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5 trends we’re watching this week

5 trends in finance this week

[alert type=yellow ]Every week at Tradestreaming, we’re tracking and analyzing the top trends impacting the finance industry. The following is a list of important things going on we think are worth paying attention to. For more in depth trendfollowing, subscribe to Tradestreaming’s newsletters .[/alert]

1. Is the marketplace lending industry in trouble? Here’s what we know. (Tradestreaming)

Trouble may be a bit strong but suffice it to saw, the business going forward looks a lot different than the fast-growth era we just emerged from. Here’s what’s going on.

See also:

  • Professional marketplace lending association aims for clarity, transparency (Tradestreaming)
  • Marketplace lender, Prosper ends Citi securitization pact (Nasdaq)
  • Online lenders dial back marketing in response to softer investor demand (WSJ)
  • Institutional investors taking leap into marketplace lending (BusinessWire)

2. Wall Street’s top bitcoin projects (Tradestreaming)
Less than 1% of internet users are currently using bitcoin, but incumbent financial institutions are busy testing blockchain technology.

3. Asset managers, prepare to have your business disrupted (Institutional Investor)
The combination of new tech, shifting demographics, and client needs is bringing a sea change to the asset management industry.

4. LendKey deploys $1 billion in capital to borrowers (Finextra)
LendKey, a tech company that helps incumbent FIs manage private label online lending offerings, announced it has powered more than $1 billion in lender capital to borrowers.

5. Selling Data: The emerging role of finance’s Chief Revenue Officer (Tradestreaming)
Selling financial data is sexy again and because of that, we’re seeing examples of a new role forming: the Chief Revenue Officer. As revenue production enters the C-suite, we take a closer look at 5 things that drive success.

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[podcast] LendKey’s Vince Passione: There’s no Uber-ization of finance because the banks will adopt technology. Eventually.

Lendkey podcast

As the interest in fintech and financial services in general continues to grow, there’s been chatter of an Uber-like disruption by the startups in the space.

Our next guest, Vince Passione would beg to differ. He’s the CEO of LendKey which provides the incumbent banking system the digital tools it needs to sufficiently compete in marketplace lending. The issue right now isn’t whether marketplace lending is going to grow, it’s more of who takes the lead in this space. It’s worth listening to Vince because he’s been a major part of the move to digitize financial services, leading Citi’s move online and Ameritrade’s Institutional Client group.

This move to online lending started with pure play disrupters like Lending Club and Prosper and is moving to a more collaborative environment with traditional institutions following quickly with their own offerings powered by companies like LendKey. The company has 320 clients and has helped originate over $1 billion in loans with its banking clients.

In Vince’s opinion, there will never be an Uberization of finance because banks and credit unions do eventually adopt technology. They survive. Same thing happened in Internet banking.

There is an entire system of trust and regulatory framework built around banks making them very hard to disintermediate. In this sense, LendKey is providing the shovels and pickaxes for the marketplace lending goldrush and it’s selling them to the big boys.

Listen to the FULL episode

In this podcast, you’ll hear about the following:

  • How and why lending-as-a-service is being adopted by traditional lenders
  • Why banks aren’t being Uber-ized
  • How this whole land grab for online lending will play out
  • New consumer demands for increased transparency, speed, and customization in payment terms
  • How future clients desire to engage with digital lending brands
  • How digital decision making is occurring at top performing banks

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