Marketplace Lending News Roundup – October 22

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.

How OCC Will Assess Fintech Firms for Charter from American Banker – Interesting Q&A with the general counsel of the OCC on the potential new fintech charter.

Weekly Industry Update: October 16, 2016 from PeerIQ – As always the PeerIQ newsletter is a great summary of the past week.

Chinese Peer-to-Peer Lender Ppdai.com Plans U.S. IPO from The Wall Street Journal – Another Chinese p2p lending platform is looking to do an IPO in the US.

SoFi going global, targets Asia and Europe from AltFi News – Looks like SoFi is eyeing expansion beyond the USA with Asia and Europe in its sights.

Hanwha Life Insurance acquires 4.1% stake in U.S. Lending Club from Pulse – A South Korean life insurance company has been buying shares in Lending Club since June, now owns 4.1%.

Prosper Performance Update: September 2016 from Prosper – The monthly performance update from Prosper shows average estimated returns still above 7%.

Tighter credit market provides opportunity for P2P from Peer2Peer Finance News – Across the EU banks are looking to tighten business lending. Good news for p2p lending platforms there.

Goldman Sachs now wants to lend you money — here’s why from Business Insider – In Goldman Sachs’ Q3 earnings call this week their CFO said that Marcus has booked its first consumer loan.

SoFi, an Online Lender, Is Looking for a Relationship from The New York Times – Fascinating article about SoFi and why they are the leading US fintech company today.

A Glimpse into Square Capital’s Marketing from deBanked – Sean Murray shares the details of a direct mail piece he received from Square Capital.

Online Lenders Seek to Shape Industry Before Regulators Do from The New York Times – Good piece on the two new online lending associations taking shape today.

FDIC: Unbanked households at record low from USAToday – The percentage of households without a bank account fell to 7% last year, an all time low.

Orchard forms data analytics partnership with OnDeck from AltFi Data – Orchard is now partnering with OnDeck who will be using their Orchard for Originators toolset.

The bank of the future will be invisible – KPMG from Finextra – In a new report KPMG says the bank of the future will be primarily a virtual assistant.

CommonBond Receives A1 Moody’s Rating on $168 Million Securitization from Crowdfund Insider – In their third securitization CommonBond received an A1 rating from Moody’s.

Led By Student Loans, Marketplace Lending Securitization Volume Soars from Forbes – The one bright spot this year for marketplace lenders has been the securitization market.

Credit Spreads and Marketplace Lending from Thoughtful Finance – Interesting piece on the interest rates and investor demand for marketplace lending.

  • 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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