Marketplace Lending News Roundup – October 22

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.

How OCC Will Assess Fintech Firms for Charter from American Banker – Interesting Q&A with the general counsel of the OCC on the potential new fintech charter.

Weekly Industry Update: October 16, 2016 from PeerIQ – As always the PeerIQ newsletter is a great summary of the past week.

Chinese Peer-to-Peer Lender Ppdai.com Plans U.S. IPO from The Wall Street Journal – Another Chinese p2p lending platform is looking to do an IPO in the US.

SoFi going global, targets Asia and Europe from AltFi News – Looks like SoFi is eyeing expansion beyond the USA with Asia and Europe in its sights.

Hanwha Life Insurance acquires 4.1% stake in U.S. Lending Club from Pulse – A South Korean life insurance company has been buying shares in Lending Club since June, now owns 4.1%.

Prosper Performance Update: September 2016 from Prosper – The monthly performance update from Prosper shows average estimated returns still above 7%.

Tighter credit market provides opportunity for P2P from Peer2Peer Finance News – Across the EU banks are looking to tighten business lending. Good news for p2p lending platforms there.

Goldman Sachs now wants to lend you money — here’s why from Business Insider – In Goldman Sachs’ Q3 earnings call this week their CFO said that Marcus has booked its first consumer loan.

SoFi, an Online Lender, Is Looking for a Relationship from The New York Times – Fascinating article about SoFi and why they are the leading US fintech company today.

A Glimpse into Square Capital’s Marketing from deBanked – Sean Murray shares the details of a direct mail piece he received from Square Capital.

Online Lenders Seek to Shape Industry Before Regulators Do from The New York Times – Good piece on the two new online lending associations taking shape today.

FDIC: Unbanked households at record low from USAToday – The percentage of households without a bank account fell to 7% last year, an all time low.

Orchard forms data analytics partnership with OnDeck from AltFi Data – Orchard is now partnering with OnDeck who will be using their Orchard for Originators toolset.

The bank of the future will be invisible – KPMG from Finextra – In a new report KPMG says the bank of the future will be primarily a virtual assistant.

CommonBond Receives A1 Moody’s Rating on $168 Million Securitization from Crowdfund Insider – In their third securitization CommonBond received an A1 rating from Moody’s.

Led By Student Loans, Marketplace Lending Securitization Volume Soars from Forbes – The one bright spot this year for marketplace lenders has been the securitization market.

Credit Spreads and Marketplace Lending from Thoughtful Finance – Interesting piece on the interest rates and investor demand for marketplace lending.

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