Oracle Press Release

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


News Facts

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.

Supporting Quotes

“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.”

Supporting Resources

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About Oracle OpenWorld

Oracle OpenWorld San Francisco is the most important educational and networking event of the year for Oracle technologists, customers, and partners. This information technology event is dedicated to helping businesses optimize existing systems and understand upcoming technology breakthroughs. The conference, which draws more than 50,000 attendees from over 140 countries, offers more than 2,100 educational sessions, 400 product demos, exhibitions from 450 partners and customers showcasing applications, middleware, database, server and storage systems, industries, management and infrastructure – all engineered for innovation. Oracle OpenWorld 2012 is being held September 30-October 4 at The Moscone Center in San Francisco. For more information, please visit www.oracle.com/openworld. Watch Oracle OpenWorld keynotes, sessions and more live on YouTube. Join the Oracle OpenWorld discussion on Twitter, Facebook and the Oracle OpenWorld Blog.

About Oracle

Oracle engineers hardware and software to work together in the cloud and in your data center.  For more information about Oracle (NASDAQ:ORCL), visit www.oracle.com.

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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Contact Info

Danielle Cormier-Smith
Oracle
+1.610.766.3463
danielle.cormier@oracle.com

Simon Jones
Blanc & Otus
+1.415.856.5155
sjones@blancandotus.com