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Marketplace Lending News Roundup – March 3

March 3, 2018 By Peter Renton Leave a Comment

Views: 21

News

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.

SoFi’s new CEO says bank charter remains an option from American Banker – Today is the new SoFi CEO’s first day on the job. Here are some of his thoughts on the direction he will take the company.

As online lending grows up, banks work to strengthen partnerships from Tearsheet – The bank at the epicenter of marketplace lending is Cross River. They say fintech partnerships are key and they provide some thoughts on their “banking-as-a-service” product.

Fintechs’ charter hopes may lie with new FDIC board from American Banker – There is new leadership at the FDIC as they get ready to consider the ILC application for Square.

Virgin Money reveals digital bank build from AltFi – It looks like Virgin Money is going to launch a digital bank in the UK to take on the likes of Monzo, Starling Bank and Revolut.

Goldman Sachs, Adviser to the Elite, Wants to Be Your Local Bank from The Wall Street Journal – Lots of great nuggets on Marcus in this in-depth piece in the Wall Street Journal. Lloyd Blankfein is betting the farm on their new consumer finance business.

Asia Sees Massive Drop in Fintech Investment as China Loses Momentum from CFO Innovation – According to this KPMG report total funding in fintech across Asia plummeted more than 60% in 2017 with China showing the biggest drop.

Inside UK startup bank Revolut’s revenue model from Tearsheet – One of the most interesting and fastest growing fintech companies is Revolut. They just announced that in December they broke even for the first time. Tearsheet digs into their revenue model.

German fintech lender auxmoney hit profitability in 2017 from AltFi – Good to see the leading online lending platform in Continental Europe auxmoney was profitable in the second half of 2017.

Bill to correct Madden ruling would benefit consumers from American Banker – Good rebuttal to criticism of the “Madden fix bill” that was passed by Congress last month.

Bipartisan Opportunities to Legislate U.S. FinTech in the 21st Century from Milken Institute – New report out from the Milken Institute highlights six fintech topics where lawmakers from both sides of the aisle have come together to introduce bipartisan legislation in the 115th Congress.

Marketplace lenders develop new wrinkles to attract more funding from American Banker – Both LendingClub and Marlette have developed their own securitization platforms to broaden their appeal to large investors.

International P2P Lending Volumes February 2018 from P2P-Banking – The European p2p lending loan volumes are out for February with Funding Circle in the top spot once again.

Keeping the little guys in the loop: How Funding Circle hopes to fix the financial system from City A.M. – Good profile of Funding Circle and what makes them different to traditional financial services firms.

Weekly Industry Update: and Credit Market Volatility, Continuing Bank-FinTech Partnerships from PeerIQ – The PeerIQ weekly newsletter is out on Friday this week with a review of this week’s SFIG Vegas conference.

A Dialogue with Peter Renton: Cryptocurrency and Beyond from deBanked – My interview with deBanked where we cover a broad range of topics.

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.

LC Fourth Quarter 2017 Earnings Release and Conference Call Tuesday 2/20 – Forum discuss LendingClub’s latest quarter and the current stock price.

IRA preferred custodian change – LendingClub recently changed their preferred custodian for IRA accounts.

Opinion on Wunder Solar Funds – Investors share other content around the web highlighting how Wunder works.

Filed Under: News Roundup

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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