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Peer to Peer Lending

·Nov. 9, 2017

Marcus takes Center Stage at Goldman Sachs After One Year

Last week I was at the Digital Lending + Investing conference in New York. One of the most interesting sessions...

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Fintech News Roundup USA

·Oct. 19, 2017

Affirm Looks to Add Financial Advice to Product Set

Consumer lending Platform Affirm is looking to move beyond lending and into the financial advice space; currently Affirm works with retails to offer consumers a credit option when making a purchase; they are exploring ways to help customers better understand their debt and offer a way to help them reduce interest payments; Affirm has lent over $1bn to date Source.

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Europe Fintech News Roundup

·Oct. 4, 2017

UK Consumer Lending is One of the Fastest Growing Segments in Fintech

Consumer lenders who are repaid from borrower’s salaries have raised $232mn recently in the UK; Insurer Legal & General are set to announce a $53mn Investment into SalaryFinance for their US expansion; other market leaders in this segment include Neyber who recently raised $179mn in debt financing; the companies have built relationships with more than 50 groups in the UK and tying repayment to salaries helps to keep defaults extremely low. Source.

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News Roundup Online Lending

·Apr. 12, 2017

Consumer Lending Leaders of Tomorrow

Understanding the products that work for you as a consumer is a key question all borrowers ask themselves; at LendIt USA 2017 the panel entitled Consumer Lending Leaders of Tomorrow discussed some of the up and coming platforms in the market today; LendingUSA focuses on point of sale financing to offer installment loans for expenses like a medical procedure, Uplift Financial uses 600 million pieces of data to tailor the best loan product to you from their network, MoneyLion provides financial wellness advice to help the consumer better understand the loan that fits their situation and BorrowersFirst uses their technology to offer a low cost product to their borrowers; these lenders have taken the time to understand consumers so they can provide the type of variety people are looking for in a market that continues to evolve. Source

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News Roundup Online Lending

·Oct. 26, 2016

CreditMate Offers Online Lending for Motor Bikes in India

An online lending startup with a unique concept has raised $500,000 in seed funding; CreditMate seeks to offer online loans for bikes and scooters in India; the company has partnered with 25 dealers in Mumbai and the process works similar to an auto loan; borrowers can identify the bike of their choice and work with the dealer for purchase and loan approval. Source

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Fintech News Roundup USA

·Nov. 7, 2017

Banks are Starting to Show Their Advantage in Online Lending

While banks might have been a bit slow to react to online lenders they are certainly taking notice today and changing how they operate; fintech companies originated about 30 percent of unsecured consumer loans in 2016 according to TransUnion, up from 1 percent in 2010; banks have started to take notice and compete with fintech companies head on and in some cases partner with them as well; banks hold significant advantages over online lenders in cost of capital and customer acquisition costs which could erode that 30 percent market share that fintechs have built. Source.

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Europe Fintech News Roundup

·Oct. 9, 2017

4finance Crosses €5bn in Loan Originations

The short-term consumer lender has originated over €5bn ($5.8bn) since launching in 2008; the company has focused on markets in Europe and the Americas; the company’s mix of funding sources includes bond issuance and bank deposits from the acquisition of TBI Bank; Moody’s also recently upgraded their corporate rating from a B2 to a B3. Source.

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Fintech News Roundup

·Oct. 2, 2017

China’s CBRC Warns of Consumer Lending Risks

The CBRC issued a warning that the surge in consumer loans could pose a risk to the country's lending system; they noted that lenders should not try to push up the consumer leverage ratio and they should take lessons from the US subprime mortgage crisis; recent reviews of loan books show misuse of loans for housing down payments and banks need to stay closer to lending regulations. Source.

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Europe News Roundup Online Lending

·Oct. 28, 2016

Initiative Ireland Seeks to Raise 2mn Euros for New P2P Lending Platform

Initiative Ireland is a new peer-to-peer lending platform; they are planning to raise 2 million euros for startup operations through Ireland's Employment and Investment Incentive Scheme; the firm hopes to provide returns of 5% to 7% per year to investors and total loan savings of 20% to 30% for borrowers versus traditional bank lenders. Source

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News Roundup Online Lending Regulation

·Oct. 26, 2016

More Regulation of Lending and Data Privacy Recommended in Kenya

This week, the Consultative Group to Assist the Poor (CGAP) proposes improvements to the loosely-regulated fintech sector in sub-Saharan Africa, particularly Kenya; CGAP is a global partnership of 34 leading organizations advancing financial inclusion; they note fintech companies may inappropriately publicize a borrower's personal information if they default on a loan, and others may sweep a user's social media data with minimal notice to the consumer; a key step, by law and proactive process, is to rigorously include all fintech platforms under existing laws for lenders in Kenya. Source

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