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LendingClub Boosts Digital Loan Transaction Platform's Scope
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LendingClub Corporation (LC - Free Report) recently announced the expansion of its LCX platform. The company is now offering its registered institutional investors on the platform to buy loans from the time of its origination or pre-issuance level to individual loan level.
Earlier, LendingClub, through LCX Platform, which was launched in October 2019, used to sell previously-originated loans at competitive prices. Now, with the expansion of this offering to the pre-issuance level, the company will be able to conserve liquidity and offer loans at competitive prices as these loans do not affect the balance sheet. This expansion will also allow investors to make informed decisions regarding their purchase strategies.
Patrick Coicou, LendingClub senior director electronic markets said "As a technology-driven marketplace, we want to remove friction and encourage investors to trade electronically and with precision whether its pre-issuance or post-issuance, with LendingClub or each other. We believe this will result in increased liquidity of this asset class and add marketplace functionality that previously did not exist."
LendingClub offers loans to institutional investors through four platforms, LCX, Scale, Select and Select Plus. The Scale and Select platforms were launched in 2017, while LCX and Select Plus were launched last year.
Shares of this Zacks Rank #4 (Sell) company have lost 70.4%, over the past year, compared with the 20.6% decline recorded by the industry.
Financial firms are keen on digitizing their operations with the aim to boost profitability and market share. The coronavirus pandemic has only sped up the process as more and more of these companies are enhancing their digital capabilities to offer a seamless experience to customers. Recently, Signature Bank (SBNY - Free Report) launched a blockchain-based digital payment platform, Signet, in integration with Fireblocks. Also, Nomura Holdings (NMR - Free Report) unveiled a digital assets custodian — Komainu — in partnership with the digital asset security company Ledger and digital asset investment house CoinShares.
A Key Pick
Alerus Financial Corporation (ALRS - Free Report) witnessed an upward earnings estimate revision of 3.8% to $1.38 per share for 2020 over the past 30 days. Its shares have lost 11.5% over the past year. At present, it sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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LendingClub Boosts Digital Loan Transaction Platform's Scope
LendingClub Corporation (LC - Free Report) recently announced the expansion of its LCX platform. The company is now offering its registered institutional investors on the platform to buy loans from the time of its origination or pre-issuance level to individual loan level.
Earlier, LendingClub, through LCX Platform, which was launched in October 2019, used to sell previously-originated loans at competitive prices. Now, with the expansion of this offering to the pre-issuance level, the company will be able to conserve liquidity and offer loans at competitive prices as these loans do not affect the balance sheet. This expansion will also allow investors to make informed decisions regarding their purchase strategies.
Patrick Coicou, LendingClub senior director electronic markets said "As a technology-driven marketplace, we want to remove friction and encourage investors to trade electronically and with precision whether its pre-issuance or post-issuance, with LendingClub or each other. We believe this will result in increased liquidity of this asset class and add marketplace functionality that previously did not exist."
LendingClub offers loans to institutional investors through four platforms, LCX, Scale, Select and Select Plus. The Scale and Select platforms were launched in 2017, while LCX and Select Plus were launched last year.
Shares of this Zacks Rank #4 (Sell) company have lost 70.4%, over the past year, compared with the 20.6% decline recorded by the industry.
Financial firms are keen on digitizing their operations with the aim to boost profitability and market share. The coronavirus pandemic has only sped up the process as more and more of these companies are enhancing their digital capabilities to offer a seamless experience to customers. Recently, Signature Bank (SBNY - Free Report) launched a blockchain-based digital payment platform, Signet, in integration with Fireblocks. Also, Nomura Holdings (NMR - Free Report) unveiled a digital assets custodian — Komainu — in partnership with the digital asset security company Ledger and digital asset investment house CoinShares.
A Key Pick
Alerus Financial Corporation (ALRS - Free Report) witnessed an upward earnings estimate revision of 3.8% to $1.38 per share for 2020 over the past 30 days. Its shares have lost 11.5% over the past year. At present, it sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>