Marketplace Lending News Roundup – February 13, 2016


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.

Credit Performance Update from Lending Club Blog – LendingClub provides some color on their recent credit performance.

Orchard Platform Super Loan Bowl II: We Predict the Winner from Orchard – The Super Loan Bowl II from Orchard. Happy to see that in lending as in football Colorado comes out on top.

RateSetter unveils details of the first innovative finance Isa but is it enough to tempt you to put peer-to-peer in your tax-free savings? from This is Money – In the UK RateSetter is the first out with details of their new ISA offerings (when they get approved).

What SoFi’s baffling Super Bowl ad tells us about our unequal economy from Fusion – Great analysis of the SoFi Superbowl ad by Felix Salmon.

What Does Financial Wellness Mean in the U.S.? from Prosper – Prosper has done a study on financial wellness with some interesting findings.

Britain’s ex-regulation chief thinks fintech P2P lending losses are going to be huge from Business Insider – The former top finance regulator, Adair Turner, in the UK is very bearish on the future of p2p lending. Let’s hope he is wrong.

Hey, Adair Turner: It may be the new kid on the block, but peer-to-peer lending is more transparent than other financial products from City A.M. – Excellent rebuke from Christine Farnish of the UK P2PFA on Adair Turner’s negative comments.

Lemonade: World’s First Peer-to-Peer Insurance Platform Receives Backing from Lloyds & Berkshire Hathaway from Crowdfund Insider – Is this the next big idea? Lemonade is the world’s first peer to peer insurance platform.

Fintech Fireside: Fintech Predictions for 2016, With Peter Renton [Video] from Credibly – My final fireside chat with Glenn Goldman of Credibly is about predictions for 2016.

CFPB Presses Banks, Credit Unions to Offer ‘Small-Dollar Loans’ from The Wall Street Journal – The CFPB wants banks to offer small dollar loans. They will need help to make that a reality.

AltFi Australasia Summit 2016 from AltFi – Looking forward to speaking at the AltFi Australasian Summit in my home town in a couple of weeks.

Future of Banking: Alternative lending is going mainstream. So now what? from Accenture – “Like it or not, alternative lending is part of the future of banking” says David Edmondson of Accenture.

East Coast Credit Fund to Invest $250 Million Across Patch of Land Real Estate Platform from BusinessWire – Congrats to Patch Of Land for their huge $250M funding commitment (press release).

Coming soon – Zopa’s Innovative Finance ISA from Zopa – The Innovative Finance ISA is coming soon to the UK. Zopa explains why this is good for investors.

Prosper Unveils New Look from Prosper – Prosper has a new logo and a new, more modern looking website.

Harmoney has $30 mln on hand as it steps up Australia launch from Scoop – New Zealand p2p lending platform Harmoney is gearing up for an Australian launch later this year.

Lending Club Reaches $16 Billion from Lending Club – Interesting infographic from Lending Club showing their journey to $16B in loans.

American Express looks to grow small business loan revenue from Reuters – Great deal for Fundera with AmEx paying them to feature their charge cards on the small business loan marketplace.

Inside the Beltway: CFPB Hot Topics in 2016 from Experian – Check out this webinar next week by Experian on CFPB and changing regulatory environment.

Peer-to-peer platforms race to obtain authorisation before Isa season from the FT – These are interesting times for UK p2p lending platforms as they seek FCA approval before ISA season.

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.

What TERM loan do you invest in? – Forum members surface an old thread and discuss whether they prefer to invest in 36 or 60 month loans.

7 year LC investor here, looking for other old timers – Long time investors in Lending Club share their experiences.

Worst Month Yet – Investors discuss and compare their recent portfolio performance.

  • Peter Renton

    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. 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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