Many major announcements this week leading up to LendIt USA, though we lead with the news that Lending Club, Prosper, and Funding Circle have launched the first major US industry tradegroup, the Marketplace Lenders Association, to advance efforts to create a more transparent and efficient financial system via operating standards, codes of conduct, and other tools to enhance transparency. It is a welcome development—and quite timely—in light of the recent OCC whitepaper regarding innovation and regulation for the FinTech sector, and SEC Chair Mary Jo White’s comments last month.

Amidst this conversation, we see continued deal activity between banks and platforms—this time between Avant and Regions Bank. Region’s will use Avant’s technology to offer unsecured personal loans to Regions Bank customers. Expect more deals to come.

LendIt USA:  We look forward to revisiting with many of you at the LendIt conference in San Francisco this week. Ram will kick-off the Structured Products track, provide an overview of the market, and offer best practices for platforms/issuers looking to fund via the ABS market. Please drop us a note if you’ll be attending, as well as look for us on the following panels:

  • Securitization – How do we make it better? (Mon, 4pm)
  • Valuation of Consumer Loans / Notes (Mon, 4:35pm)
  • Portfolio Analytics: Cross Platform Performance Comparison (Tue, 2:30pm)

Industry Update:

PeerIQ Mentions:

Lighter Fare: