Peer to Peer Lending News Roundup – October 25, 2014

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.

This was one of the busiest weeks of p2p lending news for quite some time. We had the Lending Club, Orchard and CommonBond news that I covered earlier this week. In addition to that we had the announcement that the former CEO of Pimco, Mohamed El-Erian, has invested n a new p2p lending startup called Payoff (yet to launch); one of the UK’s largest banks is starting a p2p lending platform and a new partnership was announced between Funding Circle and PwC.

Mohamed El-Erian backs peer-to-peer lender Payoff from the Financial Times – Tracy Alloway gives us another important scoop for the industry.

Royal Bank of Scotland to enter P2P lending market from the Financial Times – RBS is the first major bank to take on the p2p lending platforms directly.

PWC & Funding Circle form UK Partnership from Crowdfund Insider – PwC (formerly PricewaterhouseCoopers), one of the Big Four accounting firms, has signed an agreement with Funding Circle that will funnel small business clients to them.

Consumer Credit Trends Q3 2014 – LendingClub Edition from Orchard – Digging in to the Lending Club loan book Orchard discovers that the new loan vintages, from 2013 and Q1 2014, are performing better than all previous years.

Prosper president sees marketplace lenders one day offering insurance from San Francisco Business Times – While it does not seem to be on Prosper’s near term agenda, president Ron Suber sees insurance as a potential future product for p2p lending platforms.

GUESS WHO’S INVESTING IN P2P LENDING from PYMNTS.com – More on the Mohamed El-Erian story.

LendingClub IPO Warning Issued By Dick Bove from ValueWalk – Not everyone is bullish on the Lending Club IPO.

Industry Profile – Peter Renton from Orchard – My profile on the Orchard blog.

Blue Elephant Capital Management to lend US$50 mln through P2P lender Harmoney over 2 years from Interest.co.nz – New Zealand platform Harmoney gets a large investment from a US fund company.

The AltFi Frontline: Questions That Need Answering from AltFi – Digging into some of the important industry questions right now.

My Personal Lending Club & Prosper Filters from LendingMemo – Simon shares the filters he uses to invest and why this concept is still important.

What Investors Should Know About Lending Club’s New REST API from Peer & Social Lending – A look at the new Lending Club API and why it is good for investors.

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.

LC – city being removed from loan listings – A discussion of the change at Lending Club this week that removes borrower city and replaces with the first three digits of the zip code.

Lending Club IPO for retail investors – Will you consider buying shares in the upcoming Lending Club IPO?

Prosper Loan Volume by State – How to find out loan volume by state on Prosper.

  • 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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