Marketplace Lending News Roundup – June 24

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.

The challenge of solving for financial inclusion from Tearsheet – One of the big challenges for fintech is expanding access to financial services. It is not easy.

Weekly Industry Update: SoFi Bank, Upstart and Lending Club’s Inaugural Sponsored Deals from PeerIQ – This week the PeerIQ newsletter compares the most recent marketplace lending securitization deals.

P2P platform Yirendai ready to move up a financial league or two, including into wealth management from South China Morning Post – Leading Chinese platform Yirendai is expanding into new areas of financial services beyond p2p lending.

Swedish fintech leader Klarna wins banking licence from Financial Times – Klarna, one of the largest European fintech companies, has received a banking license in Sweden.

Dubious Story On Strategic Funding Unfounded from deBanked – Interesting piece about the rumor of Strategic  Funding Source cutting off a deal to acquire CAN Capital.

Goldman Sachs’ new online lending business has already hit a $1 billion milestone from Business Insider – Since launching in October Marcus has issued over $1B in new loans according to the Goldman Sachs’ CEO.

A Glimpse Into The Future of Finance from LinkedIn – Prosper president Ron Suber shares what he learned from his recent visit to Singapore.

Alibaba Must Acquire Starbucks, WeWork, Airbnb, Uber, Tesla & PayPal from Crowdfund Insider – Interesting perspective on China and their dominance in fintech.

US lenders rally to oppose SoFi banking move from Financial Times – In an unsurprising move a bank lobby group is opposing SoFi’s application for a banking license.

Chatbots to humans: Move aside, I got this from American Banker – Chatbots are going to become an integral part of financial services.

Peer-to-peer lending boss Rhydian Lewis receives OBE from AltFi – Congrats to Rhydian Lewis, CEO of Ratesetter, on his OBE.

Alternative Lenders Spread Their Wings Internationally from deBanked – The international expansion of leading alternative lenders has only just begun.

LendingPoint founders share recipe for success from Bankless Times – The leaders of LendingPoint have deep experience in credit so loan performance is front and center.

Shocker: Mortgage tech firm Sindeo suddenly folds from HousingWire – Another fintech company closes up shop. Sindeo announces it is closing its doors immediately.

Acting comptroller’s wish list echoes long-held demands by banks from American Banker – The acting head of the OCC testified before Congress today offering 17 specific legislative proposals.

One year in: How JPMorgan is transforming small-business lending from Tearsheet – Interview with the head of Chase Business Quick Capital on their partnership with OnDeck and more.

Lending Club Up Against Goldman Sachs… And A Whole Lot Of Others from Seeking Alpha – Bearish opinion piece on Lending Club comparing their offering unfavorably with that of Marcus.

Zopa boss Janardana details plans for customer-centric bank from AltFi – More details are emerging at Zopa on their plans for launching a bank.

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.

June seems to be a horrible month for me – The forum discusses whether retail investors are pulling out of Lending Club.

Reason Behind Declining Loan Performance – Forum members share their thoughts on the American consumer and what’s going on with the economy.

I made a big mistake – An investor asks how to avoid custodian fees with a small Prosper IRA account.

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