Random

Online Lending

·Mar. 24, 2017

Speculation on a Buyout of OnDeck Capital

Bloomberg provides insight on factors involved in a potential takeover of OnDeck Capital after rumors on Thursday that Kabbage was considering an offer to acquire the firm; it seems OnDeck's shareholders would likely veto a takeover with 45% of the company still owned by its original investors; as a private company, the structuring of the deal terms for Kabbage would also be difficult and to gain any interest from OnDeck's shareholders they would have to offer a considerable premium. Source

Read Full Story

Europe News Roundup Online Lending Regulation

·Dec. 12, 2016

FCA Worried by P2P Lenders Buying Loans from Rival Platforms

In their recently completed review, the Financial Conduct Authority (FCA) was particularly worried about some platforms using customer money to buy loans from rival platforms; FCA CEO Andrew Bailey explained that platforms don't have enough loans to present so in turn they use investor money to buy up loans from a rival platform; this is worrisome as investors are not being told the correct risks; Mr. Bailey did not disclose any platforms by name and said the issue was not widespread but worth keeping an eye on. Source

Read Full Story

Europe Fintech News Roundup Online Lending

·Mar. 24, 2017

RBS Considering Mortgage Robo Advice and Closing 158 Branches

The Royal Bank of Scotland is closing 158 branches in the UK in an effort to reduce costs; it has continued to struggle since the financial crisis reporting nine consecutive years of losses; the firm has been increasingly integrating automation to cut costs and says it will make a decision on its robo advisory service for mortgage lending by the third quarter; the robo advisory service offers customers advice and insight that helps them decide on a mortgage loan product, also giving them an option to connect with a human advisor at any time during the process. Source

Read Full Story

Fintech News Roundup Online Lending USA

·Mar. 8, 2017

Richard Cordray on Fintech Innovation at LendIt USA

Featured keynote speaker Richard Cordray from the US Consumer Financial Protection Bureau (CFPB) discussed the Bureau's fintech initiatives at LendIt USA; a video of the presentation can be found here; in prepared remarks Cordray discussed the Bureau's focus on both providers and consumers with three areas of special interest including: consumer-friendly innovations, consumers' control over their personal financial data and the use of alternative sources of data for underwriting loans; recent fintech innovation activity from the CFPB has primarily been centered around its Project Catalyst; on February 16 the CFPB also issued a request for information on the uses of alternative credit data with an open comment period until May 19. Source

Read Full Story

News Roundup Online Lending

·Nov. 18, 2016

Lend Academy Article: My Quarterly Marketplace Lending Results – Q3 2016

Peter Renton of Lend Academy shares his quarterly marketplace lending results for the third quarter; portfolio includes twelve accounts with investments in Lending Club, Prosper, Direct Lending Income Fund, Lend Academy P2P Fund, P2Pinvestor and PeerStreet; Q3 reported another quarter of lower returns; third quarter trailing twelve month return was 8.21%, a decrease from 8.72% in the second quarter and the sixth consecutive quarter of lower portfolio return. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 16, 2017

Lend Academy Podcast: Denise Thomas of ApplePie Capital

ApplePie Capital has built a dynamic marketplace lending platform with a range of high net worth and institutional investors focused on business lending for franchises; Lend Academy talks with ApplePie Capital CEO Denise Thomas in their podcast; the podcast provides in-depth details on platform loan terms for franchisees; Denise Thomas also gives insight into the small business franchise market and talks about recent capital investments for the platform. Source

Read Full Story

Europe News Roundup Online Lending

·Feb. 1, 2017

Investment Comparison Service Orca Raises 280,000 British Pounds

Orca Money has raised 280,000 British pounds ($354,425) in a funding round led by TechStart NI; the UK company provides a comparison service for investors interested in P2P investments; the funding will primarily be used for development of Orca Retail, a financial media site which it plans to open in 2017. Source

Read Full Story

News Roundup Online Lending

·Feb. 15, 2017

Small Business Outlook Improves

The NFIB Small Business Optimism Index increased to 105.9 in January and reported its highest level since December 2004; in December 2016 the Index increased 7.4 points and has since continued to gain; small businesses have reported plans to increase workers and their optimism overall has been helped by policy proposals from the Trump administration. Source

Read Full Story

News Roundup Online Lending

·Feb. 13, 2017

Wave Will Offer OnDeck Credit Products to Small Businesses

Wave and OnDeck have partnered to offer credit products to small businesses; Wave currently offers small businesses financial tools and software for managing their business; the firm will now offer its clients new credit products through Lending by Wave; with Lending by Wave clients can directly access loans and credit lines from OnDeck through the Wave ecosystem. Source

Read Full Story

News Roundup Online Lending

·Mar. 6, 2017

Creditas Releases Lending Market Report on Brazil

Creditas is an online secured loan provider in Brazil; the company has announced the release of its 2017 Brazil Lending Market Report which provides an overview of the country's trends in consumer lending; also reports on market metrics including interest rate spreads and outstanding debt by lending categories. Source

Read Full Story