Archives

March 10, 2021 @ 4:34 pm By JD Alois  |  

LendingClub (NYSE: LC), an online lender and nascent digital bank, has announced financial results for Q4 2020 and the full year ending December. According to a release, LendingClub’s adjusted net loss was $(22.1) million in the fourth quarter, compared to adjusted net income of $7.0… Read More

March 9, 2021 @ 10:31 pm By Omar Faridi  |  

LendingClub (NYSE:LC) notes that if you’ve been struggling to make ends meet, then you are definitely not alone. Amid the ongoing COVID-19 pandemic, nearly 30 million US residents are still facing unemployment, which has compounded existing struggles for workers who may have been living paycheck-to-paycheck… Read More

February 21, 2021 @ 8:37 pm By Omar Faridi  |  

LendingClub (NYSE:LC) notes that married couples who manage their finances together are (usually) more likely to say they’re in “a happy, stable partnership,” according to a research study carried out by the University of Arizona. However, a LendingClub member survey has revealed that almost 70%… Read More

February 2, 2021 @ 8:57 am By JD Alois  |  

LendingClub (NYSE:LC) just closed on the acquisition of Radius Bancorp as it morphs from an online lender to a full-stack digital bank. Today, a shelf registration statement has popped up outlining the terms of the deal that reveals the shares-cash purchase price. LendingClub previously disclosed… Read More

February 1, 2021 @ 8:49 am By JD Alois  |  

LendingClub (NYSE:LC) has completed the acquisition of Radius Bancorp, according to a public release. Scott Sanborn, CEO of LendingClub, issued the following statement: “This is a historic day for LendingClub and a true watershed moment for the industry. The move to digital-first banking is accelerating,… Read More

January 19, 2021 @ 8:20 am By JD Alois  |  

LendingClub (NYSE:LC) says it has now received all the bank regulatory approvals necessary to complete its acquisition of digital bank Radius Bancorp. LendingClub said the deal should close on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions. At… Read More

December 15, 2020 @ 6:04 pm By JD Alois  |  

LendingClub (NYSE:LC) has published a blog post reflecting on platform performance and hope for the forthcoming new year as we turn the corner on past months that have been dominated by an ongoing health crisis. LendingClub was hammered by COVID-19, like many online lenders, seeing… Read More

December 14, 2020 @ 8:09 pm By JD Alois  |  

LendingClub (NYSE: LC) has received a nice recognition from the Salt Lake Tribune. A relatively recent presence in Utah, LendingClub has been rccognized as a Top Workplace for 2020. According to a note from LendingClub,  the list is based solely on employee feedback gathered through… Read More

November 23, 2020 @ 5:19 pm By JD Alois  |  

LendingClub (NYSE:LC) shares hit a six-month high today rising over 9% to close at $7.48 each. The strong performance came on day when markets were slightly green overall but alongside no news for the Fintech. LendingClub has not traded above this level since last April…. Read More

November 4, 2020 @ 6:17 pm By JD Alois  |  

LendingClub Corporation (NYSE: LC) has announced its Q3 results for the period ending September 30, 2020. LendingClub, a leading online lender, has been battered by the ongoing COVID-19 health crisis but is reporting a bounce back in loan originations. According to the earnings report, loan… Read More

October 7, 2020 @ 8:01 am By JD Alois  |  

Closing an Important Chapter LendingClub (NYSE:LC), the leading marketplace lender in the US, has filed an 8-K with the Securities and Exchange Commission stating it will cease offering Retail Notes as of the end of 2020. In an email distributed to LendingClub retail investors, the… Read More

September 22, 2020 @ 9:51 pm By JD Alois  |  

LendingClub (NYSE:LC), a top marketplace lender serving consumers, says two recent studies indicate that personal loan payments take priority over paying off credit cards. Of course, this is good news for LendingClub – a long time advocate of cheaper personal loans versus expensive credit card… Read More

September 6, 2020 @ 3:17 pm By Ram Alagianambi, Arun Sikka, Janna Goldberg and Louis Caditz-Peck  |  

Expand your business’ impact by designing smarter products that benefit customers Building great financial products should follow the same basic rules as building any other solid products. However, this post will go beyond the basics and discuss how we can build financial products to improve… Read More

August 28, 2020 @ 12:15 pm By Ram Alagianambi and Arun Sikka  |  

How might hyper-personalization improve your products? Behavioral economics is the field of study which acknowledges that people are irrational beings; as explained by economist Richard Thaler in his book, Misbehaving, humans don’t behave the same way as theoretical decision-makers he calls ‘Econs’, who always make… Read More

August 19, 2020 @ 4:33 pm By JD Alois  |  

LendingClub (NYSE:LC) is the leading online consumer lender in the US and the first big Fintech lender to go public on the NYSE. Over $50 billion in lending has been originated on the platform that claims more than 3 million customers. The last few years… Read More

August 4, 2020 @ 4:36 pm By JD Alois  |  

LendingClub (NYSE:LC) is out with Q2 earnings and, as anticipated, COVID-19 has hit the online lender hard. According to the company, during the quarter loan originations came in at $325.8 million, down 90% year-over-year. LendingClub’s net revenue during the quarter was down 77% year over… Read More

May 28, 2020 @ 9:18 am By JD Alois  |  

  LendingClub (NYSE:LC), an online lending marketplace and emerging digital bank, has announced the launch of the “Member Center,” a centralized location for users to find assistance and support to better manage their financial lives during the COVID-19 crisis. Early one, when the Coronavirus first… Read More

May 5, 2020 @ 4:44 pm By JD Alois  |  

LendingClub (NYSE: LC) is out with its first-quarter earnings report and the numbers are indicative of the problematic economy that has been crushed by the Coronavirus pandemic. LendingClub, the leading marketplace lender in the US, delivered numbers that showed a significant decline versus the same… Read More

April 22, 2020 @ 3:57 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the news that LendingClub (NYSE:LC), the largest Fintech consumer lender in the US, was furloughing and eliminating jobs due to the COVID-19 pandemic. The crisis has apparently driven the elimination of 471 individual jobs. Shockingly, LendingClub’s President saw his position eliminated…. Read More

April 21, 2020 @ 4:48 pm By JD Alois  |  

In a somewhat shocking but not unexpected move, LendingClub (NYSE:LC) has announced a round of layoffs and furloughs today as the COVID-19 pandemic has hit the Fintech hard. In brief, loan originations for the mainly consumer lender, have tanked requiring the Fintech to reposition itself… Read More