Watch live today at 2:30pm ET as LendIt Fintech International Innovator of the Year award winner Imad Malhas, CEO, IrisGuard talks about financial inclusion, technology, and refugees at the World Bank Group Meetings. Source.
Alfa Finance Group has launched a new P2P lender in Latvia called DoFinance; the platform is available in all EU and EEA countries and will focus on consumer loans; it has over 150,000 registered clients and has originated over EUR16 million ($17 million) in loans. Source
Europe's fintechs are hitting the $1bn mark with fewer downloads than ever, a new analysis shows.
Square has launched its mobile payment services for businesses in the UK; the UK marks the fifth country to offer the firm's services and Jack Dorsey says the firm plans to also expand further throughout Europe; with the launch, small businesses in the UK can now begin to use all of the services offered through the firm's feature products, the Square Reader and the Square Point of Sale app for transactions. Source
The P2PFA has added Folk2Folk expanding its membership to nine; Folk2Folk is the only P2P lender in the UK to offer regional branch offices for customers to meet with representatives; the lending platform was authorized by the Financial Conduct Authority in December 2016; it is a secured property small business lender and has lent a total of approximately £134 million ($167.28 million) to small businesses. Source
Embedded finance will enable the creation of entirely new consumer experiences and business models, writes Nigel Verdon, CEO and co-founder, Railsbank.
Commercial credit data sharing scheme (CCDS) is a market solution providing data sharing for alternative lenders in the UK; the CCDS was launched on April 1, 2016 and is now nearing full integration which means the majority of mandated banks have implemented systems to share their data with UK credit agencies; CCDS will provide current account banking data to credit agencies for approximately 98% of small businesses in the UK which is expected to help improve credit underwriting and broaden credit availability. Source
According to research from AltFi fintech funds have outperformed the market in the first half of 2020; AltFi’s research shows...
In our latest guest post Jorrit van Rijswijk of Dynamic Credit digs into all of the European SME support programs...
Deposit marketplace Raisin moved into the UK market by acquiring Manchester-based fintech PBF Solutions; Tamaz Georgadze, Raisin’s CEO and founder, tells AltFi “The acquisition of PBF gives us the opportunity to significantly broaden our offer to UK savers and deposit takers." Source.