SoFi Technologies, Inc. (NASDAQ: SOFI), which claims to be a “member-centric, one-stop shop” for digital financial services that helps members borrow, save, spend, invest and protect their money, announced the issuance of $697.6 million in notes secured by a pool of personal loans originated by… Read More
Read more in: Fintech | Tagged digital financial services, personal loans, securitization, sofi
Zopa Bank has reportedly teamed up with John Lewis Money, the financial services arm of John Lewis Partnership, in order to provide personal loans to its 23 million customers. The partnership will see Zopa embed in the John Lewis Money website its personal loan product,… Read More
Read more in: Fintech, Global | Tagged personal loans, uk, united kingdom, zopa bank
LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, announced it crossed $1 billion of personal loans sold through its Structured Loan Certificates Program (SLCLC Program). The company anticipates approximately $2 billion dollars of loan volume “through the SLCLC Program… Read More
Read more in: Fintech, General News | Tagged atalaya capital management, banking, clarke roberts, justin burns, lending, lendingclub, lendingclub bank, personal loans
Nu Mexico announces the launch of its new product: personal loans. Like all Nu products, the launch will follow “a phased rollout process, starting in the coming days with a group of employees who will begin testing the product, to then expand the offering to… Read More
Read more in: Fintech, Global | Tagged financial services, fintech adoption, fintech trends, iván canales, latam, latin america, lending, loans, mexico, nu, nu mexico, nubank, personal loans, product update
At the mid-point of 2023, Gen Z consumers (born between 1995 and 2005) increasingly find themselves with new access to credit products. The newly released Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows “that relative to the consumer population as… Read More
Read more in: Fintech, General News, Global | Tagged consumer behavior, credit, financial services, gen z, insights, loans, michele raneri, paul siegfried, personal loans, research, Research Report, Research Study, transunion, unsecured personal loans, younger consumers
Digital bank Revolut recently revealed that it has expanded its financial services in Germany by offering personal loans. As noted in the update from Revolut, existing clients may now apply for loans, which can range anywhere between €1,000 and €50,000 via the platform’s Fintech app… Read More
Read more in: Global, Fintech | Tagged Business Expansion, digital bank, europe, financial services, fintech adoption, fintech trends, germany, personal loans, revolut, virtual banking
P.F.C. (Personal Finance Co.), a Stockholm-based fintech, announced that its customers can now take out personal loans directly in the app, extending the range of financial services it provides on Mambu’s cloud banking platform. Mambu’s rapid deployment capability enabled P.F.C. “to configure the personal loan… Read More
Read more in: Fintech | Tagged banking, cloud banking, europe, financial services, fintech adoption, fintech apps, fintech trends, loans, mambu, p.f.c., personal finance co., personal loans, stockholm, sweden
Commonwealth Bank is expanding its range of green financing to support home loan and personal loan customers “to enhance the energy efficiency of their homes, and purchase electric and hybrid vehicles.” The Green Loan is described as being “a low, 10-year secured fixed rate and… Read More
Read more in: Global, Fintech | Tagged angus sullivan, australia, banking, Business Expansion, CBA, commbank, commonwealth bank, energy efficiency, green financing, home loans, personal loans, sustainability
The team at Prosper notes that they’re sharing performance data from the Prosper Portfolio for October 2022. Highlights from the Prosper Performance Update – October 2022: Dollar % of AA-B rated loan originations in October comprised approximately 63% of total loan originations, representing a 102… Read More
Read more in: Investment Platforms and Marketplaces | Tagged consumer loans, lending, loans, marketplace lender, money management, monthly report, online lending, personal loans, progress report, prosper, san francisco, united states, us
Prosper Marketplace announced access to a new fixed-rate Home Equity Loan (HELoan) product for its customers in select US markets, “following the lending platform’s strong performance in personal loan origination last quarter.” This new product “complements Prosper’s suite of home equity products and resources and… Read More
Read more in: Investment Platforms and Marketplaces | Tagged david kimball, loans, personal loans, prosper, prosper marketplace, united states, us
Alliant Credit Union, a fully digital, top 10 credit union in the U.S. with more than 650,000 members and over $15 billion in assets, announced it has partnered with Upstart (NASDAQ: UPST), an artificial intelligence (AI) lending marketplace, “to offer AI-powered personal loans nationwide.” Charles… Read More
Read more in: Fintech, Artificial Intelligence | Tagged ai, alliant credit union, artificial intelligence, credit unions, lending, lending marketplace, loans, Michael Lock, personal loans, united states, upstart, us
The team at Prosper has shared their performance data from the Prosper Portfolio for July 2022. Highlights from the Prosper Performance Update – July 2022 are as follows: In July, approximately 59% of loan originations “were rated AA-B, increasing by approximately 1.6% month-over-month.” Average loan… Read More
Read more in: Investment Platforms and Marketplaces | Tagged consumer loans, lending, loans, marketplace lender, money management, monthly report, online lending, personal loans, progress report, prosper, san francisco, united states, us
Nuula, a Fintech focused on providing small businesses the tools and the capital they need to succeed, announced a new personal loan search feature that “allows small business owners and entrepreneurs that are smaller or earlier stage to search 30+ top lenders for personal loan… Read More
Read more in: Fintech | Tagged embedded finance, even, even financial, financial services, loans, mark ruddock, moneylion, Nuula, personal loans, small businesses, smbs, sme's
QuadFi, which claims to be a “mission driven” global fintech firm headquartered in Canada, has announced that it entered into an agreement for “a new financing facility of up to $100 million (CAD $127 million) with Crayhill Capital Management, a New York-based minority-owned private credit… Read More
Read more in: Fintech | Tagged canada, crayhill capital management, loans, new york, personal loans, toronto
BigPay, a Capital A venture firm and virtual banking platform, announced the introduction of its all-digital loans issued by “BigPay Later”, which is a wholly owned subsidiary operating within the group and a digital money lending license holder. The personal product provided by BigPay Later… Read More
Read more in: Asia, Fintech | Tagged bigpay, digital banking, ghl, loans, malaysia, personal loans, salim dhanani, southeast asia, tony fernandes, virtual bank
Ujjivan SFB has teamed up with NIRA in India to offer personal loans. As reported by the Economic Times, Ujjivan SFB noted that the partnership with NIRA is a key part of their business approach of using API Banking solutions as part of strategic Fintech… Read More
Read more in: Asia, Fintech | Tagged coronavirus, covid-19, credit access, fintech adoption, fintech trends, india, nira, personal loans, rohit sen
China’s regulatory authorities have reportedly been telling local banking institutions to “trim” their loan books during 2021 to guard against potential risks resulting from bubbles in domestic capital markets. This, according to an update from Reuters which cited sources familiar with the matter (on March… Read More
Read more in: Asia, Fintech, General News, Global, Politics, Legal & Regulation | Tagged cbirc, china, china banking and insurance regulatory commission, consumer protection, coronanvirus, covid-19, guo shuqing, hsbc, lending, mainland china, pboc, personal loans, shanghai, shenzhen, southeast asia, stock markets, stock trading
TransUnion (NYSE: TRU) confirmed that consumer credit activity keeps rising from the COVID-19 pandemic lows, but some areas like automobile loans (subprime) performance have lagged. As noted in an update published on February 18, 2021, by TransUnion, the company’s Q4 2020 Industry Insights report looks… Read More
Read more in: General News | Tagged auto loans, car loans, consumer credit, credit cards, lending, loans, mortgages, originations, personal loans, satyan merchant, unsecured personal loans
Michael Hoare, chief credit officer at UK-based RateSetter, a leading peer to peer (P2P) lender, recently explained what impact the Coronavirus (COVID-19) pandemic could have on the lending market and what it might mean for credit risk. Hoare is tasked with overseeing the management of… Read More
Read more in: Investment Platforms and Marketplaces, Global | Tagged coronavirus, covid-19, p2p lending, peer-to-peer lending, personal loans, ratesetter, uk, united kingdom
On Tuesday, loanDepot announced it is continuing the expansion of its mortgage and personal loan businesses by launching newly formed venture, mello Home, which connects pre-approved homebuyers with verified real estate agents in their local market and help consumers find and hire home improvement and other… Read More
Read more in: Investment Platforms and Marketplaces, Real Estate | Tagged anthony hsieh, homebuyers, loandepot, mello, personal loans, real estate
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