Ron Suber, President of Prosper Marketplace, presented at the Fall AltFi conference in Manhattan yesterday and delivered a keynote address on the status of marketplace lending.
Now most industry observers know that the online lending industry was hit with a one-two punch this year. As the economy sent mixed signals regarding a weak recovery the former CEO of Lending Club resigned under a cloud of questions. Fickle institutional capital ran for the exits leaving online lenders gasping for funding channels. Meanwhile demand for credit remained strong.
Suber, a staunch industry advocate and regular on the alternative finance conference circuit, explained to the audience what the marketplace lending industry must do to get it right. Suber stated;
“It’s not just about origination growth. It’s about building companies that last.”
Suber affirmed that online lending is regaining its footing. Public valuations are recovering, loan volumes are increasing and new channels of funding are being established. He also stated there is “no silver bullet” for success. It is all about execution.
Suber told Crowdfund Insider;
“You can’t keep people and institutions away from quality yield given the insatiable demand for return around the world….investors are coming back to the right platforms along with re-engagement from many new global capital sources …Victory goes to the ones who adjust best.”
The presentation on Marketplace Lending is embedded below.
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