Online lenders gain traction by partnering with incumbents
August 29, 2017
Online lenders have finally begun to make headway by cutting deals with major players in the incumbent financial ecosystem.
As the latest PitchBook fintech analyst note points out, some of the most notable companies are becoming more like banks, with SoFi the most prominent example, as it expands from student loan refinancing into unsecured consumer credit, wealth management and more. Yet as some online lenders establish a foothold, there are still significant hurdles to overcome.
Competition worsens as incumbents like Goldman Sachs roll out their own lending arms
Publicly traded firms make strides in improving financials