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·Aug. 29, 2017

Chart of the Week: Lending Club and Prosper’s Q217 Originations

Consumer lenders Lending Club and Prosper are reporting growth in originations; for the second quarter Lending Club loan originations reached $2.1473 billion, increasing 10% from the previous quarter and the second quarter of 2016; Prosper originated $774.7 million worth of loans in the second quarter of 2017, an increase from $586 million in Q1 and $445 million in the second quarter of 2016; both companies had high Q1 2016 originations which has kept first half 2017 totals down in comparison to 2016. Source

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News Roundup Online Lending USA

·Aug. 29, 2017

SoFi Surpasses $5bn in Personal Loans

In a press release SoFi shared that members have cumulatively paid off over $5 billion in credit card debt; members reduced their effective interest rate by 42% and saw credit scores rise by 17 points on average; SoFi borrowers can borrow up to $100,000 and choose a term of three, five or seven years; over 70% of borrowers report using funds for credit card refinancing and loan consolidation. Source

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Fintech News Roundup

·Mar. 21, 2017

Business Insider Breaks Down Participants in Major Blockchain Consortiums

The graphic above shares the participation of companies in various blockchain consortiums including R3, Digital Asset Holdings, Hyperledger and Ripple; the Illinois Department of Financial and Professional Regulation (IDFPR) joined R3 last week becoming the first US regulator to join the consortium. Source

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Europe News Roundup Online Lending

·Jan. 25, 2017

Funding Circle Exits Spain, Reinvests in Europe

Upon their acquisition of Zencap, Funding Circle took up operations in Germany, the Netherlands and Spain, though now you can remove Spain from that list; according to Ryan Weeks of AltFi, this was due in large part to a low quality pool of borrowers and limited understanding in Spain of P2P lending; in terms of their loan book this was only a fraction of global originations for Funding Circle; they will now be able to allocate more resources to Germany and the Netherlands where they are looking to increase their market share. Source

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Finance News Roundup Online Lending

·Nov. 1, 2016

PeerIQ Releases Monthly Industry Update

PeerIQ has released its monthly marketplace lending update for October; focus of the report is on the 2017 forecast for marketplace lending securitizations; PeerIQ forecasts 47% year-over-year growth ($11.3 billion) in new ABS issuance with 52% growth in new originations for its base case estimate; sees high demand continuing for securitized products however institutional investors will likely be more interested in shorter duration loans to manage interest rate risk as US rates are expected to rise; PeerIQ reports continued support from rating agencies with high ratings; expects leading securitization issuers in 2017 to be SoFi, Avant and Marlette. Source

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Fintech News Roundup

·Nov. 3, 2016

Half of the World’s Banking Customers Use One Fintech Product

A new study entitled the World FinTech Report (WFTR) from Capgemini and LinkedIn finds that half of the banking customers worldwide use at least one fintech service or product; the report shows that younger customers and emerging markets adopt fintech more frequently, as China and India lead the way with 75% of customers using fintech; other important statistic from the report show that 17.4% of investment management customers rely on fintech solely, 46% of banking customers use more than one fintech firm and 60% of traditional financial firms view fintech companies as long term partners. Source

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Europe Fintech News Roundup

·Nov. 16, 2016

Sweden’s Riksbank Looks to Issue National Digital Currency

The world's oldest central bank is now looking to the future; Riksbank is looking to issue a national digital currency as they have seen a 40% drop in use of notes and coins since 2009; they do not view the digital currency as a replacement for notes; the new currency would be viewed as complementary; challenges lie ahead as there is no blueprint for this; Cecilia Skingsley, deputy governor at the Riksbank, told the Financial Times, "This is as revolutionary as the paper note 300 years ago. What does it mean for monetary policy and financial stability? How do we design this: a rechargeable card, an app or another way?" Source

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Fintech News Roundup

·Dec. 21, 2017

eToro Partners with CoinDash on Blockchain Trading Product

eToro partnered with CoinDash to develop a set of social trading products built on blockchain technology; eToro CEO Yoni Assia tells Banking Technology, “With thousands of new coins in the market, it can be difficult for mainstream investors to navigate this new space. The CoinDash team is enabling users to better analyse their investments in cryptocurrencies, and to learn from others.”; the eToro marketplace has more than 4.5 million users in over 170 countries, they allow users to trade based on copying or following other individual’s portfolios and recently added access to cryptocurrencies. Source.

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Europe Fintech News Roundup

·Oct. 6, 2017

Lend Academy Podcast: LendIt Europe 2017 Preview

The LendIt content team that created the agenda for our upcoming European event on October 9 & 10 share:

The main trends that are happening in European fintech today.
What is different and similar when it comes to fintech in Europe, USA and China.
How LendIt Europe is going to work and what attendees can expect.
The networking opportunities for attendees at LendIt Europe.
How Brella, our 1-to-1 networking tool, works.
Some of the highlighted sessions at the show.
How attendees will be able to get the most out of their two days at LendIt Europe.

Source

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Fintech News Roundup

·Oct. 3, 2017

Concerns Over Pump and Dump Schemes with ICOs

With more than 80% of ICOs doing presales there are concerns over investors who have preferential treatment selling after the ICO; article discusses some of the largest investors in the space including Blockchain Capital, Pantera Capital and Polychain Capital; the possibility of pump and dump schemes has also drawn the attention of regulators. Source

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