Marketplace Lending News Roundup – November 9, 2019

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.

Uber’s Fintech Strategy: A Conversation With Peter Hazlehurst, Head Of Uber Money by Forbes – The move by Uber into fintech with Uber Money is super interesting. In his latest Forbes column Ron Shevlin talks with Peter Hazlehurst, Head of Uber Money, to discuss this new initiative.

How Goldman Sachs plans to boost its reput`ation with online bank Marcus by Yahoo Finance – We know that Marcus has received great feedback from its customers and even won a JD Power Award. This is expected to help boost the Goldman Sachs brand as well according to a company executive.

BankThink CFPB can do better by fintechs than a ‘policy tool’ by American Banker – Former head of Project Catalyst at the CFPB, Dan Quan, talks about what the organization has learned about fair lending risk in AI underwriting models and how that knowledge can be used in service of the fintech industry going forward.

Here’s the pitch deck that fintech dv01 used to nab $15 million from the likes of George Soros and Pivot Investment Partners. The startup’s founder called it the easiest round he’s ever raised. by Business Insider – The CEO of dv01 inc, Perry Rahbar, talks about his experience raising their $15 million Series B earlier this year and includes a link to the deck that he used with George Soros and Pivot Investment Partners.

Ron Suber Shares Perspective on Fintech: “Creating a successful digital bank is like golf and bridge – harder than it looks” by Crowdfund Insider – Q&A with the godfather of fintech, Ron Suber, on fintech investing, Prosper, LendingClub, Qwil, Marcus, Figure, Libra and more.

Dawn Of The Neobank: The Fintechs Trying To Kill The Corner Bank by Forbes – In depth piece in Forbes on the future of digital banking featuring MoneyLion, Dave, Chime, Betterment and Fifth Third.

Apple Card users received $10 billion in credit from Goldman Sachs by Business Insider – In its first month the Apple Card had $736 million in balances and approximately $10 billion in total credit lines.

JPMorgan has a plan to help Amazon and Airbnb look more like banks by American Banker- Interesting move by JP Morgan in creating a virtual bank account product for the big tech companies like Amazon, Airbnb and Lyft.

LA is fast becoming a fintech hub as HMBradley launches another West Coast challenger bank by Techcrunch – the latest challenger bank to launch comes out of Los Angeles and will be focused on encouraging consumers to save.

IBM, Bank of America team up to launch financial services-specific cloud by Reuters – With cloud services for fintech being dominated by AWS as well as Google and Microsoft, IBM is making their move with this collaboration with Bank of America.

The Marketplace Bank: Is LendingClub the Future of Banking? by Crowdfund Insider – Interesting piece in Crowdfund Insider on what the LendingClub “marketplace bank” might look like.

BankThink U.S. banks are playing catch-up with Chinese fintechs by American Banker – Some interesting ideas here on bank innovation in this American Banker op-ed. Money quote: “The real scope of fintech innovation is not to digitize products but to form knowledge-based relationships”.

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