Post Tagged with: "LendingClub"

Marcus Will Succeed Despite — Or Because of — Goldman Sachs

Marcus Will Succeed Despite — Or Because of — Goldman Sachs

by August 24, 2016 at 2:35 pm 2 comments

As reported last week, Goldman Sachs just announced the creation of a new retail lending arm to launch in October, named Marcus after one of its founders. No one is really all that concerned about whether or not Marcus will be able to do its job— it’s Goldman Sachs after all, and has access to soRead More

Scandal Rocks Lending Club, Laplanche Ousted

Scandal Rocks Lending Club, Laplanche Ousted

by May 9, 2016 at 9:07 am 7 comments

Investors were looking to today’s Lending Club Corp. earnings as a sign of validation for the troubled marketplace lending sector. Instead, they got scandal. The company said Renaud Laplanche has resigned as chief executive and chairman after an internal review found sales of $22 million in near-prime loans to aRead More

Striking Fintech Gold

Striking Fintech Gold

by December 2, 2015 at 10:29 pm 1 comment

If you invested in the S&P 500 at the start of 2015, by the end of trading today, you would have enjoyed a return of … 1.04%. Yeah, not impressive. But had you invested in the portfolio of fintech stocks Bank Innovation tracks, you would have scored a return of 39%. Yeah,Read More

Amid Wild Wall Street, Fintech Outperforms Market

Amid Wild Wall Street, Fintech Outperforms Market

by August 27, 2015 at 11:08 am 0 comments

Wall Street has given investors a wild ride in recent days. That is, with the exception of fintech investors. The Bank Innovation portfolio of stocks, which includes 25 fintech companies, has dropped in value 2.24% since July 20. That compares to a loss of 9.83% for the Nasdaq since that date.Read More

Intuit in Marketing Deal with LendingClub for TurboTax

Intuit in Marketing Deal with LendingClub for TurboTax

by February 2, 2015 at 1:36 pm 1 comment

Intuit has creating a deal with LendingClub Corp. to market Intuit’s TurboTax seasonal service to LendingClub’s contacts. The deal resulted in an email marketing effort delivered on Jan. 30. It is not clear whether there will be additional marketing by LendingClub for TurboTax this tax season. The LendingClub solicitation offers consumersRead More

Parlez-vous LendingClub?

Parlez-vous LendingClub?

by December 11, 2014 at 11:51 am 0 comments

LendingClub’s IPO, which was trading 65% higher than its IPO price today, is big news here in the United States. But the peer-to-peer credit company might be more notable news in France. As has been well-documented, LendingClub’s founder, Renaud Laplanche, is French. He appears to have more notable status there, although he livesRead More

Earnest Aims to Overhaul Personal Loans by ‘Getting Back to Basics’

Earnest Aims to Overhaul Personal Loans by ‘Getting Back to Basics’

by June 18, 2014 at 4:22 pm 2 comments

It’s hard to borrow money when you have a limited credit history that inaccurately deems you as a risk. Earnest is a startup trying to change the conventional thinking about personal loans for whatever your needs may be — whether to move, buy a wedding ring, or pay off high-interest-rate studentRead More

LendingClub Makes Deal to Offload Loans to Auto Finance Company

LendingClub Makes Deal to Offload Loans to Auto Finance Company

by July 15, 2013 at 11:01 am 3 comments

LendingClub has quietly inked a deal to offload the risk in the personal loans originated on its platform. And, surprisingly, that deal is with an auto lender. Santander Consumer USA, it was disclosed last week, has made a deal to acquire unsecured consumer loans originated on the peer-to-peer lending platform. The dealRead More

The Core of the Machine – Banking as a Utility

The Core of the Machine – Banking as a Utility

by April 10, 2012 at 5:57 am 1 comment

I have been a strong partisan of Banking as a Service and posted several times on the topic on this blog. Recently I have posted more on the shiny outer layers that could be / are created in such a stack but not so much of the core services under it. So it was with interest […]