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LendingClub's Q3 metrics indicate quarterly recovery - Business Insider

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Despite its slight recovery, LendingClub is still prioritizing launching a challenger bank—and diversification is wise since it'll better serve existing customers and fuel acquisition efforts

to reduce operational expenses through layoffs and salary cuts, tighten underwriting, and increase interest rates on new loans—and it appears these efforts are now yielding results.; the P2P sector is forecast to continue to struggle as retail investors shy away from these platforms due to the risky nature of their largely small business borrowers. Protecting its existing loan portfolio may have restored investor confidence, which likely contributed to its rise in loan origination in Q3.

Despite this slight recovery, LendingClub is still prioritizing launching a challenger bank—and we think diversification is wise since it'll broaden its product suite to better serve its existing customers and fuel acquisition efforts.

 

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