Online Lenders, Podcasts

TS Lending Podcast: The race to 1 day mortgage closings, crypto lending needs to grow up, SoFi adds investing

  • On this week's Lending Podcast, Zack and Dan explore crypto lending.
  • Also on the show, SoFi's foray into investing, digital mortgage speed, and Chinese P2P lending.
TS Lending Podcast: The race to 1 day mortgage closings, crypto lending needs to grow up, SoFi adds investing

Welcome to episode 2 of the Tearsheet Lending Podcast with your hosts Zack Miller and Dan Pelberg.

This week on the show, we talk about crypto lending and what the industry needs to do to grow up. Dan wrote a thoughtful article about the crypto lending space this week. As Dan spoke with a lot of the players, it became clear that they primarily target speculators now and that there are a few things that will need to happen for this to become a serious industry.

We talk about SoFi’s expansion into investing. As growth levels off, a lot of lenders that began as monoline are expanding into other products. SoFi plans to introduce stock and ETF investing on its platform. Will people come for loans and stay to invest? Not sure.

Dan and Zack turn to the race for speedy digital mortgage closings. LoanDepot introduced an eight day digital closing product this week. Chase publicly committed to a 21 day closing on its offline mortgage products with a “Closing Guarantee” that will pay customers $1000 if the bank misses the closing window. This guarantee is only available to customers that use other Chase products, so it’s less about tech and more about cross-selling and tiered service delivery.

Lastly, Dan and Zack discuss the Chinese P2P lending market which grew unfettered to over 6000 lending platforms. Fraud and mismanagement were rife and the government is now cracking down, closing down many of the platforms, seizing assets and prosecuting people. What does this say about the future of crowdlending in China and in general?

Artificial Intelligence, Podcasts

American Express’ Stephanie Schultz: We differentiate customer service by using a blend of automation and human assistance

  • American Express' Digital Labs wants to make the company a bigger part of its customers' lives.
  • VP Stephanie Schultz describes her team's work with new payments technology and messaging platforms.
Zack Miller | July 17, 2019
Modern Marketing, Podcasts

MBLM’s Rina Plapler on how top financial services brands create emotional bonds with their customers

  • MBLM recently published its 2019 Brand Intimacy Study.
  • Partner Rina Papler joins Tearsheet to talk about what makes a top ranking financial services brand.
Paige Stern | July 16, 2019
New banks, Podcasts

How CARD used affinity marketing to emerge as one the largest challenger banks

  • CARD offers branded cards with famous athletes, teams, and musicians.
  • This marketing and product strategy has helped propel the firm's account and asset numbers.
Paige Stern | July 15, 2019
Blockchain and Crypto, Podcasts

Grayscale’s Michael Sonnenshein on bringing Main Street investors into digital assets

  • Grayscale wants to help retail investors own Bitcoin through listed funds.
  • MD Michael Sonnenshein joins us on the show to talk about his firm's #DropGold campaign.
Michael Deleon | July 11, 2019
Podcasts

Payfone’s Rodger Desai: Digital transactions should be as easy as making a phone call

  • Payfone assigns a real-time personalized Trust Score to every customer.
  • Using telephone data, Payfone's system yields up to 73% higher verified rates.
Paige Stern | July 10, 2019
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