Industry News

EIB Set To Lend £100 Million To UK SMEs

The European Investment Bank (EIB) is turning to peer-to-peer (P2P) lending to provide funding for small businesses in the UK. £100 million has been earmarked for funnelling into SMEs via one of the UK’s most successful P2P lenders. The EIB, a non-profit bank owned by member states of the EU, borrows money on capital markets,…

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“Speed” Biggest Attraction Of Crowdfunding

Accessing finance from banks takes time. Too much time for many SMEs. Indeed, since the financial crisis, there hasn’t been very much going in the banking sector’s favour. More than 186,000 jobs have been lost in the industry already, and with the continued rise of FinTech, this figure seems only set to increase. Step in…

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Disruptive Finance Revolution Could Trigger More Banking Layoffs

The financial landscape for UK startups has changed forever in the wake of the global financial crisis. Alternative finance platforms have amassed, taken hold, and now play an irreplaceable part in Britain’s entrepreneurial financial landscape. Indeed, the banking sector has been dealt a series of huge blows since 2008, which has created the space for…

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UK AltFi Market Worth £12.3 Billion By 2020

The rapid growth of the alternative finance market continues to gather pace. A new report commissioned by Fiserv – Future Trends In UK Banking – projects that UK P2P business lending, which stood at just over £1.2 billion in 2014, could be worth in excess of £12 billion a year by the end of the…

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UK The FinTech Hotbed Of Europe

Business Insider UK has recently published research on the state of global investment into FinTech over the past 5 years. William Garrity Associates conducted the research, which shows that the UK remains unequivocally the hotbed for FinTech investment activity in the whole of Europe, single-handedly outstripping the rest of the continent combined. (Image source: uk.businessinsider.com)…

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Hundreds Of Bank Complaints Made By SMEs

Recent figures released from Funding Options – a business finance comparing website – reveal that SMEs made 741 complaints about overdrafts and bank loans to the Financial Ombudsman Service last year. Funding Options has said that the majority of the grievances were made as a result of banks continuing to hold off on their lending…

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Two Thirds Of UK First Time Buyers Using P2P To Fund Deposits

It’s no secret that finding a footing on the first rung of the UK property ladder can be an almost impossible challenge to many would-be first-time buyers. The deposits required for people to buy their own homes are often prohibitive, even to couples with full-time employment where both are earning the UK average salary. In…

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FCA Regulatory Deadline Looms Over P2P Sector

The success of the UK P2P (peer-to-peer) lending sector should not be underestimated. Since the start of April last year, the Financial Conduct Authority (FCA) has received 114 applications from P2P lenders seeking authorisation. However, so far, only 7 of these lenders have received authorisation. As Gillian Roche-Saunders, head of venture finance at Bovill, comments…

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Opinions Split Over Likelihood Of Two-tier SIPP Market

There is a split in opinion in the finance industry as to whether there will emerge a two-tier SIPP (self invested personal pension) sector as the market matures. Some experts are advising that the SIPP market will divide into two distinct categories: Platforms that will specialise in high-risk investments for high-worth investors. Platforms that will…

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