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Peer to Peer Lending

Equifax Appointed by P2P Lending Platform Flender to Support SME Loans

Equifax UK has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised.  The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan applicants, providing Flender with ... Read More »

BIIA in Action:  China Internet Finance Credit Reporting Forum 2016 (Dec 1-2)

Shine Consultants hosted the 2nd China Internet Finance Credit Reporting Forum 2016.  The event was attended by a wide range of industry players from the commercial banking industry, P2P lending, consumer finance, credit bureaus, risk prevention and big data companies.  The event was co-hosted by the Shanghai Credit Services Trade Association. For the second time BIIA was a supporting organization ... Read More »

China P2P Lender Lufax Announces Hong Kong & Singapore Expansion

Lufax, one of China’s largest peer to peer lending platforms, has announced plans to expand into both Hong Kong and Singapore. This news comes less than two months after the lender announced preparations for its Hong Kong Listing and IPO. Lufax Chairman and CEO, Gregory Gibb, reportedly stated the lender’s IPO could be next year’s largest. He shared:“We’ve been looking ... Read More »

China Intends to Regulate Internet Finance

China recently pledged to improve supervision over the online finance market, including peer-to-peer (P2P) platforms, to reduce risks and support healthy development of the sector.  A policy document released by the State Council, China’s cabinet, tasked various government agencies with working to contain internet finance risks, improve the competitive environment and boost investors’ risk awareness. Internet finance refers to deposits, ... Read More »

Yirendai Became an Inaugural Member of the Credit Information Sharing Platform of Internet Financial Industry

Yirendai Ltd. (NYSE: YRD), a leading online consumer finance marketplace in China and a subsidiary of CreditEase, has been elected as one of the inaugural member companies of the Internet Financial Industry Information Sharing Platform (IFIISP) on September 9 in Beijing. IFIISP was launched by China Internet Finance Association (CIFA) and aimed to track credit information in the industry, enabling ... Read More »

China Toughens Control of P2P Lending with new Regulations

China issued a regulation on this week to toughen its control of peer-to-peer lending companies, thus cracking down on illegal fundraising activities through such platforms and preventing financial risks. Jointly issued by the China Banking Regulatory Commission (CBRC) and three other ministries, the regulation emphasizes the role of P2P lending companies as financial information service intermediaries providing assessment and exchange ... Read More »

Will FinTech Risk Models Have “Unintended Consequences”?

In light of the LendingClub scandal we find FICO’s discussion about the ‘unintended consequences’ most appropriate.  Here is what FICO had to say about this subject: “Last month the President of the San Francisco Federal Reserve Bank addressed the LendIt USA conference here in San Francisco. He talked about “unintended consequences” and the role regulators play in protecting wider economic interests. “I ... Read More »

The LendingClub Scandal

Changes in loan application dates, ineffective internal control systems and conflict of interest got CEO Laplanche fired.  Business model now in peril. LendingClub, which was seen until last week as the gold standard in FinTech startups, had its shares plunging 51 percent last week after the surprise departure of Chairman and CEO Renaud Laplanche and the disclosure of faulty internal ... Read More »

China’s P2P Lending Lackluster after Tightened Supervision

China’s online peer-to peer (P2P) lending platforms are losing their shine as regulators have tightened supervision to prevent risks.  Only four P2P firms were established last month, down from 12 in February, and the number of platforms still in operation had dropped for four consecutive months to 2,572 as of March, according to a research note of Yinhang.com, a financial ... Read More »

MoneySQ and Bridgeway form Hong Kong’s First Crowdfunding Platform

MoneySQ and Bridgeway form Hong Kong’s first crowdfunding platform for professional investors.  Information power will be delivered by TransUnion. MoneySQ, a peer-to-peer lending company in Hong Kong has partnered with an asset management firm to create what they claim is the city’s first investment platform designed for professional investors. MoneySQ.com formed an allegiance with Bridgeway Prime Shop Fund Management Ltd ... Read More »

Chinese Regulators Said to Launch Campaign to Regulate Internet Finance as Ezubao Fraud Pegged at 40 Billion Yuan

Banking regulators are said to be establishing a “monitoring and warning system” against financial risk and fraud. This is a according to a report in China News that reported a statement that was released at a conference on political and legal work earlier this month. Authorities recognize that internet finance, including peer to peer lending, has helped provide access to capital to ... Read More »

Crowdfunding: Peer-to-Peer Lending Expect to Triple in 2015

Peer-to-peer lending – or in other words, the direct offer of credit, without intermediaries, online by potential investors to individuals and companies interested in receiving financing – is seeing a rapid expansion on a global scale. So much so that in 2014, the overall volume of resources exchanged was 11 billion dollars, representing over two-thirds of the total of so-called ... Read More »

P2P Lending Network i-Lend Partners with Singapore-based Lenddo for Credit Scores

Peer-to-peer lending marketplace i-Lend has partnered with credit risk assessment and verification company Lenddo which uses social and non-traditional data for credit scoring.  Singapore-based Lenddo is backed by AT Capital, Omidyar Network, Blumberg Capital and Golden Gate Ventures. Lenddo opened up its technology to third party companies including banks, NBFCs, telcos and others in January last year and has also forged a partnership with Ahmedabad-based digital lending platform ... Read More »

China’s US$7.6bn Peer to Peer Lending Ponzi Scheme

One of the most aggressive P2P lending company of China, Ezubao, has turned out to be a Ponzi Scheme.  Established in 2014, Ezubao was one of China’s highest-profile P2P lending sites, promising investors annual returns of up to 15 per cent. Ding Ning, its 34-year-old founder, allegedly ploughed new investors’ capital into its own real estate projects and also used ... Read More »