Category: FinTech

Stay up to date on the latest trends in FinTech – where technology meets finance to create new market opportunities.

How Millennials Are Helping Drive FinTech Adoption

Once upon a time, people actually needed to visit their local bank branches in order to take out money, make a deposit, or get a loan. As International Business Times notes, this meant that customers were often making their banking decisions based on how much they liked the people they interacted with and might even open a new account or take out a loan for that reason. While some may miss...

What Banks Think About FinTech (and Vice Versa)

You've probably heard it said that in the case of many large predators you might encounter in the wild, it's important to remember that they're more afraid of you than you are of them. When it comes to the traditional banks' perception of FinTech startups, that seems to be proving true. While few expect them to become entirely obsolete, a new study found that bankers are more bearish on the future...

Square Launches Successful IPO

On November 19, the FinTech payments company Square went public, hitting the New York Stock Exchange under the ticker symbol 'SQ.' Although the stock's opening price of $9 was below the company's initially announced target, it closed the day at $13.07 — up 45%. According to The New York Times' Dealbook that gives the company a valuation of $4.4 billion. In an interview with CNBC, Square's CEO and co-founder, Jack Dorsey...

Lending Club's Approval Process: A Peek Behind the Curtain

Perhaps the biggest question people have about online lenders is how they determine who will be a good borrower. Since FinTech companies like Lending Club never actually meet their borrowers face to face, they must rely on their application process, algorithms, and other factors to decide if a borrower should be approved and what their interest rate should be. While typical indicators such as credit score and history play a...

Lending Club Celebrates $13 Billion in Loans

There's no doubt that the growth Lending Club has seen since launching in 2007 has been impressive. Eight years after launch the FinTech leader has introduced new products, formed great partnerships, and now they celebrate facilitating over $13 billion (with a 'b') in loans. As they've come to do when hitting such milestones, the company recently took a look at what their loans have been used to achieve over the...

Square's IPO — What it Means for FinTech

Following IPOs from Lending Club and OnDeck last year, another FinTech company is set to go public in the coming weeks. Square, a payments company famous for their mobile card readers amongst other things, filed for their initial public offering earlier this month. While no date has been announced for their stock debut yet, the news has garnered a lot of attention. Part of the reason Square's IPO has been...

FinTech Insurgents? How Lending Club Is Working With Banks

On the heels of being named one of Bloomberg Markets' 50 Most Influential figures, Lending Club CEO Renaud Laplanche recently appeared at the Bloomberg Markets' Most Influential Summit in New York. There, he sat with Joe Weisenthal and Earthport CEO, Hank Uberoi, to talk about his company and the rising FinTech movement.Although the panel was titled "Banker Beware: Meet the FinTech Insurgents," Laplanche dispelled the notion that Lending Club is...

Lending Club CEO Named to Bloomberg Most Influential List

Bloomberg has just released their list of the 50 Most Influential figures for the fifth year in a row and Lending Club CEO Renaud Laplanche was named #28. Other big names on the list include Janet Yellen (#1), Elon Musk (#25), Jeff Bezos (#15), and even President Barack Obama (#6). The list itself is broken into six categories — Corporate Power Builders, Policy Shapers, Money Managers, Bankers, Tech Builders, and Thinkers...