Marketplace lending

Cross River poaches execs from student refinancing firm Laurel Road

06/17/19

The execs were hired for their focus on loan origination, portfolio management and securitization.

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Spring Labs raises $23M, plans to expand customer ID blockchain

06/12/19

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

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Will home equity lending ever recover?

06/07/19

It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game.

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What Biz2Credit plans to do with $52 million

06/04/19

The online lending marketplace will use the equity financing from WestBridge Capital to diversify the digital products its offers banks trying to compete for small-business borrowers, its CEO says.

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Once dismissive of fintechs, traditional lenders now feeling their bite

05/23/19

Online lenders now have close to 40% of the unsecured personal loan market, much of which is refinanced credit card debt. Banks' card portfolios are taking a hit.

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LendingClub turns to outsourcing in latest effort to cut costs

05/07/19

The San Francisco-based online lender, which has recorded nearly $450 million in losses since 2016, is taking aggressive steps to achieve adjusted profitability later this year.

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OnDeck lowers revenue target after charge-offs climb

05/02/19

The online small-business lender said it tightened its underwriting standards during the first quarter as credit quality worsened.

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LendingClub to close its small-business lending unit

04/23/19

Instead the online lender will refer commercial prospects to two partner companies as it seeks to focus on its core personal lending business.

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Banks turn to a former rival to jump-start digital platforms

04/16/19

TD and several other banks are licensing credit underwriting and fraud prevention technology from the fintech Avant to get their digital-lending products to market faster.

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Small businesses turning far more often to online lenders: Fed

04/16/19

The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.

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