LendingClub CEO on How Technology's Transforming Lending Industry

Online loan marketplace LendingClub celebrated its initial public offering on the New York Stock Exchange Thursday under the ticker symbol 'LC.' After shares began trading more than 60% above where they were priced, LendingClub founder and chief executive Renaud Laplanche weighs in on investor demand for the shares. He explains how he believes his company's business model benefits both lenders and borrowers more than traditional bank lending. As Laplanche says his company is aiming to transform the lending industry, he reveals what he believes the potential upside is for technology to displace brick-and-mortar banking. Plus, after achieving immense year-over-year growth in 2014, Laplanche describes how the company is planning to grow going forward.