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Online Lending

·Mar. 3, 2017

Video: SoFi Talks with Mad Money

Jim Cramer of Mad Money talks with Mike Cagney of SoFi to discuss the unique business model of the privately managed business which has originated over $16 billion in loans and recently closed a $500 million fundraising round; Cagney provides details on the student loan refinancing business and the company's unique focus on supporting customers in many different aspects of their personal and financial lives; notes SoFi's return on equity advantages over banks and the market opportunity it is targeting as it builds out its business. Source

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Fintech News Roundup Online Lending

·Mar. 3, 2017

Lend Academy Article: LendIt PitchIt Finalists, Where are they now?

Lend Academy summarizes the activity of past LendIt PitchIt finalists in their article; a LendIt competition for startup businesses, PitchIt provides finalists the opportunity to present their business in front of a panel of judges and an audience of investors with the goal of receiving new venture capital funding for business growth; since 2015, PitchIt has helped support the success of the many finalists detailed in the Lend Academy article. Source

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News Roundup Online Lending USA

·Mar. 3, 2017

Alternative Credit Lender Upstart Raises $32.5mn

Upstart's Dave Girourad talks with TechCrunch about the company's new fundraising round which is adding new capital of $32.5 million; the new capital brings total funding to $85 million and this round's investors included Rakuten, Third Point Ventures, Khosla Ventures and First Round Capital; the fundraising will help the firm launch a new software as a service product called Powered by Upstart, an extension of its proprietary credit underwriting platform which utilizes machine learning and modern data science; Upstart will be releasing the new product at LendIt USA 2017. Source

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News Roundup North America Online Lending

·Mar. 6, 2017

Count Loyalty Announces Partnership with Vendasta Technologies

Partnership will add 700,000 small businesses from the Vendasta network to the LoyaltyCapital® Network; the Vendasta network includes representation from 1800 media properties and 8000 sales professionals; Vendasta businesses will now have the opportunity to obtain better access to credit financing through the LoyaltyCapital customized multi-lender platform focused on providing credit for businesses with high customer loyalty in their communities. Source

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News Roundup Online Lending USA

·Mar. 6, 2017

CMC Releases CredAgility 7.3 at LendIt USA 2017

The CredAgility platform is relied on by lenders globally for customer management solutions; enhancements to the newly released version 7.3 include expanded customer level views for client service representatives, improvements for compliance management, added self-service options and improved functionality for email and customer outreach. Source

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News Roundup Online Lending Real Estate USA

·Mar. 6, 2017

Patch of Land Hires New Chief Investment Product Officer

Online real estate lender and crowdfunding platform Patch of Land has hired Matthew Zall to serve as its new chief investment product officer; the new hire occurs as Patch of Land plans to expand into the single-family rental market, identifying an opportunity to capitalize on the 24 million US single-family units valued at over $6 trillion; Zall's experience includes single-family loan structuring at Blackstone Group subsidiary B2R Finance; he has also worked as a commercial real estate trader at J.P. Morgan and Bear Stearns; in comments regarding the new hire, Paul Deitch, Patch of Land's chief executive officer said, "The addition of Matt enables us to continue the expansion of our marketplace to fully serve the lending needs of more than 10 million Americans who directly invest in single-family residential properties and need consistent, reliable access to capital to fuel their businesses." Source

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News Roundup Online Lending USA

·Mar. 6, 2017

Alternative Credit Data Provider VerumView Launches Beta Product

Alternative credit data company VerumView has developed a product primarily focused on capturing data surrounding an end-user's email; it's built on an API-based know your customer service (KYC) and helps to provide credit decisions on thin file borrowers; the system can service the following: identity verification, fraud detection, KYC, anti-money laundering, TF prevention, loan and insurance underwriting, credit and affordability scoring, competitive analysis and targeted marketing. Source

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News Roundup Online Lending USA

·Mar. 6, 2017

CloudMyBiz Launches One Platform Solution at LendIt USA 2017

CloudMyBiz has announced a one platform solution for alternative lending which includes services for origination, underwriting, servicing and client relationship management; the platform is built on Salesforce.com; CloudMyBiz is active in providing cloud solutions for alternative lending; it specializes in Salesforce implementation, migration, integration, development, third party applications and custom app development, helping clients to streamline processes for increased business efficiency. Source

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News Roundup North America Online Lending

·Mar. 6, 2017

LendingArch Launches Online Loan Solution for Medical Expenses

Canadian online lender LendingArch is building out its financing capabilities with the launch of a new solution for medical expenses; the company seeks to provide financing solutions for debt consolidation, home improvement and other areas of personal growth; the medical expenses product will broaden the firm's scope and help support consumers in managing out of pocket medical expenses; customers can access the loan solution individually or at a clinic location; the platform's loans allow for immediate payment to clinics and offer financing terms ranging from 12 months to three years. Source

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News Roundup Online Lending USA

·Mar. 6, 2017

LendGenius Offering Loan Matching Solution for Small Businesses

LendGenius is launching a new product to offer loan options for small businesses and to help increase education and awareness of small business credit availability; the company plans to launch its service in April 2017; the service will feature a dashboard of available loan offerings for companies based on their application profile; LendGenius has also worked extensively on building out the lender integration with the system which provides a range of API integrations and a comprehensive dashboard for reviewing borrowers; in the past four months the company reports over 30,000 requests for capital totaling over $8 million. Source

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