- Today’s main news: SoFi acquires mobile banking startup Zenbanx. LC class action suit to be arbitrated. Goldman CIO touts Marcus as FinTech startup. Prosper appoints Usama Ashraf as CFO.
- Today’s main analysis: P2P lending was a product of the financial crisis. Own SoFi through Renren.
- Today’s thought-provoking articles: Smaller P2P players likely to struggle. How to earn Bitcoin with P2P.
- SoFi acquires Zenbanx. GP: ” SoFi has been the leaders of the US P2P entity industry since the Lending Club crisis. They demonstrate once again innovation , courage and excitement. Lets see what they do next. ” AT: “Industry pundits have been talking about consolidation. Could this be the start? Regardless, this is a great acquisition for SoFi, and a smart direction to run.”
- Our acquisition of Zenbanx. GP:” SoFi explains in their own words what and how they did dit. A must read. ” AT: “What the SoFi team says about its plans for mobile banking.”
- Lending Club,WebBank class action suit to be arbitrated. GP:” This is not obvious and it’s good news: people were concerned the judge will not allow an automatic arbitration and this will affect the contracts of all other lenders. “AT: “Pretty straightforward. If the contract says disputes will be handled by arbitration, then that’s the way they should be handled. However, this decision can be appealed. It could be a long time before there is resolution.”
- Own SoFi, other FinTechs through Renren. AT: “Renren is a Chinese company investing in U.S. FinTechs. It’s interesting because I don’t see Yirendai on their list. We must ask, why is a Chinese investment firm ignoring homegrown FinTech leaders and opting instead for U.S. FinTechs?”
- Goldman CIO touts Marcus as FinTech startup. AT: “The reasoning makes sense to me. This is Goldman’s attempt to be more agile. Think of it as a motorboat alternative to the massive cruiser.”
- How to earn Bitcoin through P2P lending. GP:”
- Prosper appoints Usama Ashraf as CFO. GP:” Changing CFO for a financial company is a big change. Prosper changed CEO and CFO recently now. Winds of change in Prosper…”
- Battle to control $14 Trillion retirement investments. AT: “It may be a short while before a real competition takes place in retirement planning. Older people already have their retirement plans in place. If they don’t, it’s likely too late. Millennials are just getting to the age where they seriously need to consider retirement, but the focus is on student loans and real estate as these are their more immediate needs. I can see alternative retirement planning models heating up just around the corner.”
- What to expect from RECF in 2017. AT: “I’d expect further growth.”
- The colleges that offer the most bang for your student loan buck.
- The JOBS act continues to drive CRE growth.
- Video: Accessing P2P loans for alternative income.
- How to leverage a competition win. AT: “For the ladies, RE: OnDeck’s Seal of Approval Contest was won by a woman and judged by Barbara Corcoran of ‘Shark Tank’ fame.”
- Employing crowdfunding to start or expand your business.
- Smaller P2P players likely to struggle.GP:”This confirms the overall trend we see: it is hard for small lenders to convince investors to invest. Of the advantage of being cash flow positive.” AT: “Again, this is about consolidation. If small players struggle as predicted, then I can see the big guys gobbling them up.”
- P2P lending was a product of the financial crisis. GP:” Perhaps it benefitted from the overall attitude towards the banks and the willingness of the investors and the public to try something new in finance. I certainly think it played a role. The low interested rates on the savings accounts also played a role for sure.”
- Flender selects Equifax to support underwriting for UK SME loans. AT: “An excellent choice.”
- RateSetter’s former CRO joins The Money Platform.
- The Association of Alternative Business Finance launches.
- How the Funding Circle process works.
- United States
- SoFi moves beyond lending with acquisition of mobile banking startup Zenbanx (Finextra), Rated: AAA
- OUR ACQUISITION OF ZENBANX (SoFi), Rated: AAA
- Class Action Against Lending Club and WebBank Headed to Defeat (JDSupra), Rated: AAA
- Own SoFi, Other Fintechs Through Renren (Lend Academy), Rated: AAA
- Goldman CIO touts new consumer lending business as ‘fintech startup’ (SearchCIO), Rated: AAA
- How to earn Bitcoin through p2p lending (CryptoCompare), Rated: AAA
- Prosper Marketplace Appoints Usama Ashraf Chief Financial Officer (Yahoo! Finance), Rated: A
- What to Expect From Real Estate Crowdfunding in 2017 (Equities.com), Rated: A
- The Colleges That Offer The Most Bang For Your Student Loan Buck (Lifehacker), Rated: A
- The Battle to Control $14 Trillion in Investment Direction (Dara Albright Media), Rated: A
- 3 Years Later, the Jobs Act Continues to Drive Growth in CRE (Commercial Property Executive), Rated: A
- Video: Accessing Peer-To-Peer Loans For Alternative Income (RIA Channel), Rated: A
- How You Can Leverage A Business Competition Win (Forbes), Rated: A
- Employing crowdfunding to start or expand your business (SlideShare), Rated: A
- United Kingdom
- P2P Lending Platform Flender Selects Equifax to Support Underwriting for UK SME Loans (Crowdfund Insider), Rated: AAA
- Smaller P2P players likely to struggle, says alternative lender (Bridging&Commercial), Rated: AAA
- RateSetter’s former chief risk officer joins The Money Platform (P2P Finance News), Rated: AAA
- The Association of Alternative Business Finance Launched Today (Fintech Finance), Rated: A
- Behind the scenes: How the Funding Circle process works (Funding Circle), Rated: A
- ThinCats founder: Peer-to-peer lending was a product of the financial crisis (BusinessZone), Rated: B
- European Union
- French Finance Regulators Embrace Fintech (Crowdfund Insider), Rated: AAA
- Not Just Hi-Tech: Israel Competes in Global Asset Management (PR Newswire), Rated: AAA