Insurtech startup Lemonade announced “We’re opening up the Lemonade platform to the world!” says Shai Wininger, co-founder of Lemonade; the new open API will allow Lemonade to be seamlessly integrated with commerce websites, financial advisor apps, property management companies, payment software processors, IoT [internet of things] platforms and more as Banking Technology reports. Source.
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Lend Academy provides more details on defaults triggering a breach in a SoFi securitization portfolio; the portfolio reporting the defaults was SoFi's first securitization of unsecured consumer loans, the SoFi Consumer Loan Program 2015-1 LLC; given the terms of the deal and the overall characteristics, the breach does not seem to have broad market indications; the deal arrangers set the trigger level at 3% which is a relatively low rate and the cumulative net loss is only reported to be marginally above the trigger; a chart from PeerIQ also provides more details on the cumulative net loss rates for SoFi. Source
