P2P property lending has been providing steady returns in the UK, according to a report from rating agency, 4thWay; since 2013, UK P2P property lenders have lent £1.6 billion with returns ranging from 2.25% to 12.7%; lenders in the category have achieved success through thorough underwriting processes with maximum loan to value ratios of 70% to 80% and most loans secured by the property. Source
EverCompliant’s Founder & CEO Ron Teicher says the internet has made money laundering a lot easier; according to Teicher up...
To be onboarded to the platform, creators simply apply for access here to undergo Klarna's validation process.
UK-based digital bank Revolut has rolled out its new “financial super app” that it says will “reimagine and redefine” its...
Ablrate was recently authorized by the FCA and is now launching their custom Innovative Finance ISA; Ablrate offers a self-select marketplace where investors hand pick the loans they look to invest in; this is one of many products the company will launch in this arena; Ablrate facilitates asset-backed loans with specialization in aircraft and capital equipment; they currently will take cash deposits for their IFISA but no transfers as David Bradley-Ward, CEO of Ablrate, tells AltFi, "We want to be able to get everyone going with their IFISA first and then allow transfers in from other providers after the first week of our launch." Source
Niels Turfboer of Spotcap provides insight on UK disclosure standards for online lenders, a topic he will be discussing at the AltFi Europe Summit; Niels Turfboer presents the importance of framing the disclosure standards debate and evaluates some of the approaches being used in the industry; notes the disclosure of the UK's big four lenders and the SMART Box introduced by the US Innovative Lending Platform Association; also mentions the involvement of third parties in the disclosure process. Source
Kaiko, a cryptocurrency data provider, said on Tuesday that it had raised $53 million in a Series B funding round.
Swiss fintech company Numbrs has blamed jealous banks for killing off its original business model as a third-party provider of financial products. So it has reinvented itself under the banner of the ultimate bank killer – bitcoin.
SONECT is a platform that can convert anyone or any shop into a virtual ATM; the startup beat out more than 100 companies and 8 finalist pitches; “Taking part in LendIt this year has given us fantastic exposure to London based VCs in the fintech capital of Europe as well as more insight into the UK market,” SONECT founder and CEO Sandipan Chakrabortty said to Bankless Times. Source.
In its most recent podcast, ReBank talked with Rob Moffat of Balderton Capital; the podcast provides a venture capitalist's view on European fintech; Moffat talks about the market opportunities for investment and the firm's investment portfolio; LendIt will also be featuring Rob Moffat as a PitchIt judge at this year's LendIt Europe event in October. Source