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p2p/online lending
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2905

Will This Online Lender’s Risky Business Model Hold Up?

By Zeke Faux for Bloomberg

For Avant’s Al Goldstein, being the quickest online-loan startup to lend $1 billion isn’t that cool. He wants his 2½-year-old company to be worth $100 billion, on the scale of Bank of America or Citigroup. “Our long-term vision for Avant is to build the Amazon of financial services,” says Goldstein, 34. “The opportunity is massive.” (more…)

p2p/online lending

October 2, 2016

871

Lydia grabs $7.8 million for its peer-to-peer payment service

By Romain Dillet for TechCrunch

French startup Lydia raised $7.8 million (€7 million) from New Alpha AM and Oddo & Cie in order to expand to other European countries. The startup lets you easily pay back your friends without any fee using a mobile app — among other things. Think about it as a sort of Venmo for France. (more…)

Deals, Mobile payments/banking, p2p-payments, p2p/online lending

September 29, 2016

766

“Good guy” loan startup LendUp fined $6.3M for overcharging

By Josh Constine for TechCrunch

LendUp was supposed to be different than the payday loan sharks that rip off the poor when they need emergency cash. But in its early days, LendUp charged customers illegal fees, miscalculated interest rates, falsely advertised loans nationwide that weren’t available there and misled people that borrowing from LendUp would boost their credit score. (more…)

Fintech news, p2p/online lending

September 28, 2016

786

SocietyOne Strikes Up Partnership with Beyond Bank, Reeling in $1.5 Million

By Julie (Schicktanz) Muhn for Finovate

Australia-based P2P lender SocietyOne announced a new bank partner today. The company has teamed up with Beyond Bank Australia, a $4.8 billion customer-owned financial institution. (more…)

Banks, Deals, p2p/online lending

September 27, 2016

864

Microlending site UangTeman raises pre-series A to lend banks a hand

By Nadine Freischlad for TechInAsia

Indonesian microlending site UangTeman raised a pre-series A round of funding of an undisclosed amount, the startup said today. (more…)

Deals, Indonesia, p2p/online lending

September 26, 2016

SoFi launches employee benefit programme to reduce student debt

SoFi announced today the creation of SoFi at Work, a benefit program for companies to help their employees reduce their student loan burden and build financial wellness. (more…)

p2p/online lending

September 21, 2016

Pariti taps into Zopa API to help millennials pay off card debt

UK money management app Pariti has formed a referral partnership with P2P financing outfit Zopa to help users swap out their credit card debt for a consolidation loan. (more…)

p2p-payments, p2p/online lending

September 7, 2016

543

U.K. Fintech Firm LendInvest Looks To Double Down After Brexit Vote

By WSJ

The threat of Brexit has failed to dent the plans of LendInvest, the U.K. online property lender that is looking to double in size. (more…)

Hotnews, p2p/online lending

September 6, 2016

J.P. Morgan in a Car-Lending Chase

J.P. Morgan Chase & Co. is trying to make the car-buying process easier. (more…)

Analytics, Banks, p2p-payments, p2p/online lending

August 26, 2016

859

Here Are Some of China’s New Rules on P2P Lending

BY REUTERS

The government is trying to clean up the giant $60 billion sector. (more…)

InspirAsia, p2p/online lending

August 24, 2016

989

Fintech B2B small business lending marketplace Bigstone raises $3 million

By Yolanda Redrup for AFR

Fintech start-up Bigstone has raised $3 million from a range of investors, including ASX-listed diversified investments and venture capital firm CVC, to grow its small business lending marketplace and offer an alternative to the big banks.

The seed funding round is the first capital raised by the start-up, which connects small businesses wanting to borrow up to $250,000 with non-bank lenders.

Other major investors in the round were the founders of Bangkok-based fund Lighthouse Venture Partners Paniti Junhasavasdikul and Narith Phadungchai, in addition to private investors.

Bigstone co-founder and chief executive Boyd Pederson said the capital would be used to fuel expansion, grow its marketing team and to continue developing the marketplace.

(more…)

Cashless, Deals, Mobile payments/banking, p2p-payments, p2p/online lending

August 8, 2016

P2P Lending Must Continue to Exist – Greed and Laxness Shouldn’t

By LTP

Over the past six months, alternative finance, in particular, P2P lending, has gone through a trial by fire, where several events have scandalized and bruised the reputation of the industry. (more…)

Fintech news, Global trends, InspirAsia, p2p-payments, p2p/online lending

August 1, 2016

Online Lending Takes Root in Korea, Spurring Rush for Regulation

By  for Bloomberg

South Korean investors beset by Asia’s third-lowest benchmark yields are embracing peer-to-peer loans that offer average rates of about 9 percent and not a lot of information about where the money winds up. (more…)

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

July 25, 2016

1148

Lending Club Scandal Provokes Major UK ‘Peer-To-Peer’ Investigation

By Roger Aitken for Forbes

Campaign for Fair Finance (CFF) founder Dr Roger Gewolb has welcomed the intervention of the UK Financial Conduct Authority’s (FCA) new chief executive Andrew Bailey as an investigation gets underway into peer-to-peer (P2P) lending, a relatively new internet-based way of obtaining a loan. It comes amid concerns in the US and UK about how safe the sector is and protections afforded to consumers. (more…)

Analytics, Banks, p2p-payments, p2p/online lending

July 23, 2016

1018

Peer-To-Peer Lending In China – 30% Interest, Pays Monthly…

Peer-To-Peer Lending In China by Henry Zhang, CFA – Matthew Asia

While I was on a recent research trip in China, I overheard something in an elevator that was quite worrisome. Two young office workers, who happened to be sharing the same elevator with me, were discussing an investment product that one of them had purchased a few months back. “The product offers30% interest and pays interest monthly,” she told her friend. “I’ve already received several monthly payments. And I think it is trustworthy…” (more…)

Global trends, Hotnews, InspirAsia, Mobile payments/banking, p2p/online lending

July 23, 2016

Online Marketplace Lending — Recently Misunderstood?

By Nav Athwal for Forbes

Recent news reports would have investors believe that the entire online lending sector is in trouble – when in fact, default rates remain largely in line with expectations and securitizations of consumer and student loans are on the upswing. And while many reports paint the entire online sector with a single brush, asset-based lending (such as collateralized real estate loans) is a different animal from consumer credit lending — a key distinction for investors. (more…)

Banks, Global trends, InspirAsia, Mobile payments/banking, p2p/online lending

July 19, 2016

1110

Slump Might Turn Anti-Bank SoFi Into a Bank

By PETER RUDEGEAIR and TELIS DEMOS for WSJ

Mike Cagney, the boss at online lender Social Finance Inc., said in August that the traditional finance industry is “the second biggest waste of human capital outside the IRS” and full of “significantly overpaid people who do very little in terms of value to society.” (more…)

Analytics, Fintech news, Global trends, p2p-payments, p2p/online lending

July 13, 2016

959

LendingClub’s Newest Problem: Its Borrowers

By TELIS DEMOS and PETER RUDEGEAIR for WSj

Charge-off rates have risen as much as 38% since 2013 at the largest online lender

(more…)

Analytics, Fintech news, Global trends, Mobile payments/banking, p2p-payments, p2p/online lending

July 13, 2016

Ex-LendingClub CEO Laplanche Is Selling $20 Million of Stock

By Jennifer Surane for Bloomberg

Renaud Laplanche, the LendingClub Corp. founder who stepped down as chief executive officer in a May shakeup, is selling stock in the company valued at $20.1 million.

Laplanche disclosed a plan to execute options for 4.63 million shares of the San Francisco-based company in a filing dated June 29. Calls to Laplanche and LendingClub weren’t immediately returned.

Laplanche, 45, resigned as chairman and CEO in May, setting off a slide in LendingClub’s stock. The company, which matches consumers seeking loans with investors willing to fund them, said the exit was prompted by two incidents: Staff had altered application dates on some loans before their sale, and Laplanche failed to disclose his interests in a fund that LendingClub was considering investing in.

Deals, Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending, People of fintech

July 9, 2016

886

Russian startup Blackmoon launches online lending platform in the U.S.

By Paul Sawers for Venture Beat

A Russian startup is launching in the U.S. this week to target the lucrative online lending market. (more…)

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

July 6, 2016

983

Boom, bubble or bust for fintech?

by  for Techcrunch.com

The term “fintech” has become all the rage; investors and media can’t stop talking about it. Many people also have been talking about the “bubble” in the tech industry, but could there be a “bubble” in fintech, as well? (more…)

Analytics, Banks, Global trends, Hotnews, p2p-payments, p2p/online lending

June 16, 2016

1138

Latest threat to online lenders: ‘stacking’ of multiple loans

By HEATHER SOMERVILLE, OLIVIA ORAN AND JOY WILTERMUTH for Reuters 

Many online lenders have failed to detect the “stacking” of multiple loans by borrowers who slip through their automated underwriting systems, lending company executives and investors told Reuters. (more…)

Deals, Global trends, p2p-payments, p2p/online lending

June 10, 2016

1329

US peer-to-peer lending model has parallels with subprime crisis

By Patric Jenkins for Irish Times

It’s growing in popularity in Ireland but credit quality of some peer-to-peer loans is triggering concerns in the US (more…)

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

May 31, 2016

Short term lending – A pink Slip

By the Economist
“WHAT rate of interest…can naturally be more proper than another?” asked Jeremy Bentham in “Defence of Usury” in 1787. Anything less than 36%, answer American activists who want to curtail payday lending—pricey, short-term credit typically used as an advance on a pay cheque. (more…)

Fintech news, Global trends, Hotnews, InspirAsia, p2p-payments, p2p/online lending

May 30, 2016

1064

China online lending crackdown shutters Guangdong P2P site

By Reuters 

A large Chinese online lending platform accused of illegal operations has suspended operations, one of hundreds that have been shut this year by the government, as China cleans up a sector ridden with stories of Ponzi schemes. (more…)

China, InspirAsia, p2p-payments, p2p/online lending

May 27, 2016

China online lending crackdown shutters Guangdong P2P site

By Reuters

A large Chinese online lending platform accused of illegal operations has suspended operations, one of hundreds that have been shut this year by the government, as China cleans up a sector ridden with stories of Ponzi schemes. (more…)

China, Deals, Government activities, InspirAsia, p2p-payments, p2p/online lending

May 26, 2016

1472

The mercurial nature of P2P lending

By Mike Lobanov for Techcrunch

The meteoric rise of e-lending platforms attracted a lot of interest among investors and entrepreneurs. Lending Club and OnDeck have already become public companies, and their competitors, such as Funding Circle, SoFi, Prosper, RateSetterZopa, Avant, Kabbage and others continue to develop and increase their loan portfolios. (more…)

Analytics, Fintech news, Global trends, Hotnews, p2p-payments, p2p/online lending

May 23, 2016

Three FinTech Developments That Benefit Borrowers

By Rohit Arora for Forbes

FinTech firms disrupted the small business credit marketplace by developing technology that streamlined the lending process and sped up the loan-making process to 21st century standards. (more…)

Global trends, Mobile payments/banking, p2p-payments, p2p/online lending

May 23, 2016

1030

How will marketplace lending become a mainstream investment asset class?

By Min Zhang for Techcrunch.com

A friend who recently started his own business couldn’t obtain a mortgage from three banks. I suggested he try marketplace lending platforms like SoFi to take advantage of the ongoing innovation in fintech. However, SoFi turned him down, as well, because it abides by the same underwriting rules as traditional banks. Like the banks, SoFi sells their mortgage loans to Fannie Mae. (more…)

Cashless, Fintech news, InspirAsia, p2p/online lending

May 23, 2016

Financing your business – should you use P2P lending services or bank loans?

By Yong Heong Tung for e27.com

Advancements in the fintech space have opened up new avenues for businesses seeking to raise funding outside of traditional routes (more…)

InspirAsia, p2p-payments, p2p/online lending

May 23, 2016