Daily News Digest Featured News

Monday November 20 2017, Daily News Digest

weather unsecured consumer loans Orchard
Source: Crowdfund Insider

News Comments

United States

United Kingdom

China

European Union

International

Australia

India

Asia

News Summary

United States

PayPal to sell $ 6 billion in consumer loans to Synchrony Financial (TechCrunch), Rated: AAA

PayPal announced today it has agreed to sell $5.8 billion in consumer credit receivables to Synchrony Financial, in an expanded relationship between the companies. The deal also includes Synchrony’s acquisition of $1 billion in participation interests in PayPal receivables held by certain investors and a chartered financial institution, the company said.

As a result of today’s deal, the two companies will expand their partnership by making Synchrony Bank the exclusive issuer of the PayPal Credit online consumer financing program available to PayPal customers in the U.S. for the next 10 years, replacing Comenity.

Orchard Platform Initiates Analysis: Severe Weather’s Effect on U.S. Unsecured Consumer Lending Industry (Crowdfund Insider), Rated: AAA

In a recent blog, Orchard Platform posted initial research how much Hurricanes Harvey and Irma affected the U.S. unsecured consumer lending industry. According to Orchard Platform, approximately 91% outstanding loans in Florida were in designated FEMA disaster areas including metropolitan areas Tampa, Orlando, Miami and Jacksonville.

“The population of loans in the areas affected by Harvey experienced a 3x increase from July 2017 to September 2017,” according to Orchard Platform Credit Analytics Manager Nicholas Del Zingaro. “All consumer unsecured loans in Texas experienced a 170 bps increase in Current to 30 Roll Rate over the same period. Irma made landfall on September 10th, but the Florida and Irma designated areas within Florida and Southern Georgia already show signs of distress, with the Current to 30 Rate increasing from 1.5% to 2.5%. The total population had an uptick of 30 bps from August to September.”

weather unsecured consumer loans Orchard
Source: Crowdfund Insider

Why Cleveland Fed should retract its online lending study (American Banker), Rated: AAA

The Marketplace Lending Association is calling upon the Federal Reserve Bank of Cleveland to temporarily retract and revise its report on online lending due to what we see as serious flaws in the authors’ reliance on certain underlying data.

In our view, this paper — “The Taste of Peer-to-Peer Loans” — and its accompanying materials show that a lack of precision and understanding of subject matter can result in significant inaccuracies. The report’s authors presented findings that seemed to reflect issues with the P-to-P industry, but they actually relied on data from a much broader category of loans. The result was a misleading and brutally critical report about the P-to-P industry that was actually based in part on data from more traditional loans.

Cleveland Federal Reserve Pulls Document Critical of Peer to Peer Lending as Critics Question Research Methodology (Crowdfund Insider), Rated: AAA

Earlier this month Crowdfund Insider posted a research report published by the Cleveland Federal Reserve that was highly critical of the peer to peer lending industry (marketplace lending) in the US. The report, authored by Yuliya Demyanyk at the Cleveland Federal Reserve, Elena Loutskina at the University of Virginia, and Daniel Kolliner at the University of Maryland, has since disappeared from the Federal Reserve site.

GS Marcus Deep-Dive (PeerIQ), Rated: AAA

Marcus, was launched in October 2016 amidst mixed perceptions from market participants. One-year later, however, Marcus has achieved its $2 Bn origination objective – making it the fastest growing lending platform that PeerIQ tracks.

GS Marcus expects to originate $13 Bn over three years – the exact amount that Wells Fargo consumer balances have shrunk over the last twelve months as detailed in the PeerIQ Lending Earnings Insights reportGS expects to grow revenue from the Marcus platform to over $1Bn by capturing roughly 6% of the $250Bn unsecured consumer loan market:

Marcus
Source: PeerIQ

GS CFO Marty Chavez notes that Marcus has an aggressive ~3.5% ROA objective. By comparison, Discover’s ROA is currently ~2.4% and has only achieved a quarterly 3.5% ROA once in the last ten years.

Marcus performance
Source: PeerIQ

Although the statistics look similar, each lender is measuring loss-rates somewhat differently:

  • Lending Club and Prosper cumulative loss rates on 36-month prime term loans are ~12% – as estimated by ratings agencies during a base case (not thru cycle) scenario.
  • GS projects thru-the-cycle annual credit losses of 4.0%. Therefore, GS is betting that it will outperform on losses thru-the-cycle.
  • Discover’s 3.2% loss-rate is a realized statistic from the most recent 10-Q.
    • Discover management notes that loss rates are re-normalizing to higher levels. Indeed, Discover’s loss rate was 2.1% two year ago in 3Q 2015 and management expects losses will continue to re-normalizing going forward.
    • We believe a comparable thru the cycle loss-rate for Discover would meet or exceed 4%. By way of comparison, the Discover loan portfolio experienced a peak charge-off rate during the financial crisis of ~7%. (and continued to deliver a positive ROA).
Marcus credit loss
* GS estimate of 4%, Lending Club and Prosper based on 3-year ratings agencies cum. Loss estimate of 12%. Discover based on 3Q-10Q realized
Source: PeerIQ, GS Investor Presentation, Public Filings, Bloomberg.

Is LendingClub Making a Permanent Shift to Higher Quality Borrowers? (Lend Academy), Rated: AAA

recent post on the Lend Academy Forum spurred a discussion about the potential future of LendingClub, particularly as it relates to the types of borrowers they serve. While we don’t have insight into what LendingClub’s plans are, there are several things that have happened over the last two years that help us hypothesize that LendingClub’s strategy may be shifting.

LendingClub recently sent an email titled “How LendingClub Notes May Help You Generate Long-Term Wealth”. In it, they tout returns in the 4-6% range, a far cry from the returns some investors saw in LendingClub’s early days. The 4-6% range they present is footnoted, clarifying that this includes only grades A-C.

After I began writing this article LendingClub coincidentally announced in their recent earnings call that loan grades F and G would no longer be available to investors  These loans have an average interest rate of 24.16% on LendingClub’s platform. Moving forward, the loans will be brought in house as part of a test portfolio for LendingClub.

You can clearly see the expansion of C grade loans, which has increased to 36.09% of total originations in 2017, the most ever.

LendingClub
Source: Lend Academy

C grade loans currently make up just shy of 50% of 60 month loans.

LendingClub historical returns
Source: Lend Academy

Are Banks and Credit Unions Prepared for a New Mobile Era? (The Financial Brand), Rated: AAA

After years of strong mobile growth being driven by younger demographic segments, the majority of recent, more modest growth can be attributed to the 55 and older generation. In fact, consumers in the 55+age group have a three-year compound annual growth rate (CAGR) of nearly 8% compared to only 2% for the 18 to 34 segment, according to a study from Deloitte.

As in 2016, close to 90% of consumers viewed their phone within an hour of waking up, with roughly 80% doing the same within an hour of going to sleep.

Interestingly, the Deloitte research found that over 70% of younger demographic groups believe they are using their phones too much and are looking for ways to limit dependence. Alternatively, only 13% of consumers over 55 had the same concerns.

smartphone usage
Source: The Financial Brand

When consumers were asked about the way they communicated on mobile phones, all options increased in 2017, including text messaging (91%), voice calls (86%), email (81%), social messaging (72%) and video calls (30%). The increase in voice calls reversed a four-year decline.

The survey found a significant growth in use of mPayments in 2017, albeit against a rather low base number. According to Deloitte, consumers who said they made an in-store mobile payment with a smartphone or other device in 2017 reached 29%, which is a 50% increase over 2016. Those who used mPayments weekly also increased by 50% in 2017, (from 8% to 12%).

This $ 700 Billion Industry Has Been Untouched By Tech, Until PeerStreet Changed Everything (Forbes), Rated: A

The PeerStreet platform lets accredited private investors access the huge market of real estate loans, backed by big data and advanced underwriting to identify loans that can give consistent returns.

Brett Crosby, Co-Founder and COO of PeerStreet, has extensive experience in analytics from his time working at Googleas Director of Product Marketing.

What did you do before this?

I was the co-founder of a company called Urchin, which was early in the web analytics space. We were acquired by Google in 2005, and turned Urchin into Google Analytics. I stayed at Google for 10 years, building and launching Google Analytics, launching mobile ads, local ads, the go-to market on social initiatives at Google, and Google Drive. After that, I was running global growth on Chrome, Gmail Docs and Drive.

Mulvaney as CFPB head? Five things to know (American Banker), Rated: A

If President Trump taps Office of Management and Budget Director Mick Mulvaney as interim head of the Consumer Financial Protection Bureau, as is widely expected, he will be a sea change from outgoing head Richard Cordray.

Mulvaney, a former congressman from South Carolina, was a fierce critic of the bureau when in Congress and he sat on the Financial Services Committee.

Mulvaney payday lenders

Muvlany CFPB commission

Mulvaney Wells Fargo scandal

Mulvaney CFPB consumer complaint portal

Mulvanie Fannie Mae Freddie Mac

CFPB final payday/auto title/high-rate installment loan rule published in Federal Register (The National Law Review), Rated: A

The CFPB’s final payday loan rule was published in today’s Federal Register.  Lenders covered by the rule include nonbank entities as well as banks and credit unions.  In addition to payday loans, the rule covers auto title loans, deposit advance products, and certain high-rate installment and open-end loans.  For a summary of the rule, see our legal alert.

The controversy around Mark Warner’s payday lending bill, explained (The Week), Rated: A

At issue is the different ways that states try to handle payday lenders. Some states try to crack down on them with caps on interest rates. But other states are more lenient. And the situation is further complicated by big national banks, which operate under federal law and only have to comply with interest rate caps in the state they’re chartered in.

That loophole enables national banks to engage in “rent-a-charter” schemes. Since these banks aren’t subject to an interest rate cap (or are subject to a more lenient one), they can issue a predatory loan, then immediately sell that loan to a smaller payday lender barred by state law from issuing it on its own.

Pavaso Inc. has announced that it has selected eOriginal to support lenders in the digital mortgage process. Specifically, Pavaso will utilize eOriginal’s electronic promissory note (eNote) and electronic vaulting (eVault) services.

Elevate Credit (ELVT) and Its Peers Head to Head Comparison (Dispatch Tribunal), Rated: A

Net Margins Return on Equity Return on Assets
Elevate Credit 0.13% 1.40% 0.14%
Elevate Credit Competitors -27.28% -16.64% -8.05%

51.8% of Elevate Credit shares are held by institutional investors. Comparatively, 40.9% of shares of all “Professional Information Services – NEC” companies are held by institutional investors.

Gross Revenue NetIncome Price/Earnings Ratio
Elevate Credit $580.44 million -$22.37 million 357.00
Elevate Credit Competitors $242.33 million -$13.85 million 84.22

How Blockchain Technology Can Serve the Have-nots (Wharton), Rated: A

Some 2.7 billion people worldwide today have zero access to capital. Despite lacking any credit history or verifiable economic identity, these so-called unbanked or under-banked individuals can now access global capital markets with a $10 Android phone, thanks to blockchain-based economic identity platforms like BanQu or Humaniq that create a unique hash of verifiable authenticity — similar to a social security number — from a simple retina scan or selfie. The total market opportunity this group represents is a staggering $380 billion, according to a recent report.

Coinbase is going after big hedge fund money with its new cryptocurrency security platform (Business Insider), Rated: A

On Thursday, Coinbase, the San Francisco-based cryptocurrency exchange, announced a new platform that might quell the anxieties of big money investors looking to invest in crypto. The platform, called Coinbase Custody, was built specifically to meet the needs of such investors, including hedge funds and family offices, according to a Medium post by Coinbase CEO Brian Armstrong.

Just last week, an unidentified user accidentally deleted the code library required to use recently created digital wallets within Parity, a popular digital-wallet provider, and cryptocurrencies have long been associated with the chasms of the deep, dark web.

The service will charge users a $100,000 startup fee. Armstrong said there will also be a monthly fee based on assets.

Because index funds pose little competitive threat, expense ratios for the leading alternative funds are far higher than elsewhere in the industry. These days, the vast majority of conventional fund sales go into funds that have expense ratios of less than 0.60%–usually much less. With alternatives, on the other hand, a 1% expense ratio is considered low-cost. Most of the larger funds have expense ratios approaching 1.5%, which would doom them were they not alternatives.

Given all these differences, it’s not surprising that, for alternatives, industry leadership is upside down. The giants are absent. Among them, Vanguard, BlackRock, Fidelity, Capital Research, and T. Rowe Price run a grand total of $7 billion in alternative mutual funds. In contrast, the management firm AQR controls $29 billion.

AQR alternative investing
Source: Morningstar Direct

AQR performance chart

RealEstateInvestingProfits.com Explain Why Bitcoin and Real Estate Investing are Joining Forces (PRUnderground), Rated: A

RealEstateInvestingProfits.com, a strategic consulting and real estate investing educational platform that is responsible for a combined 1,000 closings and nearly a 100m in total sales volume focused on wholesale/flips with their partners and affiliates, are making a compelling argument, suggesting that real estate and Bitcoin should be natural partners and doing their best to open eyes to possibilities in this area.

With the Real Estate Market Size growing from $7.1 trillion in 2015 to $7.4 trillion in 2016, currency movements effectively reduced the size of the global real estate investing market by approximately 2.3% in the dollar (USD) terms according to MSCI Research, the question many are asking – Can Bitcoin be a positive disruptor to save on third-party fees and high transactions exchanges from lending?

How does Affirm make money? (Vator.tv), Rated: B

Affirm makes it easy to repay the loan, send out email and SMS text messages to remind the customer of upcoming payments. Users can pay theur Affirm bills online, by debit card or ACH transfer, and sign up for autopayment.

The company makes money the same way that a credit card does: by charging interest of between 10 percent and 30 percent.

United Kingdom

In lending its all about the recovery (AltFi), Rated: A

There’s a problem with shadow banking and alternative finance. It’s called what to do when bad stuff happens.

Whereas most consumer lenders will struggle to provide 5%, platforms such as Funding Circle, Assetz and ThinCats can easily provide a net yield in excess of 5%, even after allowing for losses.

This deeper understanding of the lending process and defaults is all for the good but I think it raises a much more critical issue, especially relevant for SME lending – how do lenders cope with problem borrowers?

But Funding Circle also has a sweet spot in lending tens and hundreds of thousands of pounds which means they tend to avoid lending large sums in the £500k to £50m bracket (in fact nothing towards to the top end).

Financial advisers found publishing false credentials online (Which?), Rated: A

Which? Money analysed 43 advice firms which are listed on on Unbiased.co.uk – a comparison service that allows you to find a financial adviser – which stated they employed certified financial planners. These are advisers who hold a specific certification from the Chartered Institute of Securities and Investment (CISI).

Some 63% of them (27 firms), however, did not actually employ any such advisers.

Seven out of 24 firms (29%) were also falsely claiming to be accredited by the Society of Later Life Advisers (SOLLA), and 14 out of 72 firms (19%) claimed to have advisers with chartered financial planner status, despite not employing anyone who was, in fact, chartered.

UK FinTech to Launch a Bitcoin Visa Debit Card with Support for Altcoins (Cryptocoins News), Rated: A

A London-based fintech startup is planning on launching a prepaid Visa debit card, giving users the option to spend a range of cryptocurrencies across the U.K.

On Tuesday, the London Block Exchange (LBX) launched, headed by an 18-year Credit Suisse veteran.

The cryptocurrencies include bitcoin, ethereum, ripple, litecoin and monero.

Fintech startup Glint de-cloaks to offer a multi-currency account and card that supports spending gold (TechCrunch), Rated: B

London-based Glint has been pretty stealthy about what it planned to offer, despite several funding rounds and a vague description that it wanted to a create new “global currency” based on gold. Well, today the fintech startup is finally de-cloaking with a staggered launch of its multi-currency account, app and card that does indeed let you store your money in gold and convert it back to fiat currency at the point of payment.

Komodo (KMD) bringing first dICO to Market with Monaize (Oracle Times), Rated: B

Komodo (KMD) has a much smaller market cap at $233 million. Komodo promises to be a block chain interoperable network to allow transactions across coins to help financial institutions bring banking to freelancers, small business owners, and other underserved customers accept and send payments.

Monaize is now teaming up with Komodo for the first dICO to facilitate financial transactions using cryptocurrency.

China

China Citic, Baidu launch direct bank in fintech push (Reuters), Rated: AAA

China Citic Bank Corp (601998.SS) and search engine giant Baidu Inc (BIDU.O) launched on Saturday a direct banking joint venture, dubbed AiBank, to capitalize on China’s rapidly growing fintech sector.

Young, Carefree and Unsecured (Bloomberg), Rated: AAA

Consumer lending is booming in China, thanks to a less thrifty younger generation who have cast off the save-at-all-costs mentality of their parents.

China’s unsecured consumer loans amounted to just 9 percent of gross domestic product in the first nine months of this year, compared with 15 percent in the U.S., according to consultants Oliver Wyman. The educated 18- to 36-year-old borrowers LexinFintech targets tend to be ignored by banks, even though their job prospects mean that they’re unlikely to default.

consumer loans China

Auto financing, meanwhile, has exploded to account for more than a third of car purchases last year from 8 percent in 2011, according to CLSA Ltd. data.

Peer-to-peer lender PPDAI Group Inc., which listed in New York last week, also said that its rates exceeded 36 percent once fees are included. The company’s shares are trading below their offer price.

WeiyangX Fintech Review (Crowdfund Insider), Rated: A

People’s Bank of China, China’s central bank, has made plans to launch a united platform by the end of 2017 for collecting personal credit information and assessing people’s credit ratings.

The new platform is expected to cover data from non-traditional market participants, especially Fintech industry (e.g. peer to peer lending), which will complement the existing credit data mechanism, increase supervision over non-traditional financial sectors and effectively reduce systematic risks.

Third-party credit service agencies may also become shareholders in the new platform with a ratio of 8% respectively.

On November 16th, Jianpu Technology Inc. announced it would be listed on the NYSE. Goldman Sachs, Morgan Stanley and JP Morgan are the bookrunners for the deal.

On November 16th, Xiamen Financial Affairs Office released the first P2P lending firms fillings in China. However, what drew the media’s attention more in the fillings is a firm called Jing Dong Xu Hang Online Lending Information & Intermediary Service Ltd. This company is a wholly owned secondary subsidiary of JD Finance. 

European Union

Flender looking at expansion into eastern Europe and Spain (The Business Post), Rated: AAA

Flender, a peer-to-peer lending start-up backed by Ding founder and Esat Digifone co-founder Mark Roden, is eyeing up an expansion to eastern Europe and Spain after it launches in Britain next year.

Charles Egly of Younited Credit (Lend Academy), Rated: A

Younited Credit is the largest online consumer lender in Continental Europe having crossed €500 million in total loans issued earlier this year.

In this podcast you will learn:

  • What the banking environment is like in France.
  • The long road they took to get a banking license.
  • The typical borrowers coming to Younited Credit today.
  • The terms of the loans they are offering today in France.
  • The kinds of investors on their platform today.
  • How they structure their investor offerings.
  • The three different ways they make money.
  • How their insurance product works.
  • The yield to investors of their different offerings.
  • Who Charles sees as their competitors.
  • How they are expanding their business to Italy and Spain.
  • Some of the large investors they are working with today.
  • Their approach to technology and underwriting.
  • Some of the alternative data they are using to feed into their algorithms.
  • How Brexit has impacted their business.
  • How they are using the €40 million they raised recently.
  • Where they are at with regards to profitability.

And more.

Allied Irish Banks invests €30m in payments fintech firm Transfermate (City A.M.), Rated: A

Allied Irish Banks (AIB) has invested €30m in (£27m) in business-to-business international payments start-up Transfermate, it will announce today.

The investment could value Transfermate at between €250m to €300m, sources said.

International

Fintech funding round-up (Banking Technology), Rated: A

As reported in May, peer-to-peer lending start-up Flender was seeking to get €1 million in funding and is targeting a UK launch after getting full authorisation from the Financial Conduct Authority.

Over in Israel, Tipigo Ventures, which offers an artificial intelligence (AI) powered wealth management platform, has raised $1 million in seed funding. The firm says this puts its valuation at $10 million.

Kuants, an algorithmic trading platform, will “co work” and “co live” at IA’s start-up academy during a three-month long acceleration programme.

Staying in India, Sumeru Enterprise Tiger Business Solutions, a Bengaluru-based banking software start-up, has raised $900,000 from unnamed investors in India and the US.

Australia

Fintech start-up Douugh scores partnership with US mutual bank Choice (Financial Review), Rated: AAA

Sydney-based fintech start-up Douugh has scored a partnership with US mutual bank Choice Financial, as it readies to launch its smart banking personal assistant, Sophie.

As part of the open banking partnership, Douugh will launch an integrated bank account and debit card with the bank, giving it the ability to accept deposits. Choice Financial has also invested in Douugh, as part of a $2.5 million seed round.

India

Fintech startups simplify digital money lending (Sunday Guardian Live), Rated: AAA

Amongst those startups who have been simplifying digital lending are Rubique, InCred, ZestMoney, Qbera, Loan Singh etc.

Working as a medium for a customer and financial institutions, data analytics performed on hundreds of data points on Rubique’s platform assess the creditworthiness of the customers (loan origination qualification), bringing predictability by giving them eligible offers to choose from.

Using real-time processing is also part and parcel for Zest Money, based in Bangalore since 2015, whose USP is its simple digital process, fast approval time and flexible products, with the benefit of multiple options to pay EMIs.

Using cutting-edge technology and proprietary credit underwriting algorithms, based on alternative data sources, Loan Singh enables frictionless lending to creditworthy and underserved borrower segments. It mainly provides personal loans (for salaried individuals), Professional Certification Loans (for students pursuing skill development and certification programmes), and Small Ticket Unsecured Personal and Consumer Loans (through third-party associations).

Others like InCred, founded in January 2017 and based out of Mumbai, focus on giving credit to those customers who have traditionally been underserved by large banks and NBFCs.

How fintech startups are assisting MSMEs, the biggest contributors to the Indian economy (YourStory), Rated: A

While contributing eight percent to the nation’s total GDP, micro, small and medium enterprises (MSMEs) also provide for 40 percent of the total export. Producing over 10,000 different types of products, these small-scale ventures are also responsible for 45 percent of the entire manufacturing output.

To begin with, last year’s demonetisation drive has propelled the digital onboarding of a number of MSMEs.

However, given a favourable environment and a slew of radical changes, there is still a huge credit deficit that is still unmet for the sector. This is exactly where the number of mushrooming fintech startups step in. To disrupt the status quo and level the playing field, a number of fintech lenders are supporting these small-scale ventures. The fact was made evident by McKinsey, claiming that nearly 75 percent of the emerging fintech lenders are helping MSMEs with lending, payment systems, retail banking, wealth management and more.

In digital drive, Aegon Life looking for fintech partnerships (Zeebiz), Rated: B

Aegon Life Insurance is exploring partnerships with fintech firms to expand customer base through a digital push of selling policies online, a top company official said.

Five fintech platforms which will make all your honeymoon dreams come true (Business-Standard), Rated: B

Here is a list of five fintech platforms, which will make all your honeymoon dreams come true:

  1. Loantap.in
  2. Faircent.com
  3. Rubique
  4. CreditMantri
  5. BankBazaar
Asia

P2P lender Crowd Genie targets raising up to $ 31.6m via ICO (Deal Street Asia), Rated: A

Singapore-based P2P lending solutions provider Crowd Genie plans to conduct an initial coin offering (ICO) of its CGCOIN currency, aiming to raise up to ETHB100,000 ($31.69 million).

Are crowdfunding and P2P lending good options for business financing? (e27), Rated: A

For the better part of a decade, banks have relaxed their lending conditions, too, so small businesses are finding more success with being approved for a loan.

But banks are not the only ones providing funding to small businesses, as they are actually reluctant to lend money to such enterprises in some jurisdictions. In China, for example, state-owned banks are not too fond of lending to individuals and small businesses. However, here P2P lending is a booming market, with around 2,200 p2p lenders and a market valued at US$100 billion.

Not all small businesses have the capability to launch their own ICOs, nor build their own blockchains over Ethereum, however. For this purpose, a startup called Starbase will empower any business or individual to crowdfund using cryptocurrencies and tokens without building their own network.

WeiyangX Fintech Review (Crowdfund Insider), Rated: A

It is based on this point of view that MAS and the Hong Kong Monetary Authority decided to collaborate on a Blockchain-based cross-border trade finance platform. The platform, which is called Global Trade Connectivity Network (GTCN), is an open-sourced Blockchain platform and will be launched at the start of 2019.

OJK Will Fix The Rules Regarding Fintech (Gatra News), Rated: B

The authority noted that as of September this year, 24 P2P lending companies consisting of 16 local companies and 8 foreign companies have been registered and licensed in OJK. Meanwhile 31 P2P lending companies are in the process of registration.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *

Testimonials

default image

"Your daily letter is great!" , Ram , Founder and CEO, PeerIQ

default image

"Hi George - just want to tell you that you are doing a great work with Lending Times;-) Brgds, Kasper" , Kasper, Partner and Co-founder at Dansk Faktura Børs A/S

default image

"I've been following your newsletter for some time now and have been very impressed with the content." Charlie,Co-Founder | Bolstr

default image

"Hey George, I must say I really enjoy your site. It has inspired me to do some changes at our platform and we are the biggest consumer lender in Sweden." , Ludwig, CEO @ Savelend Sweden AB

default image

"Your daily email is very useful. It gives quick update on what's going in the market. Thank you very much for all that info." Yann Murciano, Head of Base Metals Trading at Morgan Stanley

Our daily p2p news digest