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Online Lending

·Aug. 23, 2017

RiverNorth’s Recent Note to Investors

RiverNorth's total portfolio consisted of 10,173 loans with an average loan size of $10,176 at the end of July; in the note to investors RiverNorth shared that investors are becoming more comfortable with online lending assets with more awareness likely to drive further growth; highlights two recent positive events in the industry including Prosper's recent securitization and Lending Club's Q2 2017 results. Source

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News Roundup Online Lending USA

·Aug. 23, 2017

SuperMoney Introduces Auto Loan Offer Engine

SuperMoney has developed new auto loan technology to provide consumers with auto lending offers; it signed on 20 auto lenders for the product's launch and is able to provide interested borrowers with options for secured and unsecured loans, refinancings, and private-party auto loans; the firm is seeking to simplify the search process for finding an auto loan and compares its technology to current services for buying an airline ticket. Source

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Europe News Roundup Online Lending

·Aug. 23, 2017

Zopa Reports a 60% Increase in Revenue

The company's revenue increased from GBP20.6 million ($26.38 million) in 2015 to GBP33.2 million ($42.52 million) in 2016; its earnings also improved with a GBP -5.8 million (-$7.43 million) loss versus GBP -8.8 million (-$11.27 million) in 2015 and the company reported a fourth quarter operating profit; the 2016 results also showed loan originations increasing by 30% to GBP689 million ($882.4 million) in 2016. Source

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Europe News Roundup Online Lending

·Aug. 23, 2017

P2P Lenders Reporting Decreased Borrowing

While P2P lending platforms have taken a significant amount of lending from banks since the financial crisis, data from the Financial Times suggests that growth could be slowing; an Ernst & Young survey shows only 7% of 1,100 people using P2P lending platforms for borrowing and a separate survey from Blumberg Capital says only 4% of 1,050 British adults have used the platforms in the past 12 months, signaling less awareness and demand; banks have also increased investment in fintech regaining some market share; overall, the Financial Times reports that the market in the UK is changing with regulations supporting P2P lenders but less demand and market risks slowing growth. Source

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Europe News Roundup Online Lending

·Aug. 23, 2017

Investor Security Considerations in P2P Lending

Stuart Law from Assetz Capital discusses different platform approaches to security, risk assessment and lending in an article for FT Adviser; provides details on the pre-approval and post-approval process for loans, noting the importance of these processes for investors given that P2P platforms provide alternative investments with potentially higher risks; also discusses the advantages that a provision fund can offer for investor security. Source

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Europe News Roundup Online Lending

·Aug. 23, 2017

Landbay Raises GBP2.4mn from Seedrs Campaign

Landbay's most recent fundraising brings total funding to GBP7 million ($8.98 million) which the company has obtained from crowdfunding; the company's business is focused on funding buy to let mortgages and it has received authorization from the FCA; it plans to use the new funds to expand its operations and launch new products. Source

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News Roundup Online Lending USA

·Aug. 22, 2017

Unstoppable Trends in Online Lending

2016 was a year filled with shaky investor confidence, compliance issues and bad credit performance in online lending; OnDeck CEO Noah Breslow's 2017 LendIt USA keynote focused on the challenges posed by 2016 and the trends for 2017 and beyond; after seeing how the industry reacted to these challenges he stated that he is now more optimistic than ever before; the industry is maturing and measures of success have shifted; the unstoppable trends include: customer awareness, trust and adoption of online lending, bank partnerships, constructive engagement between the public and private sector, and the global growth of online lending; he also predicts that by the mid 2020's nearly all small business loans will be made online. Source

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Europe News Roundup Online Lending

·Aug. 22, 2017

AltFi Data Prepares for New Business Development

AltFi Data has raised new capital and formed an advisory board; the new initiatives will help AltFi Data launch new products, increasing analytical tools and market transparency; the board’s advisors bring experience in market data and investing. Source

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Europe News Roundup Online Lending

·Aug. 22, 2017

P2P-Banking Talks with Terry Fisher of Huddle Capital

Huddle Capital provides P2P loans for businesses; Terry Fisher talks about the platform's differentiators and advantages; also discusses its ownership by Access Commercial Finance, its relationship with Rebuildingsociety, its technology and what investors can expect. Source

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Asia/Pac News Roundup Online Lending

·Aug. 22, 2017

SocietyOne Celebrates Five Years in Business

Australian online lender SocietyOne is celebrating its fifth year in business with its first loan issued in August 2012; in June 2017 the platform reported cumulative originations of $300 million and since inception has helped over 13,000 customers; the firm says it has plans for expanding to new areas of lending over the long-term and will seek to obtain a 2% to 3% share of the $100 billion consumer finance market. Source

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