Marketplace Lending News Roundup – September 3, 2016


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: August 28, 2016 from PeerIQ – The latest issue of the PeerIQ newsletter takes an in depth look at the student loan market.

Commerce Commission attempts to establish how the Consumer Finance Act 2003 applies to peer-to-peer lender’s ‘platform fee’; Harmoney ‘disappointed’ with action from – More bad news for Harmoney. The regulators don’t like the way they are charging borrowers.

Square Is Expanding Lending and Payment Services With Two Competitors from Fortune – The fastest growing part of Square’s business is their lending operation up 123% year over year.

Int’l student loan platform to lend $300m this year from The Pie News – Student lending is still hot. Prodigy Finance is on track to triple lending volume this year over last year.

LendIt partners with Capital One to co-host annual fintech start-up competition from Finextra – We are bringing our popular fintech startup competition PitchIt @ LendIt to Europe partnering with CapitalOne.

Startup Wants to Give Chinese Consumers Credit Where It’s Due from Sixth Tone – One of the more interesting startups in China is CashBUS who are trying to expand access to credit.

Is The Future Of Alt-Lending Playing Well With Others? from PYMNTS – Small business lender Fundation is focused on partnering with banks as the path to growth.

How Kabbage knows if it can lend you $100,000 in just seven minutes from – A look inside a Canadian bank partnership with an online lending leader Kabbage and Scotiabank.

P2P Global Investments fund sees NAV bounce for July but falls short of year target return from AltFi – The leading UK publicly traded fund P2PGI is having a rough time lately.

P2P Lending Has Changed My Life Part 1 from P2P Lending Expert – Stu Lustman from P2P Lending Expert talks about how he found out about p2p lending and the impact it has had on his life.

Learn from the experts and earn a CE credit from NSR Invest – The CEO of NSR Invest is hosting a webinar for financial advisors next week with Orion Advisor.

Industry Profile – Denise Thomas from Orchard – Denise Thomas of ApplePie Capital is the latest industry profile on Orchard.

You can now buy airline tickets with monthly payments from CNN – Affirm has begun working with airlines to allow monthly payment plans for plane tickets.

Amazon, Wells Fargo Abruptly End Their Student-Loan Partnership from The Wall Street Journal – It was over before it even really started: the partnership between Wells Fargo and Amazon on student loans.

P2P giant Zopa to cut rates from FT Advisor – After the Bank of England recently cut rates by 0.25% Zopa decides to cut their rates by an average of 0.20%.

International P2P Lending Marketplaces – Loan Volumes August 2016 from Wiseclerk – The international #p2plending loan volumes for August are out with Funding Circle leading the way.

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.

Where did all the loans go? – Investors discuss recent loan availability on Lending Club.

Are LC Grades Completely Random? – The forum looks at two loans to try and better understand how Lending Club prices loans.

Recoveries of Charge-Offs – Many investors chime in on pricing delinquent notes.

LC’s restriction on multiple accounts – One investor has reached the maximum number of accounts that Lending Club allows.

  • 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.