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Online Lending

·Oct. 21, 2016

OnDeck Partners with Orchard for Client Data Reporting

OnDeck has partnered with institutional data consultant, Orchard, to provide data reporting for institutional investors on its platform; OnDeck is a small business lender with significant investment from institutional investors; through the partnership Orchard will manage the loan reporting for OnDeck's institutional investors and provide investors with access to investor dashboards, portfolio benchmarking, automated daily holdings reports and a variety of customized reporting options held within the Orchard for Originators data system. Source

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News Roundup Online Lending USA

·Oct. 17, 2016

Lending Club Sends Investor Letter on Interest Rate Increases

Lending Club's CIO, Siddhartha Jajodia, sent a letter to investors on October 14 alerting them of an increase in interest rates; Lending Club says it will increase loan rates by a weighted average of 26 bps with rate changes mostly concentrated in the lower credit quality loan grades; the rate increase follows a previous weighted average interest rate increase of 135 basis points from November 2015 to June 2016; the rate increase is consistent with a lower credit quality trend observed from the platform’s borrowers as well as a higher trending rate environment in the US; additionally the firm also reported changes to credit policy standards and improvements to its collections efforts.

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News Roundup Online Lending USA

·Oct. 11, 2016

Pioneers in Aviation Marketplace Lending

airplane-small AirFinance has helped to expand marketplace lending capabilities in the aviation finance market through a recent launch of FlyFunder: a closed-network connecting financiers, investors, used aircraft brokers and aircraft developers.

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Fintech News Roundup Online Lending

·Oct. 11, 2016

Prosper Adds Credit Card Optimizer to Its Prosper Daily App

Leading marketplace lending platform, Prosper, has launched Credit Card Optimizer; the Credit Card Optimizer is an enhancement to the firm’s Prosper Daily app which was introduced in March 2016 as an aggregator for financial accounts; the Credit Card Optimizer will provide users with their credit card balances and payment notifications; also seeks to provide advice on credit card usage and includes features for managing credit cards by interest bearing balances. Source

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Europe News Roundup Online Lending Real Estate

·Oct. 11, 2016

LendInvest Reports Revenue Gain and Earnings Profit

UK mortgage loan marketplace platform, LendInvest, has released its 2016 earnings; originations on the platform increased 84% to £320 million for the year ending March 2016; company grew revenue 133% to £32 million with a profit of £3.4 million; leads most of its competitors who have been consistently reporting losses. Source

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Europe Finance News Roundup Online Lending

·Oct. 6, 2016

Pemberton Asset Management Raising £500m to Lend to Midsized British Companies

Non-bank lender Pemberton Asset Management sees a big opportunity in business lending with the uncertainty surrounding Brexit; Pemberton is confident that European banks will pull back as a result of Brexit and slow their lending practices; the sizable raise also points to the confidence in private debt funds as an option for companies unable to get financing from the banks.

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News Roundup Online Lending

·Sep. 9, 2016

China-Based Ant Financial using AI to Recommend Investments to Individuals

Ant Fortune is the wealth management app for Ant Financial; Fortune is launching “4S” on its wealth management app; solution will use artificial intelligence to help investors allocate capital if they are not sure where it’s most appropriate to invest; aimed to better serve less sophisticated, smaller investors in China; Source

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Finance News Roundup Online Lending USA

·Sep. 9, 2016