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.
Weekly Industry Update: President Trump Appoints Powell, SoFi’s Latest Consumer Lending Deal from PeerIQ – This week PeerIQ newsletter digs into the largest ever SoFi securitization comparing it to previous deals.
Why banks are sub-branding new customer offerings from Tearsheet – Banks are creating new brands to attract younger customers and to shift their culture.
Yesterday Bad. Today Good! from Fintech Junkie – The always interesting Frank Rotman muses about technology and timing in his latest post.
The battle over bank customer data may finally be over from American Banker – As open banking is set to hit Europe soon the US is making slow but steady progress.
AI-driven finance app Douugh partners Choice Financial for checking account from Finextra – A community bank in Fargo is leading the charge into AI for financial management, partnering with Douugh.
Monzo raises £71 million, doubling its valuation within 10 months from Business Insider – In the UK digital bank Monzo has raised £71M at a £280M valuation and now has 470K users.
PropTech Lending: High Tech vs. Old-School Underwriting from AltFi – Robert Stafler of Fintex Capital writes on how property lending is being impacted by technology.
P2P platforms turn to US markets for funds from China.org.cn – An explanation as to why so many Chinese fintech platforms are going public in the US.
Accounting software giant Intuit launches direct business loans from CNBC – Intuit had been partnering with OnDeck on small business loans, now they are launching their own platform.
The ten-year ticking timebomb from The Finanser – Banks have 10 years maximum to replace their core tech systems or risk extinction says Chris Skinner.
Revolut applies for European banking licence from AltFi – One of Europe’s most innovative fintech companies Revolut has applied for a banking license.
Medical residency refis may be just what the doctor ordered from American Banker – A new program from SoFi targets medical residents for student loan refinancing.
Q3 2017: An Update from our CIO from LendingClub – Commentary on Q3 performance from the LendingClub Chief Investment Officer.
Catching Up With LendingPoint from deBanked – Consumer lender LendingPoint is getting traction with $28M in new loans in October.
FinTech Will Change More in the Next 5 Years Than the Last 30, Says PayPal CEO from Cryptocoins News – The PayPal CEO was on Mad Money with Jim Cramer talking about the future of finance.
China’s Raging Fintech Boom on Verge of Minting Two Billionaires from Bloomberg – In China fintech continues to boom with two of the biggest names there making billionaires of their founders.
Quarles says Fed taking ‘fresh look’ at regulation, fintech from American Banker – The Vice Chairman for Supervision at the Fed is going to take a fresh look at regulation including for fintech.
Another Blow to Online Lenders from The Wall Street Journal – Commentary by the WSJ on the Q3 earnings report from LendingClub.
Borrowell Named One Of Eleven Companies-to-Watch In Canada from Borrowell – Congrats to Borrowell on becoming a company to watch on the Deloitte Technology Fast 50.
Fintech Lender SoFi Abandons Global Plans, Rethinks Asset Management from The Wall Street Journal – SoFi is focusing on their core business in the US as new initiatives get shelved.
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.
Kind of bittersweet these last few days… – An investor reflects on their Lending Club investments.
LC Cash on Balance Sheet Down – Forum members reflect on Lending Club’s third quarter earnings.
Low Risk Notes Experiment – One investor is having success investing in lower risk Lending Club notes.