“The monoline marketplace lender model is a dead end for fintechs and they know it.”
Comprehensive analysis by Todd Baker on the LendingClub Radius Bank, hitting on all the issues that surfaced when we investigated making a push into personal loans a while back.
"It’s impossible to build a consistently profitable and resilient business without providing customers with a broader range of products and services--with their attendant revenue streams. There just aren't enough savings from automation to make up for lost revenues and financial intermediation costs."
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