Marketplace Lending News Roundup – April 7


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.

China’s P2P lenders brace for renewed regulatory crackdown from Financial Times – In China a new round of regulations are coming in June that will cause yet more disruption in the p2p lending industry there.

How Credit Karma is using data to become a central finance hub from Tearsheet – Last month Credit Karma acquired personal finance startup Penny to roll out a chatbot for its 80 million customers.

US GDP revised upwards, Citi’s Digital Bank takes on Marcus, PeerIQ’s Credit Facility Management Suite from PeerIQ – This week the PeerIQ newsletter introduces their new credit facility management suite, the growth of digital banking and more.

Funding Circle Expands U.S. Operations with New Office in Denver from PR Newswire – As a Denver resident I was pleased to hear today that Funding Circle has chosen Denver as their second major office in the US. Good move.

International P2P Lending Volumes March 2018 from P2P-Banking – The European p2p lending loan volumes are out and Funding Circle continues to dominate the market there as by far the largest P2P lender.

LendingClub settles with Mass. banking regulator for $2M from American Banker – On the legal front LendingClub continues to work through their legacy issues settling with the MA bank regulator.

Why It’s No Surprise That Online Lender GreenSky Would Weigh An IPO from Forbes – More on the possible GreenSky IPO from the only publication to have done an in depth feature on the company.

SoFi Issues Record $2.6 Billion in ABS Notes During the First Quarter of 2018 from Crowdfund Insider – When it comes to securitization the clear leader in online lending continues to be SoFi. They did $2.6B in deals in Q1.

dv01’S Q1 Securitization Volume Tops $2.58B, Encompassing Nine Deals From Six Originators from dv01 – Another strong quarter for marketplace lending securitizations. dv01 shares their scorecard.

Credit bureaus aren’t going anywhere. For now from American Banker – Interesting piece by Penny Crosman on the future of credit bureaus and why they will maintain in integral part of financial services for the foreseeable future.

PeerStreet Marketplace for Real-Estate Loans Grabs $29.5 Million from The Wall Street Journal – Four days from LendIt Fintech and the big announcements are starting to flow. Today, PeerStreet have announced a big $29.5M Series B financing.

Not just dumb pipes: Fintech investment slows as banks try to gain back control from Tearsheet – Banks have been developing more of their new technology in house which means fewer investments in fintech companies.

Will fintech realize its potential for financial inclusion? from LinkedIn – The CEO of Accion writes that while fintech has certainly improved access to credit for the underbanked in the past several years much more needs to be done.

SoFi Plans to Start Rolling Out Deposit Accounts Next Month from Bloomberg – We knew it was coming but it looks like SoFi is going to start offering deposits and debit cards to some customers next month.

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.

Seven month review of my Lending Club account – A newer investor provides an update on their LendingClub account after seven months.

Account Liquidation- How did you get the last of your notes to sell? – Forum members share their experience of selling off a portfolio of loans.

LC loan performance not getting better – One forum member provides an analysis on loan performance at LendingClub and discusses whether or not performance is improving.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, 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.