Lending Club Selects Oracle ERP Cloud Service to Help Increase Insight and Efficiencies
Oracle ERP Cloud Service Provides an Open Architecture, Best-of-Breed Decision-Making, and Scalability in the Cloud
ORACLE OPENWORLD 2012, SAN FRANCISCO – October 2, 2012
Lending Club, the leading platform for investing in and obtaining personal loans, has selected Oracle ERP Cloud Service to help improve decision-making and workflow, implement robust reporting, and take advantage of the inherent scalability and cost savings provided by the cloud.
With more than 76,000 borrowers and 90,000 investors Lending Club utilizes technology and innovation to reduce the cost of traditional banking and offer borrowers better rates and investors better returns.
After an extensive search, Lending Club selected Oracle ERP Cloud Service due to the breadth and depth of capabilities and ongoing innovation of Oracle ERP Cloud Service, as well as Oracle’s open architecture, industry leadership and commitment to partners.
A core goal of Lending Club is to create a more efficient model, and the automation, communication and collaboration features in Oracle ERP Cloud Service will help achieve better workflow, increase efficiency, and give greater control over financial data.
Since Lending Club’s online lending platform is internally developed, Lending Club chose Oracle ERP Cloud Service in the cloud to integrate with current systems easily, keep IT resources focused on the organization’s own platform, and reap the benefits of cloud scalability with lowered costs and the high data security and disaster recovery features.
With its rapid growth and as a data-intensive business, Lending Club is also implementing robust analytics and reporting to help improve decision-making through the embedded business intelligence within Oracle ERP Cloud Service.
“Lending Club is an innovative, data-intensive, high-growth company and we needed a solution and partner that could match us,” said Carrie Dolan, CFO, Lending Club. “We conducted a thorough review of our options, and Oracle ERP Cloud Service was the clear winner in terms of capabilities and business value as well as commitment to us as a customer.”
“Oracle ERP Cloud Service truly sets the new standard for finance,” said Terrance Wampler, Vice President Financial Product Strategy, Oracle. “We look forward to working with Lending Club, as they actualize the business value of reporting, decision-making and productivity from Oracle ERP Cloud Service.”
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About Lending Club
Lending Club utilizes technology and innovation to reduce the cost of traditional banking and offer borrowers better rates and investors better returns. Lending Club started operations in 2007 and has been recognized for its results and innovation by the Harvard Business Review and Dow Jones, was named one of Forbes' America's Most Promising Companies in 2011 and recognized as a 2012 World Economic Forum Technology Pioneer. Lending Club is based in San Francisco, California. More information is available at: http://www.lendingclub.com.
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