Check Out Our January Meetup Wrap-up
Please find details of all upcoming Orchard Meetups here.
The first Meetup of 2017 kicked off in Orchard’s New York offices with a group of roughly 60 attendees who demonstrated an utter indifference to the Monday evening deluge. Proof that it’s absolutely true what they say; there’s no such thing as bad weather, just lousy gear.
Orchard and LendIt have partnered on Meetups for 2017 and Orchard’s CEO, Matt Burton and Peter Renton, the chairman and co-founder of the LendIt Conference, co-hosted the evening. While most of the night was dedicated to pizza, beer, wine, and networking, Matt and Peter spent a couple minutes giving the audience a brief wrap up of 2016 before introducing a few themes that will likely be central to the industry conversation this year.
Asian markets continue to be among the leaders in the technology sector and the emerging fintech space is no exception. The growing popularity of LendIt’s Lang Di Conference, in China, reflects this. Look out for announcements about upcoming Meetups in Singapore, Hong Kong, Shanghai, and Beijing to be hosted by Matt. He’s busy prepping for a trip to Asia for the month of February and would like to meet with as many people as possible while he’s there.
Last year was the first time the online lending industry truly experienced significant headwinds. But the general opinion is that we’re passed that and the sentiment feels largely positive in the new year.
Some of the lessons learned from 2016?
Data quality needs to be a priority for the industry. The kinds of issues that arise because of the quality and accuracy of data can be costly and are mostly avoidable.
Another? Liquidity. Having a mechanism in place to effectively exit a position when needed is critical for investors. It’s also important when managing risk for banks, originators, and other specialty lenders. Liquidity tends to be one of those things that isn’t important until it is. But by then, it can often be too late.
Thanks again to everyone who attended! If you have questions or would like to suggest a topic for future Meetups, please feel free to contact us.