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·Apr. 25, 2017

Kroll Assigns Ratings for Avant Loans Funding Trust 2017-A

Kroll Bond Rating Agency has assigned ratings for Avant's most recent securitization deal; the portfolio includes three tranches of consumer notes valued at $192.6 million; ratings for each of the three tranches are included in the chart above and range from A- to BB. Source

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News Roundup Online Lending USA

·Apr. 25, 2017

Lend Academy Article: The Five Key Elements for New Lending Club and Prosper Investors

Lend Academy provides a resource for new investors in Lending Club and Prosper; their article includes five basic principles for investing in the platforms; the five key elements for investing include: 1) diversify investments 2) expect defaults 3) keep cash balances low 4) automate investing and 5) avoid taxes by investing through an IRA. Source

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Europe Fintech News Roundup

·Apr. 25, 2017

The House Crowd Reports Five Years of Funding

UK crowdfunding platform The House Crowd has now reported five years of operations with fundraising of more than GBP44 million ($56.26 million); the platform offers property crowdfunding and P2P loan financing services; over 15,000 investors with the platform have earned over GBP9 million ($11.51 million) in returns; it has grown its staff to 20 with a number of recent additions and product expansions. Source

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Asia/Pac Fintech News Roundup

·Apr. 24, 2017

Chinese AI Firm SenseTime Raises $60mn

SenseTime has raised $60 million to support artificial intelligence technology development for the firm; SenseTime provides face recognition technology services to over 300 companies and also offers text, vehicle and image recognition; the firm's recent $60 million funding round was led by Shanghai-based Sailing Capital International. Source

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Europe News Roundup Online Lending

·Apr. 24, 2017

S&P Global Market Intelligence Releases Its 2017 UK Digital Lending Landscape Report

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

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Fintech News Roundup North America

·Apr. 25, 2017

U.S. Bank and Bank of Montreal Share Their Plans for Technology Investment

U.S. Bank and Bank of Montreal are investing in digital technology to overhaul their websites, mobile apps, call centers and ATMs; the two companies shared their plans with American Banker; common themes from both companies include: 1) invest in what customers are dissatisfied with 2) make incremental enhancements 3) create a unified customer experience 4) establish an innovation team and 5) test emerging technologies. Source

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News Roundup Online Lending USA

·Apr. 25, 2017

Lending Club’s Annual Shareholder Meeting

Lending Club will hold its annual shareholder meeting on June 6, 2017; three board directors are up for approval including CEO Scott Sanborn; stockholders owning shares as of April 10 can participate in the virtual event; the shareholder meeting will take place one month after the firm announces its first quarter earnings results on May 4. Source

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Asia/Pac Fintech News Roundup

·Apr. 24, 2017

Dianrong and Quark Finance Planning for Merger

Chinese online lender Dianrong has reported plans for a merger with Quark Finance; the merger will create a broadened set of credit offerings; Dianrong is known as the "Lending Club of China" and Quark Finance offers a range of financial services for consumers and small business owners. Source

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Asia/Pac Fintech News Roundup

·Apr. 24, 2017

Alibaba and Tencent Outpacing Competitor Baidu as E-Commerce Grows in the Eastern World

Chinese e-commerce giants Alibaba and Tencent are leading e-commerce market growth, seeking to do everything from cloud computing to digital payments; the Chinese market infrastructure is also helping their business growth and their business models are rivaling comparative US companies; Jack Ma's Alibaba is expanding rapidly in the global markets with partnerships and acquisitions and Tencent is following closely with numerous acquisitions as well; investment bank Goldman Sachs estimates China's online retail market to double in size by 2020 to $1.7 trillion and aggressive market expansion from Alibaba and Tencent appears to be successfully supporting that estimate. Source

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Europe News Roundup Online Lending

·Apr. 24, 2017

Assetz Capital Reports Four Year Anniversary and 240mn British Pounds in Originations

Assetz Capital has now been in business for four years with 240 million British pounds ($307.61 million) in loan issuance; the platform focuses on lending for SMEs and says it plans to double its current originations in the next twelve months; the firm offers secured loans that generate annual returns of 3.75% to 18%. Source

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