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Post by easteregg on Oct 21, 2015 7:52:00 GMT
Some interesting stats - in September 62% of loans originated on Funding Circle were funded by institutional lenders. On Zopa the number was 50%, and on RateSetter the number was 3%. Sorry I need to correct these figures from yesterday. On September 62% of loans originated on Zopa where funded by institutional lenders, and 50% on Funding Circle were funded by institutional lenders. Apologies for getting these figures the wrong way around.
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arbster
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Post by arbster on Oct 21, 2015 8:11:56 GMT
Some interesting stats - in September 62% of loans originated on Funding Circle were funded by institutional lenders. On Zopa the number was 50%, and on RateSetter the number was 3%. Sorry I need to correct these figures from yesterday. On September 62% of loans originated on Zopa where funded by institutional lenders, and 50% on Funding Circle were funded by institutional lenders. Apologies for getting these figures the wrong way around. Interestingly, it depends what stats you use. For FC, institutional loans were 53% by value, but 65% by absolute numbers of loans in September. Had they not rejected 54 loans offered to them those numbers would have been 60% and 72% respectively.
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james
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Post by james on Oct 21, 2015 14:11:54 GMT
Two slides from AltFi showing how RateSetter and Zopa are diversifying their business models: I had to laugh at the way they described Zopa as "Retail investor growth steady" when in fact it seems to be nil over the May 14 onward period covered, with all of their growth happening from institutional ending. Very different from RateSetter where there's been substantial ongoing consumer growth, something like 130% increase to 230% of the May 14 level now. Or put somewhat differently, Zopa seems to have been badly losing the lending to consumer competition with RateSetter in spite of them introducing a protection fund of their own.
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Post by easteregg on Oct 21, 2015 14:28:15 GMT
Two slides from AltFi showing how RateSetter and Zopa are diversifying their business models: I had to laugh at the way they described Zopa as "Retail investor growth steady" when in fact it seems to be nil over the May 14 onward period covered, with all of their growth happening from institutional ending. Very different from RateSetter where there's been substantial ongoing consumer growth, something like 130% increase to 230% of the May 14 level now. Or put somewhat differently, Zopa seems to have been badly losing the lending to consumer competition with RateSetter in spite of them introducing a protection fund of their own. Speaking to Zopa they admit that virtually all of their marketing is aimed at borrowers whereas RateSetter are marketing to lenders
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Post by easteregg on Oct 21, 2015 14:30:38 GMT
A good mention for the P2P Independent Forum from lender Pom at the lender discussion this afternoon. I agree with virtually everything mentioned by the lenders.
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Post by easteregg on Oct 21, 2015 14:50:35 GMT
ThinCats did mention that they were aware of the IT issues with their website, but that they were trying to address these issues.
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bigfoot12
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Post by bigfoot12 on Oct 21, 2015 15:11:48 GMT
ThinCats did mention that they were aware of the IT issues with their website, but that they were trying to address these issues. Next month will be the second anniversary of their 'issues'.
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pom
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Post by pom on Oct 21, 2015 15:33:25 GMT
A good mention for the P2P Independent Forum from lender Pom at the lender discussion this afternoon. I agree with virtually everything mentioned by the lenders. Had quite a few people asking me about it afterwards too, so we'll probably get more traffic even if they just lurk. Rather miffed about being told I should clear it all with my IFA tho.... Funny how no mention of that with the older/more male speakers...
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Post by easteregg on Oct 21, 2015 16:01:47 GMT
A good mention for the P2P Independent Forum from lender Pom at the lender discussion this afternoon. I agree with virtually everything mentioned by the lenders. Had quite a few people asking me about it afterwards too, so we'll probably get more traffic even if they just lurk. Rather miffed about being told I should clear it all with my IFA tho.... Funny how no mention of that with the older/more male speakers... I think that comment was perhaps that you should be giving advice to your IFA rather than the IFA giving advice to you!
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pom
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Post by pom on Oct 21, 2015 16:20:33 GMT
Had quite a few people asking me about it afterwards too, so we'll probably get more traffic even if they just lurk. Rather miffed about being told I should clear it all with my IFA tho.... Funny how no mention of that with the older/more male speakers... I think that comment was perhaps that you should be giving advice to your IFA rather than the IFA giving advice to you! I think it got turned round to that but not convinced that was the original intention. Kinda fair enough, would expect which to advise seeking advice...but odd how he didn't ask anyone else... A more general inquiry as to whether any of us used IFAs might have been more appropriate. Anyway was good fun, worth taking the day off
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Post by ablrateandy on Oct 21, 2015 17:07:02 GMT
You came across very well  . A good ambassador for the forum - you should get a free t shirt from them. |
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james
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Post by james on Oct 21, 2015 18:24:34 GMT
Rather miffed about being told I should clear it all with my IFA tho.... Funny how no mention of that with the older/more male speakers... Or maybe it was just someone who likes IFAs that you happened to bump into? Probably me being too idealistic, though, you've undoubtedly sem more of that sort of thing than me... VCTs and P2P can be tough for IFAs because they are classed as high risk products, on a level with a single-country tracker fund or share. So their compliance people are quite likely to tell them to be cautious about recommending either. P2P gets the tag in part because there's no FSCS protection, effectively an automatic short cut to high risk.
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Post by easteregg on Oct 22, 2015 12:11:24 GMT
This was the first LendIt conference I have attended and I have to say I was impressed. There was a 75 page document of press releases from companies attending, but the main ones that were actually news for lenders were Funding Circle expanding into Europe and Bondora opening up to US lenders.
Some of the leading P2P companies had stands and / or were speaking, but there were quite a few others that were not there. The ticket price may be outside of the budget for all but the "sophisticated" or "high net worth" lenders, but it was a very informative and well organised conference.
It is clear that some of the industry is targeting institutional capital, but the wave of ISA money may be smaller than expected as the recognition of P2P is still small within the general public.
There was an interesting discussion with a rep from Barclays (I believe) and after the banks were labelled as "the dinosaurs" he responded that if they are the dinosaurs then they have seen the comet and are planning what to do next!
I had several off the record discussions, but what I can say is that the pace of change in the industry appears to be quickening, and be prepared for the launch of Innovative Finance ISAs next year.
I finally got the chance to meet Giles Andrews at the end which was great!
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SteveT
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Post by SteveT on Oct 22, 2015 12:37:57 GMT
The ticket price may be outside of the budget for all but the "sophisticated" or "high net worth" lenders, but it was a very informative and well organised conference.
, I'm impressed !! 
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pom
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Post by pom on Oct 22, 2015 13:19:34 GMT
The ticket price may be outside of the budget for all but the "sophisticated" or "high net worth" lenders, but it was a very informative and well organised conference.
, I'm impressed !! Speakers got in for free - ticket prices were definitely rather rich for my tastes. But yeah a couple of the guys who were asking me questions afterwards were clearly significantly over the HNW threshold.....so maybe I shouldn't have been encouraging them to come here to help them find more platforms!! 
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. A good ambassador for the forum - you should get a free t shirt from them. 
