How new tech can improve the loan process

Anyone who keeps up with the stock market is likely aware that Lending Club is in hot water. Anyone with professional lending experience is likely unphased by this. Peer-to-peer lending bypasses the regulations to which traditional lenders must adhere, which is why the concept took off during the 2008 recession, when lots of Americans were looking for loans that traditional lenders could no longer approve. So for Lending Club to oust its founder and chief executive Renaud Laplanche because of loan irregularities and lack of disclosure on a personal investment isn’t terribly surprising.