Flexiti Financial has announced Diane Brisebois and Rick Padulo as the first two members of its advisory board; Diane Brisebois is president and CEO of the Retail Council of Canada; Rick Padulo is Chairman and CEO of Padulo Integrated, which provides multi-media retail communications services; Flexiti Financial is a growing provider of point-of-sale financing technology for retailers and recently received the Emerging Consumer Lending Platform award at LendIt USA 2017; its new board advisors will seek to support the firm's growth and advise the firm on its strategy for business development and retail expansion. Source
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Online Lending
Online lenders don't have a deposit base to lend out money, so they need to look at different forms of capital sources and Paul Fielding of SoFi talked about these options at LendIt USA 2017; they break up the investor pool into a few different buckets; investors looking to buy whole loans, their securitization shelf that has thus far done over 20 securitizations and direct capital from banks; understanding the right fit for the right investor and how that fits into the capital buckets is the key; while taking questions Paul discussed the recent formation of 1940 Act funds and believes the likes of BlackRock and AllianceBernstein could move into the consumer whole loan market as pensions begin to look at playing in the space; he also talked about the ABS markets being fickle, but in his view all markets are fickle as investors look at their allocation strategies. Source
YieldStreet has reached $100 million in lending in less than eight quarters; the firm markets returns of 8% to 20% with a peer-to-peer lending model that offers secured loans; investment minimums begin at $5,000 and the platform has a range of investors including accredited, high net worth, family offices, registered investment advisors and institutional investors. Source
S&P Global Market Intelligence has released its annual UK Digital Lending Landscape report; as the founder of the first marketplace lending platform in 2005 the UK has an established industry and has received significant regulatory attention and support from the Financial Conduct Authority; the 2017 report provides details on originations from the region's top lenders; it also reports on IFISAs, reserve funds, the government's integration, Brexit and SME lending. Source