We believe that the use of technology can power financial inclusion and that innovative businesses see opportunities in market gaps. For LendingClub, that means addressing gaps in accessing affordable loans. Through data and technology, we’re able to provide access to competitive rates for borrowers and reach people that traditional brick and mortar lenders aren’t serving well.
In July 2017, researchers from the Federal Reserve published a study called “Fintech Lending: Financial Inclusion, Risk Pricing, and Alternative Information.” The study uses data made available by LendingClub at the request of the researchers and finds that FinTech is filling the credit gap and broadening financial services to underserved borrowers.
Some of the study’s key findings include:
We’re proud to deliver access to affordable credit to more Americans, especially those in underserved communities. To view the entire study, click here. All loans made by WebBank, member FDIC.
*References to LendingClub in the report appear as “The Lending Club” which we have changed here to reflect our brand identity.
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