With a digital loan transaction platform, the friction in the settlement process has reduced along with the ease of meeting the demands of a diverse investor base.
FREMONT, CA: America's largest online marketplace connecting borrowers and investors, LendingClub Corporation, has launched LCX. It is an innovative electronic marketplace designed to connect a broader array of institutional investors to its new digital platform. LCX delivers effective pricing and same-day settlement of fully funded loans, continuing to open the power of the marketplace model by mitigating friction in the settlement process. It also allows for faster deployment of capital. LendingClub offers loans to institutional investors through four platforms, including Select Plus, Scale, Select, and LCX.
LCX provides additive real-time insights on-demand at the loan-level, providing the initial infrastructure needed for the development of a secondary market. This will improve liquidity and value for this mainstream asset class. The combination of speed, access, and transparency represents a substantial innovation in consumer loan transaction technology. The new platform has empowered customers with a secured loan, and other LendingClub innovations offer new industry-leading products that meet the needs of the growing and diverse investor base.
LendingClub is America's largest online marketplace that connects both borrowers and investors, facilitating business loans, personal loans, and financing for elective medical procedures. The company allows borrowers to access lower interest rate loans through a fast and easy online or mobile interface. LendingClub also enables investors to provide the capital to enable many of the loans in exchange for earning interest. LendingClub operates entirely online with no branch infrastructure and uses technology to lower cost and deliver an amazing experience. It transfers the cost savings to borrowers in the form of lower rates and investors in the way of attractive returns. LendingClub is modifying the banking system into a transparent, frictionless, and highly efficient online marketplace, helping people accomplish their financial goals every day.
See Also: Top FINTECH Companies