As a thirty year veteran of consumer lending, loanDepot CEO Anthony Hsieh has seen his share of transformative changes; his keynote at LendIt USA 2017 focused on the modern version of consumer lending and how online lenders are only just scratching the surface; while originations have grown each year loanDepot still only accounts for about two percent market share as the second largest non bank consumer lender; he believes online lending is still in the bottom of the first or top of the second inning; non bank mortgage lenders now account for five of the top ten originators, a few years ago only two non bank lenders cracked the top ten; regulations, capital markets and technology have all contributed to the market changing since the crisis of 2008; he also talks about the future of the customer experience and their continued investment in technology. Source
Orchard has a unique perspective on online lending given how close they are both with originators and investors; Matt Burton shares themes from LendIt 2017 and looks back at what has happened over the past few years; Burton believes that many companies are positioned for growth this year with increased institutional investor interest; shares that the industry is still small compared to where it could go and explores what needs to happen in order to "expand the tent"; discusses growth in originations, securitization, partnerships and the expansion of asset classes in the industry. Source
LendIt has announced a list of keynote speakers for LendIt USA 2017 on March 6 and 7; keynote speakers will cover the industry's most important topics and innovations; as fintech regulation and a new presidential administration influence the market, LendIt USA 2017 will also be featuring some of the industry's most influential government officials including Richard Cordray, director of the Consumer Financial Protection Bureau, Thomas Curry, comptroller of the currency for the US Department of the Treasury and Patrick McHenry, US congressman. Source
LendIt has partnered with Sharestates to provide a list of LendIt USA 2017 speakers to follow on Twitter; the list includes over 300 speakers with company and personal twitter handles; you can also follow @LendIt and #LendItUSA for details about the event. Source
Over 50% of Americans can not afford an unexpected expense of $400; at LendIt USA 2017 we hosted a fireside chat focused on helping Americans save; a key area that companies look at is an individual's spending as a way to help change their behavior to save more; round up from the everyday coffee you buy or set goals through your lifestyle; each way can help individuals to better set aside money when needed, as well as invest for the future; technology today allows for companies to better help individuals who thought they were left out of the investment community; the chat also focused on why they believe as a startup they can help to solve the financial inclusion question as opposed to the incumbent banks; the discussion also touched on the future of their businesses, current partnerships with top consumer brands and potential add ons for their current product offerings. Source
Scott Sanborn gave a recap of his LendIt USA 2017 keynote presentation and reiterated his excitement and positive outlook for the marketplace lending industry in a blog post; Sanborn identified three key areas of importance: evolving the customer experience, unleashing the platform potential and amplifying core innovations; with a focus on these three things Lending Club plans to see more borrowers and investors as well as a number of new and innovative partnerships fueling its future business growth. Source
While fintech innovation has greatly evolved in recent years, there is still much more to be accomplished; one area available for significant market growth is financial inclusion; Lend Academy talks about fintech innovation for the underserved bank customer in their article; LendIt will be running a financial inclusion track this year at LendIt USA to help support development of this market opportunity. Source
CreditEase Fintech Investment Fund (CEFIF) announced three investments in new fintech companies at LendIt USA 2017; the investments were a series C round in Trumid, an electronic trading platform for the bond market, series B round in WeConvene, an online corporate access management ERP provider for capital markets, and a seed round in WorldCover, an innovative peer-to-peer insurance network; Anju Patwardhan, senior partner of CEFIF, said: "We believe the Chinese fintech market will continue to grow in 2017 and beyond, as many three to five year-old companies have grown into large-scale operations. We expect many of these to mature into high-quality, mid-to-late stage companies." Source
Lend Academy provides insight and highlights from the event's keynote speakers in their article; day one featured Scott Sanborn from Lending Club as the event's leading keynote speaker and also included three keynote presentations on regulation in the industry from Congressman Patrick McHenry, Comptroller Thomas Curry and CFPB Director Richard Cordray; day two began with Alex Tapscott discussing blockchain and followed with a variety of insights from leading industry innovators; Lend Academy also reports on PitchIt and the LendIt Industry Awards additionally including key takeaways from the event overall; videos from the event will all be published within the next few days and can be found on the LendIt USA 2017 video page. Source