Lending Club has endured some very public challenges this year as we all know. But the company has rebounded from the lows they experienced after the resignation of the founder, Renaud Laplanche, and they are building again for the future. The new CEO, Scott Sanborn, has rebuilt his executive team with many new faces from traditional financial services.
In the latest edition of the Lend Academy Podcast I interviewed the new Lending Club CEO to get his first hand take on where the company is at today. This is his second appearance on the show, the first time being back in April 2014 after he had recently been promoted to Chief Operating Officer.
In this podcast you will learn:
Why Scott decided to join Lending Club back in 2010.
What the mood is like inside Lending Club today.
The keys to winning back investors, especially banks.
What their mix of investors looks like today.
Lending Club’s plans for retail investors.
Scott’s thoughts on Lending Club’s recent loan performance.
Background to what Lending Club has built to help facilitate securitizations.
The kinds of conversations that Scott has been having in Washington DC.
The possible timelines of the SEC and DOJ investigations.
How Lending Club keeps the balance between their whole loan and retail platform.
The status of the new loan product that was going to be released earlier this year.
Scott’s thoughts on the arrival of large banks like Goldman Sachs into the space.
The keys for Lending Club in 2017 to maintain their leadership position in the industry.
There is no transcript available for this episode. Full disclosure: I own Lending Club stock and have been investing in Lending Club loans since 2009.
You can subscribe to the Lend Academy Podcast via iTunes or Stitcher. To listen to this podcast episode there is an audio player directly below or you can download the MP3 file here.
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.