Peer to Peer Lending News Roundup – August 3, 2013

During the week I share the latest p2p 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.

Think tank: Peer-to-peer lender’s bank talks spark controversy from The Telegraph (UK) – Funding Circle is in talks with the large Spanish bank Santander to allow them to invest on their platform. I think this is a natural evolution for Funding Circle.

Credit Variables Explained – Borrower Geography from Orchard – A look at the differences in loan volume and default rates between the states.

Consumers misunderstand peer-to-peer lending, shows survey from Financial Reporter – In this survey by UK peer to peer lender Assetz Capital only 20% of consumers had actually heard of peer to peer lending.

The Digital Skeptic: Lending Club Data Raises a Default Question from The Street – A not so flattering piece about Lending Club returns.

 Lending Club Co-founder Established Shanghai-based P2P Funding Service Dianrong from TechNode – Soul Htite was a co-founder at Lending Club and is now trying to create the new Lending Club of China.

Peer-to-Peer Lending Likely to Continue its March Into the Mainstream from Huffington Post UK – I like the beginning sentence here: Peer-to-peer lending is one of the most exciting developments of recent modern finance.

The 6% Bank Yield from Nasdaq – No, you cannot earn 6% at any bank in this country … but we all know a place where you can do even better than that.

Beat the banks: Peer-to-peer loans encouraging borrowers to ditch rubbish rates from the Mirror (UK) – A broad view of the p2p lending marketplace in the UK.

P2P Lending Volumes in July 2013 from Wiseclerk – Great table showing the growth of the major p2p platforms in the U.S. and Europe.

Former Wells Fargo CEO Dick Kovacevich backs peer-to-peer lender Daric from San Francisco Business Times – A look at Daric, the new kid on the p2p lending block.

Why P2P Lending Is Amazing: The Fertile Fields of Consumer Credit from LendingMemo – This article encapsulates why I got so excited about p2p lending when I discovered it back in 2009.

Revenge of the nerds from The Economist – Banking is being disrupted for the better by a new, younger generation of entrepreneurs.

July Update from President, Aaron Vermut from Prosper – News from inside Prosper including this interesting tidbit that Prosper is moving away from Experian to the FICO credit scoring system.

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.

Four clicks required to invest? – Speed is of the essence these days for investors – is there a way to speed up the process at Lending Club?

Should I sell this 30+ day late note? – Comments from lenders about pricing of notes that get more seriously late.

The thread for unashamed griping – If you have some complaints join the conversation here. Still a very popular thread with 125+ comments.

  • 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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