Why Lendit is becoming one of the most important events for internet lenders around the world.
The LenditUSA 2016 event was bigger this year than ever before. In just three years, the LenditUSA gathering of 375 industry professionals has blossomed into a global event with well over 3,500 in attendance. Labeled as a “must-attend” industry event, it’s safe to say that Lendit has solid footing in the online lending market.
Lendit events are by no means a place where industry leaders play nice as the vibrant discussions often result in disagreement. However, these thoughtful and healthy debates look at the online lending industry from unique angles that inadvertently benefit all parties involved. By the end of the event, sector growth is sparked within the industry, and the participants come to the understanding that no plan is completely flawless.
At the recent San Francisco conference, many of the discussions expressed cautious optimism. This was a far cry from the previous year when exuberance filled the air, and economic opportunity seemed to pop up at almost every vendor booth. Since the economy took a few missteps in the first quarter of 2016, a few industry followers questioned how resilient the online lending industry could be. Although interest rates continued climbing and lenders remained confident in regard to the future of the business, the established platforms remained subdued.
Many of the panels touched upon or addressed issues as far as regulatory questions. Aside from polite discourse regarding the risks of online lending, regulators still envision the business as a harmless opportunity. The reason for concern regarding these risks is because of the cluttered landscape of agencies and United States federal/state rules. With finance one of the most regulated industries in existence, understanding regulations is what keeps businesses running without breaking the law.
Although all forms of finance are making the transition to the online market, Lendit is still the best venue to witness and meet the individuals who are leading the charge. Traditional finance might be slowly heading to the online market as it acquires or creates Fintech firms along the way, but the future of disruptive finance remains thriving and vibrant.*
The only complaint regarding the Lendit events thus far is the challenge that comes with watching every incredible panel to gain insight into the internet finance industry. Here’s a look at some of the memorable quotes taken from this year’s event:
“One of the most obvious and potentially most game-changing [aspects of Fintech] is [helping] the unbanked” — President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, John C. Williams
“Now everything matters. Two years ago, if you had a really great technology platform, you were able to raise capital. Today everything matters. You have to be really good at customer acquisition.” — CEO of Credibly, Glenn Goldman
“Internet finance is key to China’s economic transition. It is not possible to have grassroots entrepreneurs in China without it.” — CEO and founder of CreditEase, Ning Tang
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