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.
Continued Yield Curve Flattening, FREED 2018-1 Deep Dive from PeerIQ – This week PeerIQ looks at the top stories from the past week and does a deep dive into the inaugural securitization from Freedom Financial.
KeyBank Acquires SMB Lending Tool Bolstr, Plans to Originate $2.5 Billion in Loans in 5 Years from Bank Innovation – Another bank is getting serious about fintech. KeyBank has acquired small business lending platform Bolstr to help them automate and mobile-enable their lending operation.
Why Borrow Against Your Cryptoasset Holdings? from Crowdfund Insider – Interesting guest post on Crowdfund Insider by Zac Prince about why borrowing money against your crypto holdings is a good idea.
‘Done is better than perfect’: How Chase built a digital banking brand in-house from Tearsheet – Interesting piece on the new mobile-only offering from Chase called Finn by Chase and how they were able to build it in house in just 16 weeks.
House passes bill allowing telecom, utility payments in credit scores from American Banker – In Washington today the House passed a bill allowing the sharing of payment information from utilities and telcos to credit reporting agencies.
Banks are losing the data war from Chris Skinner’s Blog – Interesting insights from Chris Skinner on the real competition happening today in fintech and why the digital banks are already winning.
Banks can’t partner themselves into digital relevancy from American Banker – Banks need to do more than just partner with fintech companies, they need a completely new mindset to compete in the future argues Louise Beaumont in American Banker.
VPC Specialty Lending sees record monthly returns from AltFi – It is not all bad news for the publicly traded investment trusts in the UK. Victory Park’s VPC Specialty Lending has hit an all time high for returns.
Younited Credit Tops €100 Million in Lending in Italy, Partners with Online Insurer ConTe from Crowdfund Insider – French marketplace lending platform Younited is growing well in Italy, having already reached €100 Million in just two years there.
Shared equity provider Unison Home Ownership Investors raises $40 million from HousingWire – Congrats to the Unison team on their $40M Series B.
AmEx Turns to Amazon for Credit Card Focused On Small Businesses from The Wall Street Journal – Hot on the heels of my Amazon article earlier this week we have the news they are partnering with American Express on their first small business credit card.
Portugal’s Raize becomes first European P2P lender to go public from Peer2Peer Finance News – The first IPO of a European p2p lending platform has been announced and it is not the name everyone suspected (Funding Circle) it is the Portuguese platform Raize. This will be the first IPO in Portugal since 2014.
How Monzo tried to alert Ticketmaster to its data breach from AltFi – This is a fascinating story. UK digital bank Monzo discovered a data breach at Ticketmaster two months before the company did.
This Company Helps Bitcoin Millionaires Unleash Their Fortunes from The Wall Street Journal – Good writeup on SALT Lending on their asset-backed cryptocurrency lending operation.
Fintechs’ vulnerability apparent in Capital One data-access flap from American Banker – A software update at Capital One led to customers of Plaid, one of the leading fintech API providers, being cut off.
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.
Balance Drop Without Activity – Investors discuss the timing of when recoveries and related activity/charges as well as fees are reported on LendingClub accounts.
Are Lending Club’s Statistics Pages Broken? – A good reminder that LendingClub updates their statistics page every quarter.
LendingClub is missing a couple of my notes – In certain circumstances LendingClub may remove loans from investor accounts. In this case it was due to fraudulent loans being taken out.