Happen Sheds LendingClub Name and Launches Digital Bank

LendingClub has officially rebranded as Happen and launched its full-scale digital bank. This change is more than just a new name; it marks the company's complete transition from a peer-to-peer lending pioneer to a regulated financial institution. For merchants and retailers who offer Happen (formerly LendingClub) financing to their customers, this move suggests a more stable and diverse source of capital to fund consumer loans. The rebranding to Happen is designed to signals a broader suite of financial services beyond traditional personal loans. By operating as a digital bank, the company can now offer integrated checking and savings accounts alongside its lending products. This shift generally allows lenders to lower their cost of funds, which can lead to more competitive interest rates or better terms for consumers shopping at your business. You will notice the branding change across their website, mobile app, and customer communications immediately. If you currently use their financing tools at the point of sale, you should update any marketing materials or mentions of LendingClub to the new Happen Bank name to avoid customer confusion during the checkout process.

Source: PYMNTS

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