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.
Barclays-backed online lender MarketInvoice gets $72 million in funding from CNBC – In the UK MarketInvoice has closed on a £26 million equity round led by Barclays and Santander and also a £30 million debt facility from Viola Credit.
Banking Providers Struggling With Response to Government Shutdown from The Financial Brand – Interesting piece in the The Financial Brand on the government shutdown. If banks don’t have a digital platform along with a digital mindset it becomes very difficult to react quickly to a new circumstance.
Pawnshops and payday lenders surge on US government shutdown from Financial Times – More ramifications of the shutdown: a boost for pawnshops and payday lenders.
An Amazon Checking Account Could Displace $100 Billion In Bank Deposits (But It Won’t) from Forbes – While it could well be possible for Amazon to gain $100 billion in deposits if they offer their own checking account Ron Shevlin does not think it is going to happen. More likely Amazon will become a distribution channel for banks.
Are fintechs better off taking the ILC route to banking? from American Banker – We know that Square has gone the ILC route, should others follow their lead and eschew the risks of the OCC fintech charter? Interesting perspective in American Banker.
Former Fannie Mae Chief Joins Blend, a Mortgage Startup from The Wall Street Journal – Former head of Fannie Mae, Timothy Mayopoulos, is joining mortgage-software startup Blend saying “Fintech seems to be the place where the action is”.
Stripe Links Small Businesses To Funding Circle Finance from PYMNTS.com – A new partnership has formed to help boost small business access to capital. Funding Circle is partnering with Stripe so their users can integrate sales data with Funding Circle for faster decisions on loan applications.
One study, two vastly different visions for CFPB payday rules from American Banker – There is still a lot of debate about this payday lending study that was conducted back in 2012 and what is should mean for CFPB rules.
Fed should open the payments system to fintechs from American Banker – Interesting thoughts from Brian Knight on why the Fed should open the payments system to fintech companies contingent on the appropriate safeguards being in place.
Goldman, Citi Drop Chinese Peer-to-Peer Lenders After Crackdown from Bloomberg – More woes in the Chinese p2p lending sector. In recent months Wall Street investment banks have been walking away from IPO deals for Chinese platforms.
It’s Time To Build Digital-First Banking Units from The Financial Brand – As banks look for ways to create new digital products they should consider starting with a blank canvas and creating digital first banking units says Jim Marous in The Financial Brand.
PayPal and Mastercard execs encouraged partnerships between fintechs and banks at the World Economic Forum from Business Insider – Executives from PayPal and Mastercard were on a panel at Davos where they highlighted the benefits of partnerships between fintech companies and banks.
Fundbox Pay Expands To B2B Marketplaces from PYMNTS.com – Super interesting news from Fundbox today. They are incorporating a B2B point of sale financing offering for e-commerce sites.
Millions of bank loan and mortgage documents have leaked online from TechCrunch – More than 24 million financial documents representing tens of thousands of loans and mortgages from several large banks have been found online.
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.
I am a high frequency secondary market trader – ask me anything – A LendingClub investor shares how they’ve been investing through LendingClub’s secondary market.
Speed of Funding – An investor asks if it is possible to see what loans are most popular on LendingClub.
Taxes…? – As tax time approaches investors are interested in understanding how taxes on investments in loans are calculated.