The British Business Bank is distributing an "Evaluation Report" on the impact of the COVID loan guarantees that indicates 150,000 to 500,000 businesses were...
The company beat on revenue growth and loans under management in Q4 2018; revenue growth was 55%, above the 50%...
German-based marketplace lender Bitbond has partnered with African payments provider BitPesa to improve the lending experience for small and medium enterprise (SME) borrowers; Bitbond will enhance the blockchain lending services of its platform by incorporating cross-border payments through BitPesa; the BitPesa payments platform can make payments in 20 minutes and is now live in Kenya, Nigeria, Uganda and Tanzania. Source
Launches 'Buy Now Pay Later' scheme, sets up a wholly owned subsidiary to extend loans for the service
UK challenger bank OakNorth has hired three new senior executives in anticipation of higher lending demand post-Brexit; Georgy Naydenov and Stuart Blair will join OakNorth as debt finance directors and David Webley was hired as a credit director; the bank's loan book has grown by 300% since the June referendum vote with loans of 300 million British pounds ($368.85 million); for 2017 it anticipates lending over 500 million British pounds ($614.75 million). Source
Zand, a digital bank helmed by Dubai property tycoon Mohamed Alabbar and backed by investors including Franklin Templeton, has been granted a banking license by the United Arab Emirates.
BNY Mellon says Chainalysis’ compliance software will keep an eye on crypto trends, as well as the nitty gritty of real-time transaction monitoring.
UK marketplace lender Landbay has been granted full authorization by the Financial Conduct Authority (FCA); the platform primarily lends to borrowers seeking rental property mortgage loans; with the FCA authorization the Landbay platform can now seek to offer innovative finance individual savings accounts to its investors. Source
Swedish buy now, pay later giant Klarna is to let go of approximately 10% of its global workforce due to ongoing challenging global economic conditions.
RateSetter has added additional detail to its annual performance statistics to provide greater transparency; the additional details provide data on loan originations by lending type with a breakdown of consumer and commercial loans; for commercial lending the firm will now also disclose loans to property developers, small and medium size enterprises, and wholesale lenders; the changes were prompted by a request from the Financial Conduct Authority for greater disclosure on wholesale lending across the industry; the update from RateSetter also included a report on a defaulted loan that RateSetter has taken onto its balance sheet to protect investors. Source