Lending Club banners hang on the facade of the New York Stock Exchange for it's IPO on December 11,2014 in New York. Lending Club started trading on the NYSE at a high $24.75 USD per share. AFP PHOTO/DON EMMERT Lending Club, one of the nation’s first peer-to-peer lenders , announced it plans to acquire Radius Bank, a relatively small Boston-based bank, unknown to most people outside of the industry .
With Radius Bank’s APIs—and fintech relationships—Lending Club takes a big step forward towards becoming a multi-line platform, and not just a multi-line bank. Even with regulatory approval, however, Lending Club isn’t looking at a “build it and they will come” environment.said Lending Club surveyed its members and found that 90% would consider switching to LendingClub as their primary bank.Lending Club’s number seems way out of the realm of reason. That said, it might not even matter. After all who switches banks any more? Consumers just add new accounts and transfer money back and forth.their checking accounts with value-added services.
Lending Club will also have to continue to attract a more affluent customer base. This is an issue that plagues a number of neo/challenger banks,
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Why Lending Club’s Acquisition Of Radius Bank Is A Smart DealRadius Bank gives Lending Club members the opportunity to open a savings account. Any bank could have done that for Lending Club. Radius, however, brings relationships and integration with its banking-as-a-service partners—and not any bank can provide that. MCCapitalV Do you want to make Passive income with your Bitcoin in 2020?🤓 Do you want to turn around your crypto portfolio in 2020?🚀 Our Mining⛏️cycle is ongoing to jumpstart your new decade and New Year! 🤑 Time is running out, Don’t Miss Out, CONTACT ME NOW 👉✉️ ✅✅✅
Source: Forbes - 🏆 394. / 53 Read more »
Why Lending Club’s Acquisition Of Radius Bank Is A Smart DealRadius Bank gives Lending Club members the opportunity to open a savings account. Any bank could have done that for Lending Club. Radius, however, brings relationships and integration with its banking-as-a-service partners—and not any bank can provide that. MCCapitalV Do you want to make Passive income with your Bitcoin in 2020?🤓 Do you want to turn around your crypto portfolio in 2020?🚀 Our Mining⛏️cycle is ongoing to jumpstart your new decade and New Year! 🤑 Time is running out, Don’t Miss Out, CONTACT ME NOW 👉✉️ ✅✅✅
Source: Forbes - 🏆 394. / 53 Read more »
LendingClub becomes first fintech to acquire US bank - Business InsiderLendingClub is poised to become the first fintech to buy a US bank in a $185 million deal one analyst called 'amazing news' — here's why it's so transformative
Source: BusinessInsider - 🏆 729. / 51 Read more »