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.
Under Noto, SoFi Trying to Raise Money for Deals from The Wall Street Journal – Interesting piece about SoFi. They have a new head of M&A and so appear to be on the lookout for acquisitions. And it looks like late 2019 is the earliest date for a possible IPO.
Three Is A Magic Number from The FinTech Junkie – The latest from Frank Rotman introduces us to the perfect business model and the business trinity of product, pricing and channel.
Personal Loans Surge to a Record High from Bloomberg – Interesting piece on Bloomberg about the personal loan market. It is booming and online lending platforms made 36% of all loans in 2017 as compared to less than 1% in 2010.
Open Banking – a complete failure? from Chris Skinner’s Blog – When it comes to open banking Chris Skinner takes a look at why, after six months, no consumer facing service using publicly available APIs has been implemented.
Square quietly withdraws bank application from American Banker – Square has pulled its banking charter application with the FDIC, although its Utah application remains active. Looks to be just a temporary setback on Square’s journey to obtaining a banking license.
PayPal Closes On Its Deal With Synchrony from PYMNTS.com – Synchrony has paid PayPal $7.6 billion for its consumer lending portfolio and the companies also agreed to a 10-year deal for future financing of PayPal customers.
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.