Marketplace Lending News Roundup – April 22


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.

Weekly Industry Update: A Comparison of Funding & Liquidity Sources from PeerIQ – This week PeerIQ digs into the non-bank lenders funding mix and liquidity sources.

Ex-Barclays CEO Antony Jenkins: We’re ‘beginning to see some Uber moments’ in finance from Business Insider – Antony Jenkins, ex-CEO of Barclays, on the rapid changes he predicted would happen in finance.

Personal loan applications surge as credit cards wane from The Sydney Morning Herald – Down under consumers are opting for more personal loans over credit cards.

Online lender SoFi has a new $105 million fund for yield-hungry investors from CNBC – The SoFi Prime Income Fund is a new $105M fund the company just launched.

P2P-Banking Launches Database to Enable Investors to Compare IFISA Providers Easily from P2P-Banking – There are many IFISA providers in the UK now, P2P-Banking has created a comparison database for investors.

Updated Orchard Index Points to Needed Improvements for U.S. Consumer Online Lending from Orchard – A must read from Bill Ullman of Orchard on past returns and what the industry needs to focus on in 2017.

Lloyds Bank tests biometric authentication from Microsoft from Computer Weekly – Lloyds Bank is running a pilot with Microsoft to allow fingerprint or facial recognition for online account access.

China’s Ant Financial targets brand boost in SEAsia with helloPay deal from Reuters – Ant Financial is going to rule the world one day. They just acquired another firm in Singapore.

Fintech challenger Revolut to take on mortgages from AltFi – Fresh off an announcement with Lending Works, Revolut is now partnering with online mortgage broker Trussle.

ApplePie Acquires Funding Solutions, Appoints Chief Development Officer from Monitor Daily – SME franchise lender ApplePie has made their first acquisition – a franchise lending consultancy firm.

Robo-Adviser Wants to Lend You Money, Not Just Manage It from Bloomberg – Interesting move from Wealthfront offering loans to customers with > $100K invested.

AliPay, WeChat Processed $3 Trillion in 2016 from Bank Innovation – Alipay and Wechat processed $3T in transactions in 2016, 17% of all retail transactions in China.

Alien Knowledge When Machines Justify Knowledge from Backchannel – It’s a long read but also a great way to understand the promise of machine learning and why its time is now.

Why advisers should consider P2P from Financial Times – The financial advisor market has proven tough to crack for p2p lending in the US as well as the UK.

BondMason is first P2P provider to launch a SIPP product from AltFi – The UK gets their first p2p lending pension investment with the launch of the new BondMason SIPP.

Mastercard adds fingerprint sensors to payment cards from Engadget – The future is coming fast. Mastercard is testing a card with fingerprint sensors.

17 fintech businesses that could one day be worth over $1 billion from Business Insider – There are many promising European companies in fintech, some of which will be worth $1B one day. Here is one such list.

MoneyLion focusing on customer relationship from Bankless Times – MoneyLion is quietly becoming a leader in the online lending space.

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.

When will LC next raise rates? – An investor polls the forum on when they think Lending Club will raise rates.

So now it seems the Folio Loans have finally started to dry up…. – Investors discuss loan availability on the secondary market.

LC Loan Issuance by Quarter – An investor shares a chart on loan issuance by grade over time.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media 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.