Lending Club launches API suite
12 August 2015 | 3586 views | 0
Source: lending Club
Lending Club (LC), the world's largest online marketplace connecting borrowers and investors, has launched Lending Club Open Integration (LCOI).
LCOI allows online advisors and broker-dealers to offer Lending Club investments quickly and easily to their client bases, using a suite of Application Programming Interface (API) services that integrate directly into their websites. It provides the same functionality that currently exists on Lendingclub.com, including money movement, investing, reinvesting, real-time reporting of cash and holdings, and tax reporting.
Renaud Laplanche, founder and CEO of Lending Club, said, "Retail investors have always been a key constituency for us. With LCOI, we are making it easy for advisors and broker-dealers to offer Lending Club Notes to their retail clients and deliver a blissful, seamless experience."
Lending Club brings together borrowers looking for lower rates, and investors looking for attractive returns. Through Lending Club, individual retail investors have access to consumer credit as an asset class that generally has not been available to them. Investors can invest in loans in increments as low as $25, diversifying across hundreds or thousands of borrowers, to quickly and easily build a portfolio that fits their investment objectives. Each fraction of a loan is invested in through a Note. Lending Club Notes have Historical Returns by Grade A-C of 5.19% to 8.88%.* Among investors who own 100 or more Notes of similar size representing loans to different borrowers, 99.9 percent have seen positive returns.