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.
LendingTree is the secret success story of fintech from TechCrunch – In depth profile of LendingTree and why they are a central player in the growth of fintech.
Intro to Stress-Testing; Varo Money Bank Charter; Funding Circle IPO from PeerIQ – The latest industry news from PeerIQ and also a deep dive into loan portfolio stress testing.
Funding Circle confirms more details of IPO from Peer2Peer Finance News – The upcoming Funding Circle IPO will allow for participation from individual investors.
Lending Club CEO: US’s and China’s P2P lending need clearer regulation and communication from TechNode – Comments from Scott Sanborn of LendingClub in China about fintech regulatory frameworks, investor sophistication and more.
Bezos and Gates back Wagestream’s £4.5m funding round from BankingTech – In the UK Wagestream is helping workers get access to their wages in real time. They just raised £4.5 million from some big names.
PeerStreet wants to put some liquidity back in your debt portfolio from HousingWire – Real estate platform PeerStreet now offers investment terms ranging from 30 days to 3 years.
U.S. Bank returns to small-dollar lending. Will others follow? from American Banker – The fifth largest US bank will soon be offering small loans under $1,000 with 3 month term. This is what the OCC has been pushing for.
‘If you get to 700, 750, we’ll cut your mortgage costs a little bit’: JPMorgan is working on ways to reward you for improving your credit score, and it may be the future of consumer finance from Business Insider – JPMorgan Chase wants to help motivate people to improve their financial health. This may include real financial rewards like a reduced mortgage payment for an increasing credit score.
As regulators circle, China’s fintech giants put the emphasis on tech from The Economist – We saw this at LendIt China last week. In China they want fintech to become techfin as the tech companies lead the way into financial services.
‘Fintech Charter’ Has No Early Takers as Lawsuit Looms from The Wall Street Journal – With a lawsuit from the CSBS looming (no surprise there) and uncertainty about what the OCC fintech charter will allow it is understandable that no company has applied yet.
Barclays app lets customers see accounts from other providers from Finextra – In a real open banking development in the UK Barclays has introduced a feature in its own mobile app that let’s customers view the accounts from several other banks.
Loans processing for just thirty cents per application (thank you coders!) from Chris Skinner’s Blog – Chris Skinner talks about the sophistication in mobile bank lending in China on his trip to Shanghai last week for LendIt Fintech China.
Here’s what the CFPB’s sandbox should look like from American Banker – Super interesting op-ed by Dan Quan, a long time leader at the CFPB and champion of innovation there. He left the Bureau in July.
Monzo: When is a bank not a bank? from Financial Times – In the UK one of the largest and most promising digital banks is Monzo. Great profile in the Financial Times on what makes them different.
The Fintech Banks Are Coming: Why You Should Care from Forbes – Consumers are about to have a lot more (and better) choices when it comes to banking.
Bremer Bank to deploy new tech to offer quick, online loans to farmers from American Banker – Now farmers will have their own online lending solution tailored just for them.
N.Y. state refiles suit to block OCC’s ‘reckless’ fintech charter from American Banker – Not to be outdone by the Conference of State Bank Supervisors the New York Department of Financial Services has filed its own suit against the OCC to try to stop the fintech charter.
One unintended consequence of Lehman collapse: The birth of a new kind of bank from CNBC – After the Lehman collapse many employees went on to start businesses, some of which are digital banking leaders today.
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.
Experiences with Automated Account Liquidation? – An investor asks about tools that aid in selling LendingClub notes.
Folio YTM – While some investors have calculated YTM they have not been able to match LendingClub’s numbers exactly.
Thought this was interesting – One investor who has had a LendingClub account since 2009 shares their investment strategy and account performance.