USA

Latest

USA

·Jan. 31, 2017

Executive VP Eric Thaller Leaves Prosper

Prosper has reported the loss of another company executive a few months after the resignation of its former CEO Aaron Vermut; Eric Thaller, executive vice president of capital markets, has left the firm to join Sunbit, a consumer lending startup offering point of sale credit solutions for retail businesses; Thaller was a lead advocate for institutional investment in marketplace loans and directed the firm's institutional investment business. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

ABA Seeking Marketplace Lending Partner

According to Reuters, the American Bankers Association (ABA) is soliciting a marketplace lending partner; the Association acts as a consultant for small banks with less than $250 million in assets and the partnership would help the ABA in its vendor consulting efforts for these small banks; small banks are one subset of the market that has expressed significant interest in online lending and online lending partnerships. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

SoFi’s New Securitization

PeerIQ analyzes SoFi's new securitization, SCLP 2017-1; SoFi's unsecured consumer loans securitization portfolio was priced on January 20; the securitization was oversubscribed resulting in final collateralized loans of $655 million; the securitization is now the industry's largest securitization portfolio issuance; it included two rated tranches from DBRS and Kroll; tranche A included loans valued at $504 million with an A rating from both DBRS and Kroll; tranche B included loans valued at $60 million with a BBB rating from both DBRS and Kroll. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 27, 2017

PayPal Is Shifting from a Balance Sheet to a Hybrid Model

News Roundup Online Lending USA

·Jan. 26, 2017

TransUnion Introduces Fraud Solution

TransUnion has introduced a fraud solution for businesses; the firm will market IDVision, a comprehensive solution that uses advanced analytics technology to interpret and analyze transactions for fraud detection; the solution can identify and alert businesses of fraud at the time of transaction and also monitor portfolios for fraudulent activity. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

PayPal Discusses Potential Amazon Partnership

PayPal's fourth quarter earnings release revealed a number of interesting developments for the company; the firm has been steadily growing its partnerships with e-commerce businesses which has helped increase the number of payment transactions per customer; in the fourth quarter PayPal reported 31.1 transactions per active customer which was an increase from 30.2 in the previous quarter and 27.5 in the comparable quarter; PayPal's CEO Dan Schulman has also discussed a new partnership with Amazon that would allow Amazon customers to pay for purchases with PayPal which would further support increases in its customer account activity. Source

PayPal Earnings Report

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

How One Regional Bank Built a Platform to Compete with Online Lenders

Boston-based Eastern Bank hired a former Capital One executive, Dan O'Malley, to help the bank learn how it can compete with the growing online lending industry; through his research Dan learned that 5% of Eastern's business customers used an online lender and the primary reason for this was quick access to capital; Eastern now has a competing product to offer small business customers and has even begun to license out their technology to fellow banks; Eastern believes their credit scorecard will allow for banks to utilize their new technology more than they would with an online lender because of their adherence to banking regulations. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 30, 2017

Climb Credit Expanding the Student Loan Credit Underwriting Model

Climb Credit is integrating earnings potential into its credit underwriting models for student loans; firm offers student loans for individuals and through partnerships with educational institutions; its credit underwriting process for a student loan includes multi-factor data on the earnings potential of the loan's borrower in addition to the individual borrower's credit score. Source

Read Full Story

Fintech News Roundup Real Estate USA

·Jan. 26, 2017

House Selling Platform OfferPad Raises $260mn

OfferPad is a real estate platform to help homeowners sell their homes; investors include private funds managed by LL Funds, LLC and an investment management firm in Philadelphia; company plans to expand to additional markets; similar to competitor Opendoor, OfferPad buys homes from homeowners; current markets include Phoenix, Las Vegas, Salt Lake City, Tampa and Orlando; the company has 100 employees and will launch in Los Angeles soon. Source

Read Full Story

News Roundup Online Lending USA

·Jan. 26, 2017

AutoGravity Expands to 46 States

AutoGravity's mobile app services can now be accessed by consumers in 46 states; the firm first launched its mobile app in December 2016 for borrowers in California; the mobile app will now allow consumers in 46 states to obtain four financing offers for a new or used car. Source

Read Full Story