Marketplace Lending News Roundup – March 25

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.

Founder of peer-to-peer lending in new venture for SMEs from Financial Times – Industry pioneer & Zopa co-founder Giles Andrews has added a new role, chairman of MarketInvoice.

Online Lender Prosper Reports Wider Loss on Loan Slowdown from The Wall Street Journal – We all knew this was coming but the 2016 numbers for Prosper were not good.

China: WeiyengX Fintech Review from Crowdfund Insider – Roundup of the latest Chinese fintech news from Crowdfund Insider.

Bondora turns to profits after focus on consumer loans from ArcticStartup – Estonian p2p lending platform Bondora issued €30M in consumer loans in 2016 and turned a profit for first time.

MPL Loan Performance Monitor from PeerIQ – PeerIQ takes a look at the recent trends in delinquencies and charge-offs for Lending Club and Prosper.

Experian partners with tech firm to speed up lending from Reuters – Experian has partnered with fintech company Finicity to help speed the consumer lending process.

Kabbage to set up in Ireland after €50m investment from ISIF from The Irish Times – Interesting that Kabbage has chosen Ireland over the London for its European HQ.

Goldman Sachs offers new online lending platform from Marketplace – Short piece about Marcus by Goldman Sachs and what makes them different.

Rating Action: Fitch Upgrades Loans Originated by Prosper from Crowdfund Insider – Good news for Prosper. Their 2016 Citi securitization has been upgraded by Fitch Ratings.

Higher Early-career Salaries Allow Private University Graduates to Keep Pace on Student Loan Repayment from CommonBond – March madness with a twist at CommonBond. Which schools in the Sweet 16 have the best student loan repayments.

Will Apple Bank be the first new American #Fintech Bank? from Finanser – The always interesting Chris Skinner digs into the OCC Fintech Charter.

Why mobile might be the only platform to serve underbanked from American Banker – American banks need to be building apps for end to end banking services. For many mobile is their only access.

Sofi, Quovo Show Off Wealth Management API from Bank Innovation – SoFi has teamed up with Quovo to create an API for wealth management customer authentication.

The Lowdown from Lendit 2017 – Banks are Back in the Game from Forbes – The banks are back when it comes to small business lending says Brock Blake of Lendio.

Ron Suber on Fintech & Fraud: A Global Challenge (Deck) from Crowdfund Insider – Ron Suber of Prosper tackled fraud in his latest keynote speech.

LendIt Conference 2017: RealtyMogul’s Cofounder & CEO Jilliene Helman On The Future Of Investing from Forbes – The CEO of RealtyMogul.com talks real estate investing, technology, scale and the future.

In blow to London, EU considers passporting for fintech services from Reuters – The EU may provide passporting for fintech which mean startups could look beyond London as their base.

How SoFi Rose To Become an Alternative Finance Leader from Lending Times – In depth piece describing why SoFi is now the leader in online lending.

Citing Unnamed Sources, Reuters Reports Kabbage Possibly Looking to Acquire OnDeck from deBanked – Kabbage is reportedly going to raise money for acquisitions. Is OnDeck on the list?

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.

PeerStreet – Investors talk about PeerStreet’s 1% yield bump for referred investors and how the company is structured in the event they go out of business.

The identity fraud repayment promise – An investor contacts Lending Club to find out what loans they purchased that were a result of identity fraud or theft.

phone call from Folio – Folio is reaching out to some investors who transact on the Lending Club secondary market.

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