There's been a ton of news and activity in our industry recently. We have a lot going on. A new administration starting at the end of the week, a new bank charter (potentially) for fintech companies from the Office of the Comptroller of the Currency (OCC) and other stuff too. Let's see what is going on in the industry.
Before we dig into the news, did you know that you can stay in touch with all the news in our industry with the Lendit Conference in NYC? It's on March 6-7. Since you read this blog you can get a VIP discount through me at P2PLE17USA. Let me know if you are going and I hope to see you there.
In the US
A common topic, the blurring of the lines between banks and marketplace lending platforms, is looking a little more blurry as fintech company Misys launches a new service selling its p2p lending software directly to banks. Will banks enter the market themselves like Goldman Sachs did with Marcus? This will make it easier for them if they want to do so.
Forbes covers p2p lending and some of the tools we use like NSRInvest.com, Monja and Lending Robot to invest on Lending Club, Prosper, and Funding Circle. This kind of mainstream press is always a good thing, especially after a good but bumpy year in 2016.
Lending Club has filed its 8-K with the SEC with updates on credit policies, delinquency rates and comments on economic conditions. It's not long at 8 pages and worth a read if you lend there. The filing is embedded in this article linked above so you can read it.
Around the World
Indonesia's government issues rules for p2p lenders in the country that include capital requirements, foreign ownership and use of escrow accounts. This is a positive step in a huge country with enormous potential. Regulatory clarity is a good thing.
Funding Circle UK gets a 40 million GBP investment from the state-owned British Business Bank (BBB) for the issuance of small business loans. This is a sign that the UK believes that qualified experienced peer lenders can do a better job of underwriting small business credits than the BBB can.
Old reliable source Crowdfund Insider reports that Tima, the first p2p lender in Vietnam, has successfully raised a Series A round of funding so they can look to grow in that emerging market.
Lastly, one of Continental Europe's hotbeds for fintech firms, the Baltic states has a new platform. Brick and mortar finance company Via SMS Group launches VIAINVEST for short-term consumer loans with a buyback guarantee. Anyone with an EU bank account can invest there.