New Lending Startups Use Instant Data Science To Judge Your Creditworthiness

From www.nytimes.com - When bankers of the future decide whether to make a loan, they may look to see if potential customers use only capital letters when filling out forms, or at the amount of time they spend online reading terms and conditions — and not so much at credit history. These signals about behavior […]

UK's Peer-to-Peer Finance Association To Block Banks From "Cherry Picking" Loans

Peer-to-peer retail investors in the UK will get a little bit of help against big banks "cherry picking" all of the best loans. The Peer-to-Peer Finance Association is the highly-respected trade body of p2p lenders in the UK and they plan to put rules in place for the various lending platforms to make sure that […]

AP Finance Writer Discovers Peer-to-Peer Lending & Avoids The Bank

From finance.yahoo.com - When I realized I was paying off six different credit cards and not getting anywhere, I decided to consolidate my debt, like millions of other Americans. I visited my local bank, asked for a $15,000 loan but was offered an interest rate higher than my cards were charging. So I looked into […]

Zopa & Metro Bank Deal Signals Longevity For P2P Lending

From www.bridgingandcommercial.co.uk - Peer-to-peer lender Zopa has announced a ‘first of its kind in the UK’ partnership with Metro Bank which indicates confidence in the market... Zopa says it’s a clear signal that some parts of the UK banking sector are embracing P2P lending as a new asset class. CEO and Zopa co-founder Giles Andrews […]

Derivatives Trading & Peer-to-Peer Lending Is Inevitable

From www.bloomberg.com on derivatives trading - It began with a seemingly wacky idea to reinvent banking as we know it. But no one is scoffing at peer-to-peer lending anymore -- least of all, Wall Street. Barely a decade old, “P2P” has gone mainstream and is now being co-opted by some of the big financial players it […]

Startups Embracing P2P Small Business Unsecured Loans

From www.fortune.com - Earlier this month, the momentum behind the online lending industry was in full view at LendIt—an industry gathering that didn’t exist four years ago, but grew from about 700 attendees last year to more than 2,500 this year. What was clear is that it’s no longer a question of whether these disruptors […]

Funding Circle Will Invest In Technology & Talent To Help Small Businesses Get Loans

From www.fundingcircle.com - Funding Circle, the world’s leading online marketplace for business lending, today announces it has raised $150 million (~£100 million) in equity capital, in a round led by DST Global, with participation from Baillie Gifford, a fund managed by BlackRock, Sands Capital Ventures and Temasek. Goldman Sachs acted as exclusive placement agent for […]

Predatory Student Loans: Victims Fight Back & Walk Out On Their Debt [Video]

Student loan debt is crippling the future of countless young people in America, there is more than 12 trillion dollars owed in student debt at this time. Many students never even finish their schooling, only to head off into their disappointing career life saddled with crushing debt. Well, some have refused to accept this fate. […]

P2P Lending Will Become "Traditional" For High-Tech Millennials

From www.blog.lendit.co - Recently I heard a “soft rock” version of Nirvana’s Smells Like Teen Spirit. As shocking as that was, it got me thinking a bit about how over time “alternative” things go mainstream. In the banking context, peer-to-peer or non-bank lenders are still “alternative” and they still represent a very small part of […]

How One Man Upped His Net Worth By Over 400K in 4 Years

From www.sooverthis.com -  Just over 4 years ago, long before I even knew the definition of “net worth”, I was in the negative. I owed about $35,000 in student loans, $15,000 in credit card debt, $226,000 mortgage ($235k home value), and I was leasing a $600 a month Audi A4. My assets consisted of $30,000 […]

How P2P Lending Could Shake Traditional Consumer Lending To Its Core

From www.badcredit.org - What’s attributing to this business model’s success and popularity? Investors have been able to turn a profit from debt-related investments like asset-backed securities and bonds for decades and borrowers have had access to personal loans and credit for even longer. So why P2P? The answer may lie in disintermediation, or the removal […]

Lending Club Continues To Make Power Moves, Partners With BancAlliance

From www.investorschronicle.co.uk -  BancAlliance was founded in 2011 as a collaborative solution for community banks to enable them to access attractive lending markets that are typically dominated by larger banks. It comprises community banks in 39 states, ranging from $200 million to $10 billion in assets. In aggregate, BancAlliance would rank fourth in branch count […]

Are The Banks Snatching Up All Of The Best "P2P" Loans?

From www.economywatch.com - Banks are themselves becoming major lenders on some P2P platforms. For example, Forbes estimates that in the US, 80-90% of the capital lent through the two largest P2P lenders, Prosper and LendingClub, is now institutional money. This means that when you take out a P2P loan, you are now less likely to […]

Bankers Create MyBestEgg.com To Compete In Booming Alternate Lending Market

From www.bloomberg.com - (Bloomberg) -- It took LendingClub Corp. five years to arrange $200 million of consumer loans in a quarter. A group of former Barclays Plc bankers just reached the milestone in 10 months. Marlette Funding LLC, started by ex-employees from a Barclays credit-card unit, said in a statement that it arranged more than […]

Major Banks Remain Standoffish Towards Involvement With P2P Lending

From www.americanbanker.com - Banks remain noticeably few and far between in the booming field of online marketplace lending. The two largest U.S. platforms in this budding industry, Lending Club and Prosper, facilitated a combined $2.4 billion in loans in 2013, nearly triple the 2012 figure. Some investors are expecting explosive growth in the sector to […]

Banks Getting Knocked Off Balance By Surge Of P2P Lending's Popularity

From www.smh.com.au - If you think it sounds like a pretty good deal, you are not alone. Borrowers and savers in the United States and Britain have been flocking to P2P platforms, which are able to offer more competitive rates by cutting out the costs banks create as middlemen. Equity investors are getting pretty excited, […]

The Average Joe Will Know About P2P Lending In 2015

From www.moneysavingexpert.com - I suspect about a year ago most people hadn't heard of Peer-to-Peer (P2P) lending; come 2015 they will definitely be hearing about it a lot more. The year 2014 has been a significant year for our sector. In April, we became fully regulated by the Financial Conduct Authority and in his spring […]

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