Marketplace Lending News Roundup – September 10, 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.

U.K. Fintech Firm LendInvest Looks To Double Down After Brexit Vote from The Wall Street Journal – Leading UK p2p lending platform LendInvest is looking to expand.

KKR: Alternative credit set to be “star performing” asset class from AltFi – KKR is looking to increase their stake in alternative credit including online lending platforms.

EXCLUSIVE: FCA circles on P2P platforms with September ‘business model’ inspections from AltFi – This is big news for UK p2p lending platforms. The FCA will come calling in September.

Fixed rate loans boost peer-to-peer lending from RTE News – In Ireland LinkedFinance has switched from the auction model to the fixed price model. Good move in my opinion.

How to Assess Borrowers’ Stability with No Credit Information from Finance Magnates – I am a big fan of the Israeli company BLender – here is a Q&A with their CEO.

NEW – Weekly Online Lending Snapshot from Orchard – Orchard introduces their Weekly Online Lending Snapshot tracking important data points for our industry.

Marketplace lending comes of age: Navigating the new regulatory and risk environment in online marketplace lending from PwC – Roberto Hernandez and the PwC team have released a white paper on navigating the new risks of marketplace lending.

SoFi Looks to Raise $500 Million in Latest Test for Fintech from The Wall Street Journal – SoFi is one of the few companies in our industry that is crushing it this year. Showing solid growth.

Online Retailers Are Proof of Marketplace Lending’s Sustainability from American Banker – Consumer behavior is changing fast, it is impacting lending and retailing in a similar way.

Funding Circle ‘basically halved’ US lending volumes at the start of the year from Business Insider – The Chief Risk Office of Funding Circle talks about their US loan originations and credit performance.

Lending Club Seeks to Bolster Its Retail Investor Base from American Banker – Lending Club is looking to add to its ranks of 135,000 self-directed retail investors.

Orchard Platform Is Disrupting Financial Services From The Inside Out from Forbes – We have been talking about the need for a secondary market for years. Looks like Orchard is nearly there.

Klarna launches its first credit product with new U.S. partnerships from TechCrunch – I have long been impressed with Swedish company Klarna. Now they are coming to the US with a deal with WebBank.

Ex-Lloyds CEO Joins Board of P2P Lender from Bloomberg – Another heavy hitter is joining the board of Funding Circle – the former CEO of Lloyds.

SoFi Returns with $203M of Consumer Loan ABS from Asset Securitization Report – The next SoFi securitization is out – $203M in unsecured consumer loans with an average FICO of 733.

Don’t Write Off China’s Old Guard from Bloomberg – In China the established financial services players still wield a great deal of power despite the growth of fintech.

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.

Lending Club Website Changes – Lending Club has made some minor changes to the investor experience.

Charged off account SOLD with no reimbursement to me – Investors discuss what happens when a note is bought by a third party debt buyer.

Stoneridge P2P mutual fund (LENDX)  – The forum discusses the first publicly listed fund in the US by Stoneridge.

Worst Month Yet – Investors share recent trends in their p2p lending portfolios.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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