Tagged: p2p

February 28, 2017 @ 12:00 pm By Gillian Roche-Saunders  |  

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

February 27, 2017 @ 2:41 pm By JD Alois  |  

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

February 24, 2017 @ 7:52 pm By JD Alois  |  

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

February 24, 2017 @ 7:28 pm By JD Alois  |  

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

February 24, 2017 @ 11:56 am By JD Alois  |  

As traditional banks reduce their physical presence across the country some online lenders are increasing their brick and mortar operations.  Assetz Capital is investing in their regional team and, in fact, grew their numbers by 110% during 2016. Stuart Law CEO and co-founder of the P2P… Read More

February 24, 2017 @ 10:28 am By Samantha Hurst  |  

Global peer-to-peer lending platform TransferWise announced earlier this week it has integrated its money transfer service, TransferWise Bot, with Facebook Messenger. The online lender revealed that customers may now send money and set up rate alerts without having to leave the Facebook Messenger app. TransferWise reported that users… Read More

February 24, 2017 @ 9:43 am By Therese Torris  |  

In what is probably a worldwide premiere, the French SME lending aggregator site crowdlending.fr organized an online competition enabling retail investors to elect their favorite lending marketplaces. The members of crowdlending.fr’s community of lenders lend on average €4,500 through 3,2 platforms. The 600 voters, who… Read More

February 22, 2017 @ 3:41 pm By JD Alois  |  

SME lender Funding Circle has reportedly topped £2 billion in lending. The SME marketplace lender is closing in on UK’s largest online lender Zopa that announced in January it had surpassed the £2 billion mark. Of course Funding Circle is an international operation with lending… Read More

February 22, 2017 @ 9:56 am By Xu Gao  |  

Hong Kong Securities & Futures Commission Joins R3 Blockchain Consortium The Hong Kong Securities and Futures Commission (SFC) announced it had joined the R3 blockchain consortium. Through this partnership, SFC will test applications of blockchain on record and settlement of securities and futures trading with the… Read More

February 22, 2017 @ 4:00 am By JD Alois  |  

Bitbond has raised $1.2 million in equity capital to help boost global expansion. The Berlin-based online lending platform has now raised total funding of $2.3 million. The funding round was led by mobilike founder Şekip Can Gökalp, plus several angels investors including, Fyber founders Janis Zech… Read More

February 21, 2017 @ 12:05 pm By JD Alois  |  

Online lender RateSetter has said it has now collected £1 billion in capital repayments from borrowers since its first loan back in 2010. Overall, RateSetter has originated approximately £1.75 billion in loans while paying out £63 million in interest.  The average interest rate ranged between… Read More

February 20, 2017 @ 2:20 pm By Therese Torris  |  

At the onset of the marketplace lending market, lending to businesses was equated with lending to small and very small businesses: businesses at the low end of the small and medium-size enterprise (SME) market who were borrowing on average under €100,000.  However, as the alternative lending… Read More

February 20, 2017 @ 9:05 am By JD Alois  |  

OFF3R, an online marketplace for alternative investments, published a report on P2P lending and crowdfunding last week.  OFF3R said that while equity crowdfunding sagged in January – dropping 65% from December – P2P lending remained strong. The Index includes six different equity crowdfunding platforms. OFF3R… Read More

February 20, 2017 @ 8:02 am By JD Alois  |  

Last week, NatWest – part of the Royal Bank of Scotland (RBS) – announced a new online platform designed to simplify the loan making process for UK SMEs.  Borne out of an ‘Innovation Cell’, working with Fintech firm Ezbob Limited,  “Esme” has been developed in… Read More

February 19, 2017 @ 10:59 pm By JD Alois  |  

China is the largest market in the world when it comes to peer to peer lending. The Chinese online lending market has also earned a reputation for fraud and a wild-west type environment as many platforms operate with little regulatory oversight. But this is changing… Read More

February 17, 2017 @ 2:31 pm By Samantha Hurst  |  

UK-based peer-to-peer lending platform Lending Works announced on Friday it has reopened the window for ISA contributions. The platform claimed it is the first P2PFA member to launch an Innovative Finance ISA (IFISA) last week and filled its first ISA tranche of £2.5 million within 24… Read More

February 16, 2017 @ 9:04 am By Samantha Hurst  |  

Australia’s Auswide Bank Ltd. (ASX:ABA) announced on Thursday it is increasing its equity stake in peer-to-peer lender MoneyPlace Holdings Pty Ltd. According to Auswide Bank, it will have a controlling interest of at least 51% in MoneyPlace with the potential to increase that interest up… Read More

February 15, 2017 @ 11:16 am By Samantha Hurst  |  

Royal Bank of Scotland’s NatWest announced it is set to launch its very own digital SME lending platform called Esme. The new platform is notably set to offer new and existing NatWest customers with unsecured loans that are worth up to £150,000 for a maximum… Read More

February 14, 2017 @ 4:59 pm By JD Alois  |  

Lending Club (NYSE:LC) has reported Q4 2016 earnings along with forward-looking statements for 2017. Lending Club reported that loan originations in Q4 of 2016 were $1.99 billion, or 1% higher compared to the $1.97 billion reported in Q3 of 2016 and down 23% compared to $2.58 billion in the… Read More

February 14, 2017 @ 4:26 pm By JD Alois  |  

Lending Club (NYSE:LC), the largest marketplace lending platform in the US, has reported Q4 results alongside full year numbers. Loan originations in Q4 of 2016 were $1.99 billion, up 1% compared to the $1.97 billion reported in Q3 of 2016 and down 23% compared to $2.58 billion in the… Read More