Marketplace Lending News Roundup – September 2

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’s bid for deposit insurance draws fire from top House Democrat from American Banker – The SoFi application for a banking license remains controversial in Washington.

Weekly Industry Update: FinTech Partnerships Continue; Debate on Regulatory Reform from PeerIQ – This week PeerIQ looks at regulatory reform and the new ways banks are acting as intermediaries.

Prosper Performance Update: July 2017 from Prosper – The Prosper monthly performance numbers for July are out.

Amazon is a threat to banks — just not in the way you think from Tearsheet – Interesting look at Amazon’s technology platform and its impact on financial services.

Rumor: Online Lender Float Has Shut Down from Crowdfund Insider – Looks like Float, a small dollar online lending platform, has shut down.

3Q 2017 PitchBook Fintech Analyst Note: Marketplace Lending from PitchBook – This PitchBook report on marketplace lending says that equity investment YTD is already above all of 2016.

Ford, MCA Funders Take Pages from Tech-Based Underwriting from deBanked – Machine learning is becoming the key foundation for advanced underwriting today.

Adapt, Automate, Accelerate: AI and the Future of SME Lending from Let’s Talk Payments – AI is impacting all of financial services including small business lending.

Digitalization Among Factors Pushing Millennial Credit Preferences Toward Auto and Personal Loans from Globe Newswire – A study of millennials by TransUnion found that credit card usage is slowing and personal loan demand is increasing.

FinTechs Give Banks A Wake-Up Call With Loan Disbursements from PYMNTS.com – Small business owners have more and better loan choices than ever before with fintech companies taking the lead.

Funding Circle kicks off £12m marketing drive to become first choice for SMEs from Peer2Peer Finance News – The first big marketing campaign for a p2p lending platform, Funding Circle is spending £12m.

Upgrade Loans In-Depth Review – Read This Before Applying for an Upgrade Loan from SuperMoney – A detailed review of the Upgrade loan application process.

Blockchain solution aims to stop trade invoice fraud from Global Trade Review – Interesting blockchain based solution to combating invoice finance fraud.

Credibly Acquires Servicing Rights to BizFi’s $250M Portfolio from SmallBusinessLending.io – With Bizfi out of business Credibly is servicing their $250M loan book.

Orchard Research Brief: Historical CPR and CDR Curve Construction from Orchard – For the mathematically inclined Orchard has released a new report showing prepayment and default curves.

OnDeck Celebrates 10 Years Of Lending Innovation from OnDeck – Congrats to Noah Breslow and the team at OnDeck on their 10th birthday.

Upstart Issues $1 Billion in Loans from Upstart – A big milestone for Upstart. They have now issued $1 billion in loans. Congrats to Dave Girouard and the team.

Ford Motor Credit tests AI’s ability to spot overlooked borrowers from American Banker – Ford Credit is working with ZestFinance to expand their credit box. So far the tests are promising.

Has the marketplace lending sector fully recovered in the USA? from AltFi – My guest post on AltFi about whether or not the marketplace lending industry has recovered in this country.

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.

Best way to measure true return? – Understanding how to calculate returns is important for new retail investors.

Borrower Fraud – Investors discuss “straight rollers” who are individuals that take out a loan with no intention of repaying it.

5 Key Things to Know About Investing at LendingClub – Forum members discuss the future of retail investors and interest rates on Lending Club’s platform.

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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