Tagged: online lending

Ron Suber on Fintech & Fraud: A Global Challenge (Deck)

Acts of fraud have been around since the dawning of time. How fraud occurs is a never-ending, shape-shifting challenge for individuals, companies and public authorities. There will always be a new scam. There will always be another Ponzi or Madoff looking to separate hard-earned money… Read More

Xero Integrates with Multiple Online Lenders

Xero has announced a series of new agreements to integrate a handful of online lending platforms. Xero has added MarketInvoice, iwoca, and DueCourse to its software platform. Xero is an online accounting software designed for small business and their advisors. The company currently has over… Read More

Rating Action: Fitch Upgrades Loans Originated by Prosper

Fitch Ratings has taken the following rating actions on Citi Held for Asset Issuance 2016-PM1 (CHAI 2016-PM1), which is backed by marketplace loans originated via the Prosper platform: Class A upgraded to ‘Asf’ from ‘A-sf’; Outlook Stable; Class B upgraded to ‘BBBsf’ from ‘BBB-sf’; Outlook… Read More

Yirendai Releases Q4 Results. Reports 100% Growth in Year Ov

Yirendai Ltd. (NYSE:YRD), a prominent online lender in China, announced its unaudited financial results for the quarter and full year ended December 31, 2016. Folowing the release, shares moved lower in pre-market trading. In Q4 of 2016, Yirendai reported it had facilitated 194,505 investors with total… Read More

Online Lender Lendix Prepares for First Italian Loans Soon After Launch in Spain

Lendix has opened its platform to Italian investors. Following the launch in Spain, Lendix, a leading online lender targeting the SME sector, expects to issue its first loans in Q2 of 2017.   Yes, we are open ! Sì, siamo aperti ! Oui, nous sommes… Read More

The Fantastical World of Chinese Marketplace Lending Promotions

One of the fundamental differences between Chinese and US lending platforms can be found just by examining the home pages of their websites. Most, if not all, US platforms’ landing pages are targeted at borrowers and exhibit mainly information around borrowing whereas, on those of… Read More

LoanHero & Quorum FCU Announce Strategic Partnership

LoanHero, a retail Fintech and loan origination platform for automated lending to consumers at the point of need, has announced a strategic partnership with Quorum Federal Credit Union. Quorum is a full-service financial institution currently serving over 70,000 members across all 50 states. The partnership with… Read More

The Stamina of Rocky Balboa: Prosper President Ron Suber Updates on Marketplace Lending Industry (Video)

Ron Suber, the President of Prosper and a perennial keynote speaker at the annual LendIt conference, delivered a rousing update on the status of marketplace lending.  Directly addressing the challenges that impacted all online lenders in the past year, Suber stated; “Success this past year required… Read More

Assetz Capital CEO Stuart Law Predicts Boost for P2P Sector in Upcoming Budget

Stuart Law, CEO and co-founder of P2P lender Assetz Capital, expects a boost for the peer to peer lending sector in the upcoming budget. Specifically, Law believes a small business tax rise and IFISA rule change could boost the online lending sector. “In just a few… Read More

Orchard Publishes Quarterly Online Lending Report: Originations Move Up From Q3

Orchard’s platform published their quarterly report a few days back covering Q4 of 2016. According to Orchard, loan volume increased in Q4 reversing a trend that began in Q4 of 2015.  While originations ticked up in Q4 versus Q3, they are still nowhere close to where… Read More

Lending Club Wins Motion to Compel Arbitration. Avoids Class Action.

Lending Club (NYSE:LC) has was a significant court victory regarding its ability to compel arbitration. The case Bethune v. LendingClub Corp. was filed in the Souther District Court of New York in 2016. The issue pertained to the interest rate a New York resident was being charged… Read More

Online Lender Upstart Raises $32.5 Million as Googler Joins as CFO

Online lending platform UpStart has raised $32.5 million led by Rakuten, a Japanese conglomerate that has been pushing into Fintech, and a large “US-based Asset manager”. Existing investors Third Point Ventures, Khosla Ventures, and First Round Capital also participated in the funding round. Oskar Mielczarek de… Read More

4Finance Posts Annual Results

4finance Holding S.A., a large European online and mobile consumer lending company, has published unaudited consolidated results for the twelve months ending 31 December 2016. According to their information; Revenue up 24% to € 393.2 million in the Period compared with € 318.3 million in… Read More

CommonBond Launches New Scholarship Program to Fund Education

CommonBond, an online lender that provides student loan refinancing as well as personal loans, has launched a new scholarship program. CommonBond has now lent almost a billion dollars to fund education and they see an opportunity to help make student loans more affordable by launching a… Read More

Peer to Peer Platforms Put on Notice: FCA Sends Out Dear CEO Letter to Online Lenders

This morning every P2P platform received a Dear CEO letter from the FCA, stating that platforms should not facilitate loans to a party who lends those monies onwards, unless that party is authorised for accepting deposits.  The issue here is really with the underlying lenders… Read More

Irish Online Lender LeBruin Launches Profunder to Target Commercial Real Estate Sector

LeBruin has launched a new online lending platform branded Profunder to specialize in providing loans of between €1m and €3m.  Profunder allows borrowers to apply for a commercial real estate loan through a four-step online application process. Feedback is provided to borrowers at each stage, and… Read More

Big News for Prosper: Marketplace Lender Signs Agreement for $5 Billion in Loan Purchases from Consortium of Investors

Prosper Marketplace, one of the leading online lenders in the US, has signed an agreement with a group of institutional investors to purchase up to $5 billion in loans over the next 24 months. The agreement alleviates a challenging situation that has been endured by… Read More

Aussie Lender Marketlend Appoints Brad Pattelli As New Non-Executive Director/Member of the Board

Australia’s peer-to-peer trade credit platform Marketlend announced on Monday it has appointed Brad Pattelli as its new non-executive director and member of the board. Pattelli reportedly has decades of experience as an investor in a broad range of businesses, multiple prior public, and private board roles. He… Read More

Report: P2P Lender Lufax Moving Away from Loans & Into Wealth Management

Lufax, othe largest peer to peer lenders in the world, is pivoting away from the online lending business. This is according to a report in WSJ.com. Lufax operates online and off – with more than 500 brick and mortar locations in over 200 cities. The… Read More

Lending Club Alters Grace Period for Borrowers

Lending Club (NYSE:LC) has tweaked the way it manages the “grace period” for borrowers when they make payments past the due date. Previously, borrowers received a 15 day grace period for any penalties on payments less than 15 days late.  Beginning today, Lending Club requires… Read More