Lending Club: Transforming the Banking System by Making Credit More Affordable and Investing More Rewarding
Lending Club is transforming the banking system to make credit more affordable and investing more rewarding. Lending Club is the world’s largest online credit marketplace and utilizes technology to match borrowers and investors. The service offers borrowers access to affordable credit with interest rates lower on average than the rates charged by traditional banks on credit cards or installment loans. The fast and easy-to-use online application process allows applicants to receive and evaluate loan options in just minutes without impacting their credit score. This has led to a superior customer experience culminating in an average net promoter score of above 70 percent for Lending Club. Investors can quickly and easily build a portfolio that fits their investment objectives. Lending Club has also developed strategic partnerships with banks to bring affordable loans to consumers by allowing banks to purchase high quality whole loans and offer new products to their customers.