p2p/online lending


Monzo insists new short-term loans won’t be at Wonga rates

via The Guardian 

Digital bank Monzo is dipping its toes into the short-term loans market a year after Wonga’s collapse, but insists it will not target customers who usually turn to payday lenders.

The challenger bank formally launched loans for its 2.5 million customers on Thursday, following a trial with around 4,000 of its users. Those who qualify will be able to borrow as much as £15,000 for up to 60 months, or take loans as small as £200 for as little as 90 days.

That kind of wage top-up has been the hallmark of short-term or payday lenders, whose customers borrow an average of £300 over three months. (more…)

Banks, p2p/online lending

August 15, 2019


Inside OakNorth’s plan to take its lending technology global

via Tearsheet

As a challenger bank, OakNorth charts a different course. While Revolut, Monzo, and N26 focus on putting their digital current accounts in the hands of millions, OakNorth doesn’t even offer a current account. While other challengers are racing to acquire banking licenses all over the world, OakNorth is happy with just a UK license.

OakNorth is also posting profits while other challengers aren’t.  The bank announced a £33.9m profit for 2018, up 220 percent from 2017. (more…)

Banks, p2p/online lending, SME

March 27, 2019


Starling Debuts New Business Lending Strategy


U.K. challenger Starling Bank is moving forward with plans to introduce business lending services.Starling’s Head of SME Banking Stuart Doignie spoke with the publication during the RFi Group Global Business Banking Summit, noting that the bank plans to introduce unsecured business loans sometime this year. Loans may be between £5,000 ($6,540 USD) and £250,000, or larger, depending on demand and interest.

However, the company, which operates on a mobile-first platform to target smaller businesses, will not aim for an entirely automated lending service. (more…)

Banks, Mobile-first banks, p2p/online lending

March 8, 2019

KeyBank Acquires Small Business Lending Platform Bolstr

Digital lending platform for small businesses Bolstr has been acquired by KeyBank. Terms of the deal were not disclosed. (more…)

Banks, p2p/online lending

June 25, 2018


P2P Lender RateSetter Has Now Topped £2.5 Billion in Loan Originations.

UK based peer to peer lending platform RateSetterhas topped £2.5 billion in loan originations, according to a note from the company. The online lender provides credit to both individuals and UK SMEs. The milestone comes just as RateSetter announced that it had generated £100 million in interest for its investors, without any losses to investors since the company was launched in 2010. RateSetter has incorporated a provision fund to mitigate investor risk and so far the fund has been effective. To date, investors have earned, on average, 4.4%. (more…)

Global trends, p2p-payments, p2p/online lending

May 25, 2018


Lendio Launches Lender Turndown Program

By Julie Muhn for Finovate

Small business loan marketplace Lendio is helping lenders turn a negative response into a positive one through the unveiling of its Lender Turndown program this week. (more…)

p2p/online lending

April 10, 2018

Kabbage and Ingo Money Team Up to Power Faster Loan Payouts to SMEs

Online alternative lender Kabbage has teamed up with push payments innovator Ingo Money to get commercial loan proceeds to small and medium sized businesses that much faster. Kabbage will use Ingo’s Push Platform, with its push-payments-in-a-box technology, to disburse loan payouts to customer accounts securely and in real time. (more…)

p2p/online lending

April 10, 2018

How Can Fintech Boost the Micro-loan Scene?

a member-uploaded imageBy Jasmine Morgan – GFT Group

While the citizens of Norway, Finland, and Denmark all have at least one bank account, there are developing countries like the Central African Republic, Niger, and Madagascar, where the percentage of the unbanked population rises well above 85%. The poverty rates in such places are quite high, and is part of a vicious circle, since the inability to get a loan or to make deposits keeps people living day to day. The only available financial resource is social borrowing from friends and family. Yet, rapid technological advancements could turn this situation around.


p2p/online lending

March 26, 2018


Fintech Circle and Abu Dhabi Global Market prep fintech education courses

By Funding Circle,

Fintech Circle, the leading global community of FinTech entrepreneurs, angel and VC investors, financial services professionals and FinTech thought-leaders and its Fintech Circle Institute, is poised to launch its comprehensive range of Fintech Education Courses for the United Arab Emirates (UAE), in collaboration with Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi. (more…)

Fintech news, Hotnews, p2p/online lending

March 23, 2018

LendingTree rolls out free credit monitoring service

By Lending Tree,

LendingTree, the nation’s leading online loan marketplace, today announced the launch of a free credit monitoring service within the My LendingTree platform. (more…)

p2p/online lending

March 23, 2018

Fundbox addresses SME access to credit with Fundbox Pay

By Fundbox

Today Fundbox, the leading small business growth company, announced the launch of Fundbox Pay, a new payment and credit solution servicing the $4.5 trillion small business-to-business (SMB2B) transactional market in the U.S. (more…)

Fintech news, Global trends, p2p/online lending, SME

March 16, 2018

Elevate Milestone: Customers Have Saved More Than $3 Billion Over PayDay Loan Alternatives

Elevate Credit, Inc. (Elevate), a tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, announced on Monday its customers have saved more than $3 billion to date, versus what they would have paid for payday loans. $1.3 billion was saved in 2017 alone. (more…)

Fintech news, Global trends, p2p/online lending

March 6, 2018

LendingPoint buys LoanHero

By Lending Point

LendingPoint, the company working to revolutionize access to consumer credit, today announced that it has acquired LoanHero, a leading fintech platform for point of sale finance. (more…)

p2p/online lending

January 17, 2018

Lending Marketplace Lendix Raises €200 Million Institutional Financing to Trailblaze European Alternative SME Finance

Lendix’s historical investors are renewing their trust in the Paris-based European SME marketplace lender. The European Investment Bank Group (EIB), CNP Assurances, Eiffel IM, Groupama, Zencap AM, Matmut and Decaux Frères Investissements are among the first investors joining to finance Lendix’s latest investment vehicle to fund unsecured loans to SMEs in France, Spain and Italy. New institutional investors from banks and asset management firms in Spain and Italy are joining. As of now, €120 million of the planned €200 million are already committed and the first loans from this fund will start rolling out as soon as February. (more…)

Fintech news, Global trends, p2p/online lending

January 17, 2018


P2Binvestor CEO Krista Morgan on Marketplace Lending: What to Expect in 2018

P2Binvestor CEO Krista Morgan founded P2Binvestor in 2012 with a mission to help growing businesses succeed. Morgan is not only CEO of a fast growing Fintech, she is also the cohost of the podcast “Women Who Startup Radio”, an ardent mentor to other women entrepreneurs who speaks regularly on business finance, fundraising, and scaling a startup. (more…)

Global trends, p2p/online lending

December 26, 2017


UK alternative finance market is now worth £4.6 billion

The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion, buoyed by increased institutional investment and a sustained pick up in innovative business lending models. (more…)

Global trends, Hotnews, p2p/online lending

December 11, 2017


SoFi partners WSFS Bank for cash management account

US online lender SoFi is gearing up to launch a cash management account early next year after inking a payment processing and debit card sponsorship agreement with WSFS Bank. (more…)

Banks, Global trends, p2p/online lending

December 8, 2017


MoneyMe secures A$120m capital facility

By MoneyME

Australian consumer lending fintech, MoneyMe, has finalised an AU$120 million asset-backed wholesale securitization facility led by $100 million from global investment manager, Fortress Investment Group, and joined with $20 million of bonds issued by corporate advisory, Evans & Partners. (more…)

Deals, p2p/online lending

November 28, 2017


How Personal Loans Help People Improve Their Daily Lives

The good thing about people is that they always find a way to make life easy, which is exactly why the banking system exists. With banks, people can get loans and finance their various development projects even when they don’t have all the cash needed. For example, if you’re building or buying a home and you don’t have enough money to cover the expenses, you can get a loan or mortgage to finance your plan.


Hotnews, p2p/online lending

November 23, 2017


ICICI Bank and Paytm partner for digital credit provision


Paytm, India’s largest payments platform has partnered with ICICI Bank, the country’s largest private sector bank by consolidated assets, to jointly launch ‘Paytm-ICICI Bank Postpaid’, the most seamless way to access interest-free short-term digital credit. (more…)

Banks, p2p/online lending

November 21, 2017


BNP Paribas buys stake in SME credit specialist Caple

BNP Paribas Asset Management (BNPP AM) has bought a 10% stake in a new alternative SME credit specialist called Caple as part of a wider strategic alliance. (more…)

Banks, p2p/online lending, SME

November 18, 2017


Kabbage Announces New $200 Million Asset-Backed Revolving Credit Facility With Global Financial Institution Credit Suisse

By Samantha Hurst for Crowdfundinsider

Kabbage Inc., a global financial services, technology and data platform serving small businesses, announced on Thursday its new $200 million asset-backed revolving credit facility with Credit Suisse, a global financial institution. This news comes less than a month after Kabbage announced it and ING were extending its strategic partnership with Italy and France. (more…)

Global trends, p2p/online lending, SME

November 18, 2017


Online Lender Lendix Launches Flexible SME Bridge Loans in France, Spain & Italy

Lendix, online lender for SMEs in continental Europe, has announced the launch of a new financing product: the Flexible Bridge Loan. This product is designed to will allow a greater number of French, Spanish and Italian SMEs to benefit from the speed of execution of Lendix’s lending platform while leaving them the possibility of setting up an overall refinancing solution with other financial institutions. (more…)

Fintech news, Global trends, p2p/online lending

November 16, 2017


Chinese microlender Lexin files for a $500m US IPO

By Timmy Shen for tech Node

Lexin Fintech Holdings, an online microlending platform targeting young Chinese consumers, on Monday filed for IPO in the US to raise $500 million. (more…)

Deals, p2p/online lending

November 14, 2017


Online Lending And A Tale Of Two Fed Studies


Online consumer lending – in a variety of forms – has grown explosively over the last decade. In 2010, digital lenders originated $249 million in unsecured personal loans, and by 2016 that number had grown ninety-fold. (more…)

Banks, p2p/online lending

November 14, 2017


SoFi Completes Largest Consumer Loan Securitization to Date

On Friday, SoFi announced it has completed a $727 million issuance of SoFi Consumer Loan Program 2017-6 (“SCLP 2017-6”) notes, making it the largest offering of securities backed by consumer loans and is SoFi’s 11th ABS transaction this year, bringing the lender’s total issuance for 2017 to $6.1 billion.  (more…)

Global trends, Hotnews, p2p/online lending

November 13, 2017


ArchOver surpasses £50 million lending milestone

ArchOver, the peer-to-peer (P2P) business lending platform, has facilitated over £50 million of lending with no losses or late payments. (more…)

Fintech news, Global trends, Hotnews, p2p/online lending

November 7, 2017


Chinese fintech company Qudian spikes nearly 40 percent in IPO

  • The stock is traded on the NYSE under the ticker symbol QD.
  • The Chinese fintech company is backed by Alibaba and posted a 2016 net income of $85 million.
  • Shares priced at $24 in the $900 million IPO and opened at $34.35.

Chinese fintech company Qudian jumped nearly 40 percent on its opening day of trading on the NYSE Wednesday. (more…)

p2p/online lending

October 23, 2017


PayPal Partners with Kiva on Loans for Entrepreneurs

PayPal has partnered with Kiva to help provide loans to entrepreneurs. This is the second time PayPal and Kiva have empowered PayPal users to provide loans while receiving a Kiva credit. Last year the campaign say more than 10,000 PayPal customers and employees make loans to entrepreneurs around the world. This year, PayPal would like to see that number climb higher. (more…)

Hotnews, p2p/online lending, Payment processors/providers/gateways

October 18, 2017

Lenddo Forms New Partnership With EFL Team to Lead Financial Inclusion Revolution

By Samantha Hurst for Crowdfund Insider

Lenddo announced on Tuesday it has formed a new partnership with Entrepreneurial Finance Lab (EFL). The companies also reported they are working together to provide a suite of credit scoring and identity verification products to more than 20 emerging markets. Lenders will be able to use the duo’s platform to provide individuals globally with unprecedented, affordable access to convenient financial products. (more…)

Fintech news, Global trends, p2p/online lending

October 18, 2017