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Online Lending

·Mar. 28, 2017

Bitbond and BitPesa Partner for Improved Financing to SMEs in Africa

German-based marketplace lender Bitbond has partnered with African payments provider BitPesa to improve the lending experience for small and medium enterprise (SME) borrowers; Bitbond will enhance the blockchain lending services of its platform by incorporating cross-border payments through BitPesa; the BitPesa payments platform can make payments in 20 minutes and is now live in Kenya, Nigeria, Uganda and Tanzania. Source

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Europe News Roundup Online Lending

·Feb. 28, 2017

FCA Tells P2P Lenders to Stop Industry Network Lending

The Financial Conduct Authority (FCA) has requested that P2P lenders not lend to each other through industry network lending; the request comes as the regulator continues to increase its oversight and understanding of the industry; in the FCA's report it says that the industry network lending could be in violation of rules that require deposits for such transactions. Source

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News Roundup Online Lending

·Mar. 29, 2017

Lidya Raises $1.25mn for SME Funding Platform

Lidya has raised $1.25 million to expand its financing services for small and medium enterprises in Africa; the funding round was led by Accion Venture Lab and will help the company enhance its credit scoring for small businesses and improve access to small business funding; it is targeting $4.9 million in loans for its first year of business. Source

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News Roundup Online Lending

·Nov. 10, 2016

Blackmoon Secures $2.5mn in Funding for Technology Development and Expansion

Blackmoon has secured $2.5 million in equity funding from Target Global, A&NN Group, Flint Capital and several private investors; company provides a technology platform for institutional investment in loans from balance sheet marketplace lenders; will use the funds for technology development and further expansion in the US. Source

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News Roundup Online Lending

·Jan. 11, 2017

Data Science in Marketplace Lending

A blog post from deBanked provides insight on the use of data scientists in marketplace lending; while these platforms are built on data programming and analytics, Justin Dickerson of Crossfold Analytics implies that the industry could be inefficiently utilizing data scientists resulting in lower returns and income losses broadly across the industry; Dickerson provides recommendations for data science groups specifically noting the importance of building a strong data science infrastructure with less focus on a massive data science team. Source

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News Roundup Online Lending

·Apr. 20, 2017

FundingSecure Launches New IFISA for UK Investors

FundingSecure has received its HMRC approval and launched its IFISA; FundingSecure offers secured loans and markets annual returns of 12% to 16%; investors can invest up to GBP20,000 ($25,569) in the IFISA in 2017 according to UK regulations. Source

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Asia/Pac News Roundup Online Lending

·Mar. 10, 2017

Yirendai Launches New Platform at LendIt USA

Yirendai launched a new open technology platform at LendIt USA called Yirendai Enabling Platform; the platform will provide solutions for data acquisition, anti-fraud technology and customer acquisition; it is primarily targeted for Chinese marketplace lenders; its capabilities are expected to help marketplace lending companies improve customer experience, increase efficiency, lower costs and mitigate fraud. Source

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News Roundup Online Lending USA

·Mar. 27, 2017

LendIt USA 2017 Keynote: Scott Sanborn – Investing in the Future

Scott first looks back at 2016, how Lending Club was able to overcome adversity and highlights some of the leading lenders in the space like SoFi and OnDeck; he makes the comparison that online lending is a lot like online retail and there are many lessons to be learned; just like customers in retail the customers in banking do not want to go to the local branch to get a loan, they want to have a seamless digital experience like they already have with the likes of Amazon; Scott offers three ideas to define the next decade for a stronger industry, evolve the customer experience, unleash the platform's potential and amplify the core innovations that serve customers; he finishes up with a few questions from audience members. Source

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Asia/Pac News Roundup Online Lending

·Nov. 4, 2016

Faircent Releases P2P Industry Report for India

Faircent has released a market report on P2P lending in India; report says Faircent, India's largest P2P lender, had funding of over Rs 1 crore ($150,000) in August 2016 and has been growing originations at a 15% to 20% monthly rate; report also provides insight on the platform's borrowers; in India, P2P platforms continue to await guidelines from the government which are expected to help improve business efficiency. Source

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News Roundup Online Lending USA

·Sep. 5, 2017

dv01 Outlines Marketplace Lending Originations

dv01 provides insight on marketplace lending originations with data from Lending Club, SoFi, Marlette and Prosper; shows 2Q17 originations increasing 21% from 1Q17 and up 52% from 2Q16 with average loan coupons increasing to 14.31%; average FICO has increased from 703 to 711 as firms tighten their credit underwriting. Source

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