Marketplace Lending News Roundup – October 15, 2016

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. The Lend Academy team was in London this past week attending LendIt Europe 2016 so a lot of news this week is focused on what came out of that event.

Funding Circle CEO: “There’s no such thing as a hybrid lender” from AltFi News – Commentary on Samir Desai’s keynote at LendIt Europe this past week.

The ex-finance watchdog who trashed peer-to-peer lending now says it could ‘make credit crunches less likely’ from Business Insider – Former top regulator Lord Turner clarified his position on P2P lending while speaking at LendIt Europe.

P2P outfit LendingWell wins LendIt pitch trophy from Finextra – The first PitchIt @ LendIt contest in Europe was won by Lendingwell.

Global P2P market worth over £106bn from P2P Finance News – I like this new UK publication that has recently launched. Here they discuss the new report from KPMG and University of Cambridge.

LendIt Europe Day One and Day Two Summaries from LendIt – The official summaries from LendIt of both days of LendIt Europe 2016.

View the Presentation Slides from LendIt Europe 2016 from LendIt – Links to all the slide presentations and accompanying videos (where available) from LendIt Europe.

Funds Are Taking the Peer Out of Peer-to-Peer Lending from Bloomberg Quint – There are more funds coming to marketplace lending and eventually most individual investors will invest this way.

Lending Works gets full authorisation, ISA manager status to follow from AltFi News – Finally the FCA has fully authorized one of the P2PFA members. Congrats to Lending Works.

Peer-to-peer lender Zopa is now profitable — a year ahead of schedule from Business Insider – The world’s first P2P lending platform, Zopa, announced this week that they posted a profit and September.

Lord Turner’s P2P U-turn: Ex-Regulator Thinks Platforms Will Boost Financial Stability Not Wreck It from Forbes – Commentary on Lord Turner’s about face on P2P lending from his LendIt Europe speech earlier this week.

Is Goldman’s ‘Marcus’ a Serious Threat to Banks? from American Banker – It is not just marketplace lending platforms that are threatened by Goldman Sachs new platform, it is also banks.

Morgan Stanley Backs PayPal Co-Founder’s Lending Startup Affirm from Fortune – Point of sale lender Affirm, founded by Max Levchin, announced a new round of funding this week.

My Lendit Europe 2016 Recap from P2P-Banking.com – Another excellent wrap up of LendIt Europe 2016, this one by Claus Lehmann.

Lending Club Chief Investment Officer Sends Letter to Investors Providing Credit & Interest Rate Update from Crowdfund Insider – Lending Club has adjusted their credit model once again and announced an increase in interest rates.

#MyProsperStory Investor Q&A with Prosper Investor: Brian Weinstein from Prosper – The Chief Investment Officer of Blue Elephant shares his thoughts on the industry.

Weekly Online Lending Snapshot – October 14, 2016 from Orchard – All the important marketplace lending numbers from this past week.

Ripple CEO Calls for Next President to Appoint FinTech Advisor from Coindesk – Chris Larsen, the founder of Ripple (and coincidentally the co-founder of Prosper) wants the next president to take a more active role in fintech.

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