China online consumer finance platform LexinFintech announced it will invest more than $150mn in partnerships over the next three years; the company’s CEO said the investment will focus on co-branded credit cards with financial institutions, expanding services to include more use cases and working on technology cooperation. Source.
Two highly respected fintech companies have formed a strategic partnership to help develop underserved markets; Vervent and Finitive have experience...
Lend Academy shares recent initiatives from Barclays and PNC Financial Services as traditional banks move into the online consumer lending space. Source
I was reading the business section of my Sunday New York Times yesterday (yes, I still get a physical paper...
With coronavirus causing economic havoc around the world lenders find themselves with a very important role to play. Now, I...
Online SMB lenders believe they are in a unique position to help lend to small businesses during these chaotic times;...
UK based online real estate lender LendInvest announced a $328mn securitization deal yesterday which is the second in the last...
LendIt USA 2016 is back with an increased focus on startups in fintech. PitchIt @ LendIt is an unparalleled platform...
UK based Zopa has warned investors that defaults on high risk loans are rising; Zopa increased originations to high risk borrowers in 2016 and introduced their Zopa Core and Zopa Plus Products; the company originally expected default rates for 2016 at 4.14 percent but have revised that number to 4.93 percent; they also raised their estimates for 2017 loans to these borrowers to be 4.86 percent from 4.52 percent. Source.
SoFi’s lending goal in 2017 was to lend more than they had in the previous 5 years combined; the online lender fell 26 percent short of the goal and instead lent out $12.9bn in 2017; the company had seen their share of issues in the last year with sexual misconduct claims and their CEO being forced out; SoFi spokesman Jim Prosser said the true goal for 2017 was closer to $13bn and the higher amount was a stretch goal. Source.