All of us have seen the FinTech revolution that's taken place over the last few years. I never expected to see a FinTech acquire a bank.
In almost every FinTech's investor pitch, they include an exit strategy of being acquired by a bank. With the recent news of LendingClub acquiring Radius Bank, it completely flips the thesis on its head.
While LendingClub is mostly in consumer loans, I would expect to see a lot more M&A activity happening within both the FinTech and traditional banking world now.
And while I've said for a long time that it's only a matter of time before the FinTech revolution busts through the consumer and small business world into the commercial world, I think this acquisition proves a model to enable that to happen a lot faster than any of us ever expected.