How One Man Is Helping Local Lenders Diversify Their Balance Sheet w/ Ian Lampl
Problem: Local financial institutions don’t have the access to resources or multiple branches that a larger bank like JPMorgan has. So, usually, local community lenders find a niche, and double down on 1 type of lending products. But, that creates at least 2 problems: An over concentration in geography An over concentration in 1 lending product So Ian Lampl stepped in, and by comparing lending to the bond market, LoanStreet was born. On this episode, Ian tells us all about his end-to-end lending platform that 600 local financial institutions are already falling in love with. What we talked about: Community lenders had 2 problems: geography & product Most people thought ‘matching’ would solve the issue The problem wasn’t ‘matching.’ The issue was infrastructure How LoanStreet modeled their loan platform after the bond market LoanStreet’s platform is actually better than the bond market’s standardization model Example LoanStreet in action To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here. Until next time!