https://www.wsj.com/articles/banks-strike-back-but-returns-r…
“Goldman Sachs’s deal to acquire GreenSky is the latest example of a nonbank lender moving into banking.” Not only GreenSky but Lending Club and SOFI
Banks regularly group think themselves into trouble. Would any sensible entity lend money to Russia Mexico and NINJA borrowers? But most of them did. Just like lemmings. While banking may be a great business for the executives, bonuses in good times and taxpayer bailouts in bad times, it is not so good for investors. When banks get in trouble ordinary shareholders are usually screwed.
Are these moves by these companies done because they want to be a bank., joining thousands of other banks, none with a competitive advantage, or because they know they can not compete with UPST?
As an UPST shareholder I like the latter view 
In any case I like the no interest rate risk approach of UPST
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https://finance.yahoo.com/news/focus-banks-beware-outsiders-…
While some possible Upstart competitors are rushing into banking, bankers are themselves having challenges
" Global brands from Mercedes and Amazon to IKEA and Walmart are cutting out the traditional financial middleman and plugging in software from tech startups to offer customers everything from banking and credit to insurance."
one that seems apply to Upstart
"the risk for traditional lenders is that they will get pushed further away from the front end of the finance chain. And that means they’ll be further away from the mountains of data others are hoovering up about the preferences and behaviours of their customers - data that could be crucial in giving them an edge over banks in financial services. "
The financial, banking, fin-tech sector seems to be caught up on a swirl of change and we need to be on the right side of it. So the motivation of companies like Lending Club is important. I am suspicious of why they are doing it at a time when Upstart seems to be doing so much better than them ,taking business and profits while they flounder.
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