Marketplace Lending News Roundup – December 9

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.

Chinese Online Lender Dianrong Eyes 2018 IPO, Could Raise at Least $500 Million from The Wall Street Journal – Leading Chinese fintech platform Dianrong is planning a 2018 IPO in Hong Kong.

Weekly Industry Update: Donuts at the CFPB, LC’s Pass-Through Security, Mortgage Delinquency Case Study from PeerIQ – This week PeerIQ takes a look at the new LendingClub transaction as well as mortgage delinquencies.

Prosper’s Top Concern in 2018 is Liquidity, CEO Says from Bank Innovation – The CEO of Prosper talks about his company’s plans for 2018.

International P2P Lending Volumes November 2017 from P2P-Banking – The November p2p lending total originations are out for Europe with Funding Circle in the top spot.

Is Lending Club Misleading New Investors About Past Performance? from deBanked – I think Sean Murray has a valid point here. LendingClub has moved the goal posts on their low risk claim.

Affirm Is Said to Be Raising Funding at $1.5 Billion Valuation from Bloomberg – Looks like the online lending space is about to mint another unicorn. Affirm is raising money at a $1.5B valuation.

Time to address banks’ skepticism about data sharing from American Banker – Open banking is coming but the #1 challenge to its adoption I think will be around data security.

Credit score row as FICO chief hits out at banks over ‘Fako’ rivals from Financial Times – The head of FICO is miffed that some are using his competitor’s credit score, calling it “fako”.

Regulators say they promote innovation, but the opposite is true from American Banker – Great article on the need for US regulators to pay attention to what is happening around the world.

SoftBank’s Son Eases Lufax Peer Pressure from Bloomberg – The long awaited Lufax IPO looks like it is back on track, they may raise as much as $5B in a Hong Kong listing.

Peer-to-peer lender RateSetter’s losses jump as it takes a hit from bad loan to ad company from Business Insider – In the UK Oscar Williams-Grut reports on the latest financials from RateSetter and it is not pretty.

Speculate away! Revolut launches cryptocurrency exchange tool from AltFi – In Europe Revolut introduces trading support for Bitcoin, Ethereum and Litecoin.

A Lesson on Lending: Alternative Lenders and Community Banks from Let’s Talk Payments – Community banks are losing business to online lending platforms, here is what they can do about it.

Banks are missing the point of open banking from Tearsheet – Banks say they are ready for open banking but are they really?

P2PFA members banned from raising funds through their own platforms from Peer2Peer Finance News – In the UK the P2PFA have adopted new operating principles for their member companies.

Fully-automated fintech lender Billie secures €10m series A from AltFi – German invoice finance platform Billie has raised €10m in a series A.

The 4th UK Alternative Finance Industry Report from University of Cambridge – The 4th UK Industry Report, Entrenching Innovation, is out from Cambridge Centre for Alternative Finance.

WSFS Financial, SoFi to offer cash management account from American Banker – In response to customer demand SoFi is partnering with WSFS Bank to offer a new cash management account.

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.

LC Lowers Some A SubGrade Interest Rates – An investor shares a detailed breakdown of interest rates by grade over time.

LC Hosting First Investor Day in NY Today Stock Down to $3.50 in Pre-Market – The forum reflects on LendingClub’s investor day.

Worst Month Yet, Prosper Version – A forum member shares their Prosper performance updated with November data.

Worst Month Yet – Investors discuss LendingClub loan performance as November comes to a close.

GroundFloor equity offering – It looks like Groundfloor is raising another round of equity.

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