LendingClub is to ____ as FinTech is to Bank ?
LendingClub's problems this week, musings of Matt Levine:
LendingClub got in trouble for being too much like a FintTech -- a "financial technology" company -- and too little like a bank, focusing on algorithms and speed and coolness rather than the plodding legalistic work that is the actual business of finance.
LendingClub got in trouble for being too much like a bank and too little like a FinTech, with mission creep, conflicts of interest and "a complicated network of middlemen" instead of a pure technology-driven neutral platform.