Marketplace Lending News Roundup – May 12

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.

Elevate: Providing Responsible Credit to Non Prime Lenders from Crowdfund Insider – Good profile of Elevate in Crowdfund Insider. They are creating an alternative to payday lending for the subprime borrower.

Strong Job Growth, Bank Technology Update, MSRP 2018-SC1 Resecuritization Deep Dive from PeerIQ – The latest PeerIQ newsletter has the recent marketplace lending industry news as well as a look at the resecuritization of a 2015 SoFi consumer loan deal.

Jitters mount as loans from private equity continue to rise from Financial Times – Many credit funds specializing in leveraged loans to medium and large companies have increased substantially in size in recent years.

Better Mortgage Hires Former OnDeck Chief Financial Officer from Business Wire – This is something of a coup for Better Mortgage. They have hired Howard Katzenberg, the former CFO of OnDeck (press release).

How artificial intelligence is reshaping jobs in banking from American Banker – Fascinating in-depth piece by Penny Crosman on how AI is shaping banking today and what the future might look like.

Rebundling the bank: an interview with Renaud Laplanche from AltFi – In AltFi Andy Davis interviews Renaud Laplanche of Upgrade and discusses how banking is being rebundled.

Fintech Shakeout Will See A Lot Of ‘Pets.coms’ Bite The Dust from Forbes – Jesse McWaters of the World Economic Forum says that many fintech companies will fall by the wayside but figuring out who the winners will be is difficult.

Inside SoFi’s (expensive) customer acquisition push from Tearsheet – A look at SoFi’s marketing strategy and their effort to become a “personal finance operating system”.

Digital Lending 2.0 — A New Era from LinkedIn – The head of Barclays new US digital consumer bank talks about the next iteration of digital lending.

Goldman backs digital mortgage broker Trussle from Sky News – In the UK Goldman Sachs has made an investment in the online mortgage broker Trussle.

Funding Circle boosts IPO rumours after naming first female NED from Peer2Peer Finance News – As Funding Circle moves closer to an IPO they have hired their first female non-executive director.

Small Bank Thinking from The Finanser – Chris Skinner takes small banks to task and reminds them that they have few barriers to change other than their own thinking.

The one area where banks and fintechs want more regulation from American Banker – Banks, fintech firms and data aggregators are asking regulators to provide more clarity on how to handle consumer data.

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 interest rates updated 5/8/2018 – This week as LendingClub released their Q1 2018 earnings they also shared minor adjustments upwards to interest rates.

LC First Quarter 2018 Earnings Release and Conference Call Tuesday 5/08/2018 – Forum members share their perspective on LendingClub’s most recent quarter.

 

ROI vs YTM – A new investor asks for clarification on ROI versus YTM.