Tagged: online lending

Payoff Partners with Alliant Credit Union

Payoff has formed a partnership with Chicago-based Alliant Credit Union to help consumers eliminate high interest rate credit card debt. Payoff is an online consumer lender that claims some pretty high profile investors including; Anthemis Group, Tencent, Mohamed El-Erian, and Joe Saunders, former Visa chief executive…. Read More

Defying Brexit Gloom: UK Online Lender WiseAlpha Exceeds £627K During Second Crowdcube Run

WiseAlpha, a UK online lending platform that gives everyday investors access to high yield institutional bond and loan investments, has raised over £627,000 on its Crowdcube return in just 7 days, coming in at 125% over its original target. More than 433 investors have invested in return… Read More

LendingClub Appoints Former PayPal Exec Steve Allocca as President

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has announced the appointment of Steve Allocca as President of the online lending company. Allocca will start at LendingClub on May 22, 2017 and will report directly to LendingClub CEO Scott Sanborn. Allocca will… Read More

Finnovista Co-Founder Fermin Bueno Shares Lowdown on Peruvian Fintech

Fermin Bueno, Managing Partner & Co-founder at Finnovista and Startupbootcamp FinTech Mexico City, recently posted a Fintech Radar for Peru via LinkedIn, in which he and his team identified 45 Fintech startups currently operating in Peru. The Peruvian Fintech ecosystem is currently experiencing extremely rapid growth, according… Read More

Funding Circle Database Records Left Publically Available

Kromtech Security Researchers say they discovered a “massive trove of data” from both businesses and investors on the online lending platform Funding Circle. The data only referenced US based customers and did not impact other markets where Funding Circle originates loans. Reportedly, no data was… Read More

Contrarian Lending Marketplace Younited Credit Crosses €500 million Milestone

Since it opened for business in 2012, French lending startup Younited Credit has thrived by implementing strategic choices that ran contrary to common practice among lending marketplaces. It was the first of its kind (and still is the only one so far) to get a… Read More

Kroll Bond Rating Agency Assigns Preliminary Ratings to SoFi Consumer Loan Program 2017-3

Kroll Bond Rating Agency (KBRA) announced on Tuesday it has assigned preliminary ratings to one class of notes issued by SoFi Consumer Loan Program 2017-3 LLC (“SCLP 2017-3”). According to the firm,  this was a $530 million consumer loan ABS transaction that is closing on… Read More

LendingTree Announces Top Customer-Rated Lenders by Loan Product for 2017’s First Quarter

Online loan marketplace, LendingTree (NASDAQ: TREE), announced on Friday the top customer-rated lenders by loan product for 2017’s first quarter. According to the platform, the list features top lenders in multiple loan product categories, which includes mortgages, personal loans, business loans, and auto loans. Speaking… Read More

Assetz Capital Pulls in £10m of New Investments with Rate Increase

Assetz Capital is reporting that a key promotional interest rate increase is having the desired impact. According to the peer to peer lender, £10 million in new investment has been received in just three weeks. The rate increase went live on 13 April giving new… Read More

Prosper Report: System Error Overstates Return on Loans

Prosper Marketplace, one of the largest online lending platforms in the US, has apparently been overstating annual investment returns on loans due to an error in their systems. Bloomberg reported yesterday that investors were being notified of the error and that the issue has been… Read More

Data Science & Mobile: Looking Through the Lens of Mobile Financial Services the Results are Transformational

Pretty much everyone has a smartphone these days. Either iOS or Android, we carrying our mini-computers with us everywhere, purchasing, reading, socializing, working and more. All day long. The data potentially captured by a smartphone is profound. There are many products and services that stand… Read More

Lendio Releases Annual List of Top 10 Best States for Small Business Lending

Marketplace lending platform Lendio announced on Monday its annual list of Top 10 Best States For Small Business Lending. The list is based on the lending data from the lender’s platform, which matches small businesses with over 75 lenders. Speaking about the list, Brock Blake,… Read More

Orchard Explains How Consumer Online Lending Gets its Mojo Back

After years of rapid growth and promising predictions from the Fintech sector, consumer online lending stumbled in 2016. The one-two punch of fast money running for the doors and a jittery economy pulled the rug out from under the entire sector. Some industry followers responded… Read More

CFPB Sues Four Online Lenders Operated by a California Indian Tribe

The Consumer Financial Protection Bureau (CFPB) has sued four online lenders for collecting debt from consumers they allegedly did not owe. The four lenders include: Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Mountain Summit Financial, Inc., and Majestic Lake Financial, Inc. – The suit… Read More

Kudimoney Capital Now Offering Uncollateralized Loans in Nigeria

Nigerian Kudi Capital Management Ltd announced the public launch of Kudimoney, a fully licensed online lending platform offering unsecured personal loans to consumers in Nigeria. Kudimoney aims to differentiate itself from OneFinance, Kiakia, C24, Snapcredit and QuickCheck by offering uncollateralizedloans to individuals within one hour. The company platform counts over 5,000 registered… Read More

CommonBond Now Offers Student Loans to All Undergraduate & Graduate Students

CommonBond, a student loan provider that previously offered financing only to MBA students, has pushed into student loans for both current undergraduates and graduate students. The online lender said it is the first and only company in the US to offer a full suite of student… Read More

Growth Street Reports Rapid Growth as 600 Investors Sign Up in Just 5 Months

Peer to peer lender Growth Street is reporting solid growth. The online lender said it has captured over 600 investors since platform launch at the end of 2016. Growth Street is a platform that provides online financing options for UK SMEs. The company also touted its… Read More