announced fintech charter by the OCC.

Best Tool for FOLIO Selling – One investor asks what third party tools are available to sell notes on the secondary market.

2015 & recent loan quality – An investor shares a table showing returns by interest rate given different cumulative charge off rates.

Anyone else seeing a huge spike in charge-offs for Nov? – With November Lending Club statements available investors share their performance.

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