Tagged: p2p

January 20, 2016 @ 8:24 am By JD Alois  |  

Marketplace lending platform RateSetter has hired two former bankers in a move to boost their executive bench. Paul Marston has taken the position of Head of SME Lending and Angela Yotov as Head of Legal. Marston was previously employed by Secure Trust Bank, a challenger… Read More

January 19, 2016 @ 10:22 pm By JD Alois  |  

As what will come as little surprise to many observers, a recent report out of China indicates that online fraud is on the rise, specifically within peer to peer lending. There have been repetitive, ongoing reports highlighting the risk of internet finance in China for… Read More

January 19, 2016 @ 1:27 am By Midori Yoshimura  |  

Backed by Ping An Insurance Group Co of China Ltd., Lufax, a Chinese peer-to-peer lender, has raised $1.2 billion from a group of investors, making it one of the world’s most valuable financial technology startups.  The capital raising values Lufax at $18.5 billion. The Shanghai-based Shanghai Lujiazui International Financial Asset Exchange Co… Read More

January 18, 2016 @ 6:33 pm By JD Alois  |  

Towards the tail end of last summer, Harmoney founder and CEO Neil Roberts decided to depart his responsibilities from the board of the company he created. It appeared a bit odd at the time, but Harmoney was quick to assure that it was just a “personal decision”.  The executive… Read More

January 18, 2016 @ 6:00 am By Spencer Li  |  

The China Banking Regulatory Commission (“CBRC”) issued the highly anticipated draft rules for online lending on December 28, 2015. Ever since the State Council guidelines (“the Guidelines”) for the Chinese internet finance industry were issued in July, rumors about the timing of the online lending… Read More

January 16, 2016 @ 9:17 am By JD Alois  |  

Tuft & Needle is an interesting startup.  In part because it is not some sexy tech unicorn but a company that provides a more banal product – mattresses. We all sleep. We pretty much all need one.  Mattress sales are big business yet the industry largely… Read More

January 15, 2016 @ 10:03 am By JD Alois  |  

The Innovative Finance ISA is a huge opportunity for the peer to peer lending industry.  Yet the introduction of the new ISA also highlights an ongoing issue for P2P platforms: The profound need to inform and educate potential investors and advisors of their services. Sure… Read More

January 14, 2016 @ 5:41 pm By JD Alois  |  

In an interview with Canadian Business, Canadian Imperial Bank of Commerce (CIBC) CEO Victor Dodig touched upon looming competition with online lenders. Dodig is a relatively new CEO of the bank having taken the helm of CIBC in 2014. Dodig joined CIBC in 2005 but prior… Read More

January 14, 2016 @ 2:42 pm By JD Alois  |  

Her Majesty’s Revenue and Customs (HMRC) department, the agency responsible for the collection of taxes, has published its current “position” on the requirement to deduct income tax on interest paid on peer to peer loans. According to HMRC, under existing tax rules in Chapter 3… Read More

January 14, 2016 @ 1:39 am By Midori Yoshimura  |  

Based in Jakarta, Indonesia, a new marketplace for peer-to-peer (P2P) lending officially launched today to give Indonesia’s small and medium enterprises (SMEs) greater access to funding by means of loans pooled from crowdfunding, according to a story in the JakartaGlobe. Modalku offers companies quick access to non-collateral loans with interest rates between… Read More

January 13, 2016 @ 12:00 pm By Erin Hobey  |  

Nearly one third of Americans will be using a technology company for financial services such as loans, mortgages and payments in five years, reports global P2P platform TransferWise Almost one third of Americans are likely to be using a technology provider and not a bank for… Read More

January 12, 2016 @ 2:58 am By Midori Yoshimura  |  

In Shanghai and Shenzhen, administrations for industry and commerce have suspended the registration of Internet finance platforms, according to the Beijing Business Today in ECNS.cn. The publication also notes that in Beijing, the Administration for Industry and Commerce also released a similar statement. However, this has not… Read More

January 11, 2016 @ 12:17 pm By JD Alois  |  

Orchard has published its’ monthly industry report covering the marketplace lending sector for consumer unsecured loans. According to data provided by the company, total origination volume has consistently increased quarter-over-quarter during the past year. Some highlights included in the document; Borrower interest rates have been… Read More

January 11, 2016 @ 8:03 am By JD Alois  |  

Research conducted by peer to peer lender ThinCats indicates that one in four investors over 55 will consider leveraging the new Innovative Finance ISA that launches this coming April. This contrasts to 4.5% of investors in this age group that use P2P lending platforms as… Read More

January 11, 2016 @ 7:51 am By JD Alois  |  

Lending Works, a London-based peer to peer lending platform, states it tripled its business in 2015 and expects to double that number over the next 12 months. According to the 2 year old platform, in 2015 the company facilitated £20 million in loans and forecasts… Read More

January 10, 2016 @ 11:24 am By JD Alois  |  

In a subtle allusion to sci-fi favorite Star Trek, Freddie Mac has posed the question if marketplace lending is the “final frontier”. The December report from the quasi-public / private mortgage entity, states that in Sci-Fi dramas back in the day, “humankind accepted technological help… Read More

January 8, 2016 @ 5:06 pm By JD Alois  |  

Like the rest of the world, India is moving forward with new forms of finance. Last month, the Securities and Exchange Board of India stated it would reveal crowdfunding norms “soon”.  Now at a conference taking place in Mumbai, R. Gandhi, deputy governor of the Reserve Bank of… Read More

January 8, 2016 @ 11:39 am By JD Alois  |  

The national roll-out continues for Lending Club (NYSE: LC) as it adds Oregon and New Jersey to the list of states where investors may lend to borrowers. Lending Club must be approved by each state to allow investor participation.  As of today, Lending Club is open… Read More

January 7, 2016 @ 2:30 pm By Therese Torris  |  

Lendix, one of the 60 companies who joined the fray of crowdlending platforms in 2015 has quickly taken the leadership position by designing a marketplace that meets the needs of institutional investors. Marketplace lending to small and medium size enterprise (SMEs) is taking off in… Read More

January 7, 2016 @ 1:16 pm By JD Alois  |  

VPC Specialty Lending Investments PLC (LSE:VSL) states it continues to execute on its investment objectives and delivered NAV returns of 0.69% on the ordinary shares and 1.49% on the C shares for the month of November. Additionally, on 12 November 2015, the Company declared an… Read More