Marketplace Lending News Roundup – September 14, 2019

News

During the week I share the latest marketplace lending and fintech 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.

Challenger banks apply pressure with fee cuts from American Banker – I am a big fan of the anti-overdraft features of the digital challenger banks like Chime and Varo. We are witnessing the beginning of the end of the $35 overdraft fee.

Lendable, Lending Works and Assetz Capital among fastest growing tech firms from Peer2Peer Finance News – The annual Tech Track 100 list is out of the fastest growing UK tech companies with #fintech lenders Lendable, Assetz and Lending Works making the list (they are all speaking later this month at LendIt Fintech Europe).

CFPB moves to ease fintechs’ regulatory fears from American Banker – The CFPB has issued three new policies to promote innovation, removing the threat of legal liability for fintech companies that test products benefiting consumers.

What’s Driving The Digital Banking Boom In Latin America from Crunchbase – Latin America has been one of the major growth markets for digital banking in 2019. The CEO of a LatAm digital bank explains why.

Max Levchin’s Affirm seeks capital amid surge in fintech funding from Techcrunch – The money is still flowing. Now it looks like Affirm is readying a mega round of debt and equity up to $1.5 billion. They just raised $300 million in equity in April.

Digital Banking, With Millennial, Mobile – And Governmental – Tailwinds from PYMNTS – There are several tailwinds in the digital banking space right now. It is a global movement that is seeing new digital challengers rise up to compete with the traditional banks.

Payments giant Stripe debuts a credit card in its latest step into the financing fray from Techcrunch – Last week it was small business lending, this week it is a credit card. Stripe is ramping up its financial services offerings.

California may point the way forward on payroll advances from American Banker – A law professor digs into the new earned wage access law that is making its way through the California legislature and explains why it is a viable replacement for payday loans.

Need Cash? Companies Are Considering Magazine Subscriptions and Phone Bills When Making Loans from The Wall Street Journal – Underwriting models are changing as more alternative data is becoming mainstream.

The brand values of eight of the UK’s biggest banks declined last year — potentially due to neobanks from Business Insider – The brands of eight of the largest banks in the UK — including HSBC and Barclays — declined by an average of 7% over the last year.

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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