In an interview with Business Insider at LendIt Europe Zopa CEO Jaidev Janardana says even though new investors are on hold they are growing lending volumes by as much as 50 percent; the investor waiting list is over 15,000 and the current plan is to have them start investing by year end; the interview also touched on consumer credit and the overall economy in the UK. Source.
Zopa's Chief Product Office Andrew Lawson told investors last week they launched a new credit risk scorecard; the scorecard is meant to better help the platform assess borrowers and what is behind their approval/denial; Zopa has seen higher than expected losses and has also cut down on lending to higher risk customers; Lawson explained how the new model will use traditional credit methodology mixed with data science. Source.
The Reserve Bank of India will begin regulating p2p lending firms; the government of India released a notification on Wednesday; the platforms will be treated as non-banking financial companies (NBFCs); article shares the suggested regulatory framework from a paper released in 2016. Source
Last year we featured GROUNDFLOOR who was the first p2p lending firm to leverage Regulation A+ in Title IV in...
[Editor’s Note: This is a guest post from Rajat Gandhi. Rajat is the Founder and CEO of India’s largest P2P platform,...
AltFi takes an in-depth look at the oldest P2P lender Zopa and how they are positioning themselves for the future; recent partnerships with the Saffron Building Society and the coming PSD2 regulatory changes are key ingredients to the company’s future; Zopa also has plans to introduce a number of new products when it launches their bank in 2018. Source
Zopa plans to reopen to new investors by end of the year after stopping investor on boarding earlier this year; they stopped taking new money because they were finding it harder to get good quality borrowers; they also saw a big jump in demand for their Innovative Finance Isa; while the plan for opening to new investors is targeted at year end it could be delayed by existing investor's Isa demand. Source.
In a move viewed as a step towards becoming more central to their member’s financial lives, SoFi acquired Zenbanx for...
[Editor’s note: This is a guest post from Edoardo Matarrese and Roberto Condulmar of P2P Lending Italia an Italian language site focused on...
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[Editor’s note: This is a guest post from Prime Meridian Capital Management. Prime Meridian Capital Management is a Bronze Sponsor at LendIt USA...