Marketplace Lending News Roundup – July 28


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.

A Conversation with Figure’s Mike Cagney from The Financial Revolutionist – Interesting Q&A with Mike Cagney on Figure, his new startup, and Provenance, his new blockchain protocol.

Lowest Jobless Claims since 1969, Strong Bank and Card Issuer Earnings from PeerIQ – This week’s PeerIQ newsletter does a deep dive on the Deloitte/LendIt cost of funding survey.

Collapse of Chinese peer-to-peer lenders sparks investor flight from Financial Times – The Chinese p2p lending industry is having serious issues right now with hundreds of platforms failing in 2018.

Home loans turned us into a hot property, says Christian Faes, founder of LendInvest from The Times – Great interview with Christian Faes on the early days of LendInvest in The Times of London.

Poorer Americans buckling as U.S. economy booms from Reuters – Interesting piece from Reuters today on the increasing challenges facing lower income Americans today.

Americans are splurging on personal loans thanks to fintech startups from Quartz – More on the TransUnion personal loan data that has been making the rounds. One new interesting fact, 6% of Americans have a personal loan, 60% carry a credit card balance. Lots of room for growth.

Code names and flowers: Rabobank’s novel approach to protecting customer data from American Banker – This is an interesting response to the increased need for data security. Rabobank is replacing real customer names with Latin flower names and addresses with Latin animals.

Ebay to add support for Apple Pay, partners with Square Capital on seller financing from TechCrunch – Square continues to build up its small business lending operation. Today, we learn that they have signed a deal with eBay to provide loans of up to $100,000 to sellers.

Revealed: Revolut plans to bring consumer loans in-house from AltFi – Leading UK fintech platform Revolut looks to bring its consumer lending program in house.

Amazon, PayPal & EBay Expand Lending Options from P2P Lending Expert – A look at the recent moves into lending from Amazon, PayPal and eBay.

The digital banking paradox from bluenotes – Interesting perspective on the future of digital banking from a writer working at one of the big four Australian banks.

EBay’s Apple, Square pacts could strangle community banks from American Banker – Interesting take on the impact on community banks of the eBay decision to partner with Apple Pay and Square Capital.

Pollen Street Capital to fund Esme loans from AltFi – Here is an example of a bank subsidiary in the UK taking on an outside investor to fund its small business loans. A sign of things to come?

FCA unveils plans to improve disclosure and tackle risk in P2P sector from P2P Finance News – The long awaited report from the FCA is out on its planned regulatory changes and it aims to improve investor protections in the UK.

In Second Act, a Silicon Valley CEO Opens Up About Affairs from The Wall Street Journal – Interesting piece about @mcagney, the former CEO of @SoFi, who opens up to @rudegeair about the actions that led to his resignation and what he has learned.

1,000,000 Loans and Counting… from Prosper – Prosper has now issued more than 1,000,000 loans totaling around $13 billion.

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.

IRA Notes sold- what next? – Forum members discuss maintenance fees on IRA accounts with LendingClub.

Don’t Just Auto Invest – Proving Systematic Bias at LendingClub – A forum member shares an article they wrote on the performance of LendingClub loans based on several filters.

LC What’s working these days? – Investors talk about how they are currently investing on LendingClub and other marketplace lending platforms.

  • 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.