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.
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.
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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.
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