In the past, banks offered lots of different services to their members because the convenience of doing multiple things at one physical branch made banks more valuable. For financial tech companies, that’s not the way to compete. On the latest episode of Re/code Decode, hosted by Kara Swisher, Lending Club CEO Renaud Laplanche said many of the old labels and traditions of the financial world are blurring or disappearing. Still, he cautioned that the baby shouldn’t go out with the bathwater — things like regulation are still important for Lending Club and its peers. “There’s a misconception that marketplace lending isn’t regulated, like it clearly wasn’t in China,” Laplanche said. “I wouldn’t mind having more oversight.”

http://recode.net/2016/03/28/should-investors-value-lending-club-as-a-tech-company-or-a-bank-ceo-renaud-laplanche-shrugs/