Many investors like the simplicity, ease and liquidity of investing in a publicly traded fund. There are currently five closed...
UK invoice financing platform MarketInvoice reported a record day of transactions this week; the platform transacted GBP4.1 million ($5.38 million) in invoice advances to UK businesses; the firm's MarketInvoice Pro product has been a factor supporting increased lending volumes on the platform with the new product offering an open funding line for businesses. Source
A panel of finance executives discussed UK customer banking data at the UK Treasury's International Fintech conference in London; Antony Jenkins said financial data could potentially be controlled by varying companies with both alternative technology providers and financial institutions having different advantages; HSBC's Douglas Flint said a debate on data ownership and maintenance is still open for discussion. Source
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
According to the Liberum AltFi Volume Index, September 2016 originations for online lenders hit £364m in the UK. September was...
Revolut has partnered with Trussle to offer mortgage loan solutions for its clients; the partnership is the most recent in a series of partnerships for the digital only bank, adding to lending solutions from lenders Lending Works and Bricklane; Trussle will provide a multi-lender service to Revolut customers through technology that can recommend mortgage loans for first time borrowers and suggest alternatives for current borrowers. Source
A report from P2P lender BondMason says wealth managers are becoming more aware of and comfortable with marketplace lending investments; over half of wealth managers would now recommend marketplace lending investments as an alternative to mainstream cash products; institutional investors are also increasingly allocating to marketplace loans with over half of the product's investments attributed to institutional investors. Source
Chancellor, Jeremy Hunt presented a vision to make the the UK "the next silicon valley" but changes could stifle fintech innovation.
The updated guidance document makes an explicit reference to crypto assets, crypto exchange providers, and custodian wallet providers.
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