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Beyond the Lending Club Scandal – Why Marketplace Lending is Still Needed in Emerging Markets
Renaud Laplanche, the CEO of industry pioneer Lending Club, resigned in May amidst rumours of fraud and malpractice. Since then, critics have been trying to write off marketplace lending as a flawed business model. But it's too early to discount the value of the entire industry – especially as it emerges in markets like India and China to address the critical needs of SMEs.
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