Member Exclusive

A look through LendingClub’s Q4 2020 earnings

  • LendingClub’s latest earnings report revealed an originations increase of 56 percent which surpassed the high end of its guidance range.
  • Last month, Lending Club officially repositioned itself as a marketplace bank through its acquisition of Radius Bank.
Rimal Farrukh | March 29, 2021
close

Email a Friend

A look through LendingClub’s Q4 2020 earnings

LendingClub’s Q4 earnings showed a 56 percent increase in origination volumes to $912 million, exceeding the high end of the fintech’s previously provided guidance range. 

The release also depicted a 77 percent increase in related transaction fees and a reduction in expenses from the third quarter of 2020. Last month, LendingClub completed its acquisition of Radius Bank and officially launched itself as a marketplace bank. A marketplace bank uses APIs to offer customers homegrown and partner products through transaction integration and processing capabilities. 

The deal marks the first acquisition of a bank by an online lender. Increasingly more fintechs have started pursuing national bank charters. Earlier this month Square announced its industrial bank Square Financial Services. Personal finance platform SoFi also announced its upcoming acquisition of Golden Pacific Bancorp. 

This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “A look through LendingClub’s Q4 2020 earnings”

Finance Everywhere, Member Exclusive

Embedded Briefing: What’s driving the embedded finance boom?

  • Bain & Company estimates that the embedded finance industry will swell up to $7 trillion in transactions by 2026, up from $2.6 trillion in 2021.
  • Payments, lending, and banking were found to be the key drivers of the embedded finance boom. In the future, embedded insurance, tax, and accounting are poised for significant growth.
Subboh Jaffery | October 04, 2022
Green Finance, Member Exclusive

Green Finance Briefing: An intro to environmental sustainability in banking

  • For banks and financial institutions, sustainability initiatives present opportunities as well as risks, according to a new report on the current landscape of environmental sustainability in banking.
  • Sustainability is a business conversation - climate change is bound to create a shift in resources, bringing with it a reallocation of capital away from the status quo.
Iulia Ciutina | September 30, 2022
Blockchain and Crypto, Member Exclusive

Bankchain Briefing: How crypto firm Blockdaemon is bucking the “crypto bro” trend

  • This week, we explore the current state of gender equality in the crypto industry, and what firms in the space can do to counter the long-standing “crypto bro” trend and make way for a more egalitarian future.
  • We also discuss the current state of crypto regulation in the US, and look at how the lack of regulatory clarity is impacting the growth of the industry.
Ismail Umar | September 29, 2022
Member Exclusive, Online Lenders

Lending Briefing: Debit cards are taking over

  • This year, debit cards have emerged as the preferred payment method for the majority of US consumers, dethroning credit cards.
  • Younger generations are behind this switch – even though they're also getting credit cards, Millennials and Gen Zers prefer to pay with debit.
Iulia Ciutina | September 28, 2022
Member Exclusive

Why are regulators cracking down on bank-fintech partnerships?

  • A higher level of regulatory scrutiny is on the way for fintechs and the bank partners on which they rely.
  • Increased regulatory scrutiny could result in a safer and more resilient market to the benefit of consumers, says Brian Graham, partner at Klaros Group.
Lindi Miti | September 27, 2022
More Articles