Marketplace Lending News Roundup – June 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.

Fintech’s ultimate value: Making sense of the data explosion from American Banker – Interesting piece what the true role of fintech should be: making sense of the masses of data.

FinTech company SoFi to add 400 Delaware workers by 2018 from DelawareOnline – SoFi is expanding its Delaware operation after it acquired Zenbanx, adding 400 people in the next 18 months.

P2P lender Zopa opens EU base to power bank launch from AltFi – In Europe Zopa continue to lead the way in fintech. They are opening a technology hub in Barcelona.

Meet The FinTech50 2017 from FinTechCity – Some great names on the FinTech 50 list this year. Congrats to LendInvest, RateSetter, MarketInvoice and others.

Kroll Bond Rating Agency Assigns Preliminary Ratings to Upstart Securitization Trust 2017-1 from Business Wire – The latest online lending securitization is a $163M rated deal from Upstart, their first, expected to close this month.

Amazon has lent $1 billion to merchants in an effort to help boost sales from Business Insider – Amazon is quietly becoming a leader in small business lending. Over $1 billion in loan volume last year.

U.S. business schools embrace ‘fintech’ as students clamor for courses from Reuters – Today fintech is one of the hottest courses at MBA schools, driven by student demand.

Americans are suddenly defaulting on their credit cards from Business Insider – Most major credit card issuers have seen a spike in charge-offs over the last two quarters.

China Rapid Finance targets 3 million new users by year’s end from South China Morning Post – NYSE-listed consumer lender China Rapid Finance expects to add 3 million new customers in 2017.

Peer-to-peer lender calls hung parliament “the worst of all outcomes” from AltFi – Commentary on yesterday’s UK election from an online lending perspective.

Marketplace Lending: The Next 10 Years from deBanked – Interesting thoughts on where marketplace lending may be heading.

New OCC FAQs on third-party relationships highlight bank arrangements with fintech companies and marketplace lenders from JD Supra – The OCC released a new bulletin with FAQs on third party bank relationships this week. Ballard Spahr LLP gives their take.

The future of authentication is biometrics. No other model competes from American Banker – I think that biometrics is one of the most interesting technologies in fintech. It will be everywhere soon.

Lending Club Shareholders Approve Election of Directors from Crowdfund Insider – Lending Club board members Scott Sanborn, Larry Summers and Scott Williams re-elected to a three year term.

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.

Worst Month Yet – Investors share their loan performance updated for May.

Worst Month Yet, Prosper Version – An investor shares performance of their Prosper account.

Consumer Distress – Forum members discuss several articles that talk about the state of the American consumer.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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