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: October 23, 2016 from PeerIQ – The PeerIQ newsletter this week digs into the Discover personal loan book.
China challenges London’s fintech lead from Financial Times – China is emerging as the leading country in fintech with 4 of the top 5 companies in the world.
LendingClub’s New Pitch? Refinance Your Pricey Car Loan With Us from Bloomberg – More on the Lending Club announcement today on their entry in auto loans.
Lendio Receives $20 Million Investment from Comcast Ventures & Stereo Capital from Crowdfund Insider – SME lending marketplace Lendio raises $20M.
Online subprime lender Elevate looks to expand as it awaits IPO window from CNBC – After postponing an IPO 9 mths ago subprime lender Elevate is still biding their time.
U.K. Online Lenders Brace for Brexit With Stress Tests and Hope from Bloomberg – In the UK good to see Giles Andrews taking on a British MP in the “skin in the game” debate.
Prosper Announces Pricing Change from Prosper – Prosper drops prices for lower risk loans while increasing them for higher risk.
Bizfi Hires Former Lending Club Exec as New CEO from American Banker – Formerly of Lending Club and Circleback Lending, John Donovan has a new gig as CEO of Bizfi.
Pair Of 26-Year-Olds Hit It Off After Learning They Have Student Loans From Same Bank from The Onion – The SoFi social gatherings are being parodied by The Onion here.
New blockchain powered system to make marketplace lending a “bona fide” asset class? from AltFi News – The blockchain is coming to marketplace lending. Will be interesting to see if PUFIN gets any traction.
The State of the Industry: Prosper President, Ron Suber Examines the Past, Present and Future of FinTech from Lending Times – Interesting comments from Ron Suber of Prosper on fintech today and where it is going.
What to expect in Lending Club’s 3q Earnings Report from LendingRobot – Lending Club reports Q3 earnings in 10 days, LendingRobot gives us a preview of what to expect.
Borrower or Fraudster? Online Lenders Scramble to Tell the Difference from The Wall Street Journal – Combatting fraud is always going to be a high priority for online lending platforms.
OCC Sets Up Innovation Office; No Decision on Fintech Charter from Bloomberg – I commend the OCC here for taking a leadership role in promoting innovation in financial services.
P2PGI diversifies to boost disappointing net asset value from Peer2Peer Finance News – The leading publicly traded fund is looking to expand into new markets and new verticals.
“True integration” between Borrowell and major Canadian bank from AltFi News – The first marketplace lending bank partnership in Canada is a big one between Borrowell and CIBC.
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.
Brief summary and tips for a brand new LC Foliofn investor – An investor in a FOLIOfn only state asks if returns of 6% are possible.
Back Testing Traded Notes – Forum members share ways of back testing the performance of notes bought and sold on the secondary market.
Car refis – Discussion of Lending Club’s entrance into auto refinance.
2015 & recent loan quality – An interesting look at recent loan performance of Lending Club loans.