How Digital Loan Transaction Unlocks the Power of Effective Lending

Banking CIO Outlook | Friday, October 25, 2019

Progressive digital loan transaction platform is reducing the friction in the settlement process, along with meeting the demands of a varied investor base.

FREMONT, CA: America's biggest online marketplace connecting investors and borrowers, LendingClub Corporation, has launched LCX. It is a novel electronic marketplace designed to connect a more extensive array of institutional investors to its new digital platform. LCX delivers compelling pricing and same-day settlement of fully funded loans that continue to open the potential of the marketplace model by alleviating friction in the settlement process. It also enables 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, giving the initial infrastructure necessitated for the growth of a secondary market. This will enhance liquidity and value for this mainstream asset class. The combination of speed, access, and transparency signifies a substantial innovation in consumer loan transaction technology. The new platform has enabled customers with a secured loan, and other LendingClub innovations offer the latest industry-leading products that meet the requirements of the growing and diverse investor base.

LendingClub is America's pioneering online marketplace, connecting both borrowers and investors, expediting business loans, personal loans, and financing for elective medical procedures. Over a fast and easy online or mobile interface the company allows borrowers to obtain lower interest rate loans. LendingClub also empowers investors to provide the capital to facilitate many of the loans in exchange for making interest. LendingClub operates online with no branch infrastructure, using technology to lower cost and deliver a fantastic experience. It transfers the cost savings to borrowers in the form of more economical rates and investors in the way of handsome returns. LendingClub is modifying the banking system into a transparent, frictionless, and highly efficient online marketplace, helping people achieve their financial goals every day.

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