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Marketplace Lending News Roundup – October 28

October 28, 2017 By Peter Renton Leave a Comment

Views: 5

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.

SoFi held talks for possible $8bn sale this year from Financial Times – Interesting news to start off the week. SoFi apparently explored a sale earlier this year.

Weekly Industry Update: Mosaic Prices, Nelnet Acquires Great Lakes, FinTech Financings from PeerIQ – This week PeerIQ digs into the recent deal for residential solar financier Mosaic.

OnDeck Collaborates with Ingo Money and Visa to enable real-time Loan Funding to Small Businesses from OnDeck – OnDeck will now be delivering loans to small business owners even faster with this latest partnership.

‘We’re moving from the back end to the front end’: Cross River Bank CEO Gilles Gade from Tearsheet – The CEO of Cross River talks funding, becoming a platform, banking as a service and more.

London – Still The #1 FinTech Hub from Let’s Talk Payments – It has been a good year for raising capital if you a London-based fintech company.

VPC offloads Avant loans as part of shift from marketplace lending from Peer2Peer Finance News – Victory Park continues its move away from marketplace lending by selling the majority of its Avant loans.

What full authorisation means for RateSetter from LinkedIn – The CEO of RateSetter talks about FCA authorization and the imminent launch of their ISA.

Large banks make terrible partners, fintechs say from American Banker – Fascinating piece by Penny Crosman on the dark side of fintech/bank partnerships.

ID Analytics Now Has 85% Visibility Into Online Consumer Lending from deBanked – ID Analytics is now reviewing 1 million credit applications a day providing a window into fraud.

Inside Finn, Chase’s millennial-minded mobile app from Tearsheet – JPMorgan Chase has launched a new app for millennials called Finn by Chase.

Wealthier Depositors Pressure Banks to Pay Up from The Wall Street Journal – The average yield on bank deposits has risen to 0.4% the highest level in 5 years.

Banks’ consumer lending surge ‘raises red flags’ from Financial Times – In the UK S&P says that the fast growth in consumer lending in the past 5 years “should raise red flags for lenders”.

How credit unions can advance inclusion from Tearsheet – It is an interesting time for credit unions right now. Some are focused on expanding access to capital.

Mambu: A Truly Global SaaS Banking Platform for Traditional Finance & Fintechs from Crowdfund Insider – Berlin-based Mambu is becoming a leading force in fintech with its SaaS product for banking.

New Zopa securitisation priced, highlights market confidence from AltFi – The second Zopa securitization has been received by the market more favorably than its first one.

ING launches €300m fintech fund, ING Ventures from Banking Technology – I am impressed with Dutch bank ING and their approach to innovation. Now, they are starting a €300m fintech fund.

Overview of US real estate platforms (online lenders) from MonJa – Good overview of the online lending real estate platforms in the US.

Don’t Forget about Loan Recoveries – Part 1 from Orchard – Once a loan defaults that may not be the end of the story. Orchard looks at loan recoveries.

Amazon, Tech Companies, Are Challenging Big Banks: Ahluwalia from Bloomberg – The CEO of PeerIQ talks with Bloomberg about how Amazon and other tech companies will impact banking.

Largest & Highest Rated: CommonBond Closes $248 Million Securitization from Crowdfund Insider – The 5th securitization for CommonBond is their largest and highest rated to date.

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.

Members’ Thoughts and Experience with StreetShares – Investors discuss StreetShares, a small business lending platform that focuses on veteran owned businesses.

Loan Volume – A couple investors are reporting low loan availability on the Prosper’s fractional loan marketplace.

Email: How LendingClub Notes May Help You Generate Long-Term Wealth – Lending Club is actively marketing to retail investors and advertising 4-6% returns.

Filed Under: News Roundup

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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