Tagged: online lending

May 16, 2017 @ 8:33 am By JD Alois  |  

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

May 15, 2017 @ 10:51 am By Erin Hobey  |  

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

May 13, 2017 @ 10:29 am By JD Alois  |  

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

May 12, 2017 @ 7:40 am By Therese Torris  |  

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

May 10, 2017 @ 4:52 pm By Samantha Hurst  |  

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

May 8, 2017 @ 8:28 pm By JD Alois  |  

OnDeck (NYSE: ONDK), a leading online lender targeting small business, published Q1 results today. While the lending platform reported and increase of loans under management to $1.2 billion, a 25% increase versus prior year, the news was not good enough to boost shares in the… Read More

May 8, 2017 @ 3:56 pm By Samantha Hurst  |  

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

May 5, 2017 @ 9:04 am By JD Alois  |  

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

May 5, 2017 @ 7:48 am By JD Alois  |  

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

May 3, 2017 @ 3:47 pm By JD Alois  |  

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

May 1, 2017 @ 1:40 pm By Samantha Hurst  |  

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

May 1, 2017 @ 12:24 pm By JD Alois  |  

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

April 27, 2017 @ 2:11 pm By JD Alois  |  

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

April 27, 2017 @ 10:31 am By Erin Hobey  |  

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

April 25, 2017 @ 11:22 am By JD Alois  |  

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

April 22, 2017 @ 4:40 pm By JD Alois  |  

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

April 21, 2017 @ 7:14 am By JD Alois  |  

Peer to peer lender Assetz Capital is celebrating four years in operation. The platform reports that during these past years, it has originated £240 million in lands. Assetz Capital plans to double the figure within the next 12 months. “We’ve seen the company go from… Read More

April 21, 2017 @ 6:58 am By Timothy Li  |  

When I took my first computer science courses in college, my professor often cited the old adage “Garbage in, Garbage out”. Most of the students in the classroom chuckled. For most of us, that was the first time we heard that expression. What he meant… Read More

April 20, 2017 @ 7:32 am By JD Alois  |  

European marketplace lending platform Lendix has opened its platform to Italian SMEs. As of today, Italian businesses may borrow from €30,000 to €2 million directly financed by international investors. Lendix called the operation “a new step towards a true European credit market.” For Italian businesses to list a… Read More

April 18, 2017 @ 10:52 am By JD Alois  |  

During a “period of recalibration” for Goldman Sachs (NYSE: GS), the diversified financial firm announced Q1 2017 financial results today. Goldman reported net revenues of $8.03 billion and net earnings of $2.26 billion for the first quarter ended March 31st. Diluted earnings per common share… Read More