LENDINGCLUB
As customers look to make their money work better for them , LendingClub is disrupting traditional banking with a new approach
The financial health crisis is here . People are suffering amid a rising cost of living and debts are mounting as disposable incomes shrink to cover spiralling living costs . Saving money and lowering outgoings for millions of households , globally , is now a necessity . Innovation in finance is driven by disruption , and one contender leading the charge began life as a technology company specialising in data but has now transformed into one of America ’ s fastest growing digital banks .
Strictly speaking , LendingClub defines itself as a technology / financial services company . Founded in 2006 , innovation and marketplace disruption is embedded at its core , says Scott Sanborn , CEO , who joined the company in 2010 . A passionate advocate of the work LendingClub does , Sanborn says its services have never been needed more than they are now , as consumers find themselves pushed to – and , in some cases , beyond – their financial limits .
Lower-cost financial options for borrowers At its core , LendingClub offers lowercost lending services to borrowers than traditional banks . It ’ s able to do this because it acts as a broker pairing institutional investors with would-be borrowers .
28 October 2022