Funding Circle and Zopa both discussed the rationale for becoming a bank at the AltFi Europe Summit; Funding Circle's Samir Desai talked about three ways online lenders are collaborating with banks and said, "We at Funding Circle have no plans to launch a bank."; comparatively, Zopa is taking the opposite approach and Jaidev Janardana discussed the firm's bank expansion, noting that the firm will be focusing on savings deposit accounts and will be using deposits to fund loans. Source
In an interview with AltFi the CEO of Zopa, Jaidev Janardana, gave some insight into how the company is thinking...
Financial technology firm, Ramp became the latest fintech to hit the valuation of $8 billion after the company secured $750 million in funding.
NayaOne has partnered with Lloyds to develop their Innovation Sandbox, aimed at streamlining the bank's digital development.
Blockchain.com, a popular crypto exchange may end up losing $270 million over its loans to Three Arrows Capital (3AC) that filed for chapter 15.
In a recent speech on the future of money Bank of England Governor Mark Carney said a ban on crypto would stifle the useful innovation with blockchain; Mr Carney tells the FT about payment systems needing to change, “These must now evolve to meet the demands of fully reliable, real-time, distributed transactions.”; he also talked about the community driven approach to the tech and the many use cases for it that increases efficiency and transparency around systems that are in need of an upgrade. Source.
Recent data shows that 67% of millennials in the UK have used point of sale finance services with 42% being...
The Swedish Financial Supervisory Authority (FI) has granted a key licence to TF Bank's Swedish subsidiary TFB Service.
The UK's Metro Bank has enhanced its digital banking platform and launched new services; the new services include advanced technologies across nearly all aspects of the online user experience; the enhancements follow increased competition by digital-only banks including Starling, Atom, Tandem, Loot and Monzo; Metro Bank opened in 2010 and is also an investor in consumer loans through marketplace lender, Zopa. Source
LendIt has announced the judges for its annual PitchIt @ LendIt Europe competition to be held on October 9 and 10; judges include Rob Moffat of Balderton Capital, Reshma Sohoni of Seedcamp, Dan Cobley of Blenheim Chalcot and Patrick Meisberger of CommerzVentures; in comments regarding the competition and its judges, Jason Jones, co-founder and chief executive of LendIt, said: "The high caliber of judges we've had over the years is a testament to how the competition has evolved, and it's inspiring to see another strong panel taking to the stage for the competition. I'm confident that their diverse professional backgrounds will see one of the most exciting PitchIt competitions yet." Source