LendIt 2016

MonJa Recap of LendIt 2016

In Industry News by Kitty LinLeave a Comment

Earlier this month, our team attended LendIt 2016, which is the biggest conference dedicated to peer-to-peer lending. The two day conference was packed with general sessions that analyzed important topics in the industry as well as deep dive workshops from industry experts. This year,  MonJa sponsored the conference and our CEO, James Wu, and Chief Analytics Officer, Jesse Velez, were featured on panels that focused on credit and underwriting. 

For those who are interested in a recap of the conference, here are brief summaries of the main sessions:

  1. Renaud’s Keynote Presentation: From Sapling to Ironwood, Marketplace Lending’s Next Phase of Growth addressed challenges and best practices for growth, operating efficiency, and business continuity for platforms. Some of the challenges the online industry face include sensitivity to rising interest rates, economic cycles, and regulatory issues. Although this year didn’t feature a drone dropping cash, Renaud did drop a hint at the upcoming consumer product launch, which is to be revealed on June 13.
  2. Ron’s Keynote Presentation: Evolution of an Asset Class examined the current state of the industry and where he thinks we’re at. The four takeaways of his speech are: 1) Open system thrive and closed systems become obsolete, which means that there is a need for transparency for the lending ecosystem to thrive. 2) FinTech means finance companies using technology to provide better products beyond loans. 3) There is a shift on how people interact with platforms that will go beyond just providing loans. Prosper aims to interact and engage with people to help with their financial health via Prosper daily. 4) The current position of the industry is still early (i.e.,in the “Great Idea” stage).

For investors who would like to learn more, visit the LendIt blog for recordings and videos. One track that you might find useful would be what other managers have to say about investing through a downturn. Check it out here

Cheers!

 

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