Marketplace lending

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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Avant to pay $3.85M to settle allegations of deceiving borrowers

04/15/19

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to accept such payments.

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U.S. Bank hires its first chief digital officer

04/15/19

Derek White, an alumnus of BBVA and Barclays, will oversee digital innovation across all lines of business at the bank.

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ConnectOne makes bold digital play with deal for online loan exchange

04/12/19

The New Jersey company agreed to buy BoeFly, which connects franchisors, small businesses, lenders and loan brokers.

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Real-time data was Kabbage's secret sauce, its first investor says

04/10/19

The online lender's recent completion of a $700 million securitization provided Jonathan Ebinger at BlueRun Ventures an opportunity to reflect on what he has learned about the power of alternative data.

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