Peter Renton reviews the claims from the FTC against LendingClub, LendingClub’s subsequent response and shares his perspective on the news. Source...
Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his perspective on the likely fintech IPOs in 2018. Source
Peter Renton, Founder of Lend Academy reports on the potential of Google, Amazon, Facebook and Apple being the fintech leaders of tomorrow. Source
Goldman Sachs has been offering more products to a wider range of consumers; this started with the acquisition of the online deposit platform of GE Capital; the firm is competing aggressively on their deposit rates to grow this base; in 2016 they launched Marcus, their online lending platform, and now have a new lending product called GS Select; product offers loans backed by investment portfolios for individuals that have a Fidelity financial adviser. Source
Despite being less than two years old Marcus by Goldman Sachs continues to aggressively expand their consumer finance business. It...
GreenSky, the point of sale lender went public today, raising $874 million; the company is profitable, has high margins and...
Lend Academy Article: Hongling Capital: The Worst Victim of China’s P2P Lending Regulatory Crackdown
China's P2P platform Hongling Capital is shutting down; Lend Academy details its business highlights and subsequent shutdown in their article; continued losses, large loans and payment guarantees were a few of the factors that led to its closing; the article also highlights some of the issues with guaranteeing principal or interest and includes Hongling's plans for the future. Source
David Lin, Head of Credit at PayU gives his take on expanding credit and how this looks in practice with their investment in Kreditech. Source
In this post we share the process of opening up a new LendingClub account, the first in a new series we will be sharing over the coming quarters. Source
Lend Academy provides details on IBM Watson's acquisition of Promontory Financial Group, a firm used to help navigate complex banking regulations; IBM has acquired Promontory to train Watson on Dodd-Frank which includes 22,000 pages of regulation; Promontory has experience from a long list of banking veterans and will help train Watson on financial risk modeling, surveillance, anti-money laundering (AML) and Know Your Customer (KYC); the result will be an artificial intelligence solution that can be implemented for all aspects of compliance, regulation and monitoring; Brian Walter, Watson global industry leader for banking and financial markets at IBM will be speaking at LendIt USA 2017 in a featured keynote discussing how financial firms are using artificial intelligence and how it's expected to evolve. Source