Industry News

Open Banking Set to Boost Fintech

New Open Banking rules are set to boost the UK’s fintech sector.From January 13, 2018 new rules come into force meaning that all of Britain’s banks will be required to make customer account data available to approved rivals.   If Open Banking proves a success, it could mean a wider range of financial services for…

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SMEs Still Hampered by Overdue Payments

New figures released from MarketInvoice show that 62 per cent of small and medium sized enterprise (SME) invoices were paid late in 2017. This evidence comes despite Government measures introduced earlier this year to try to change the UK’s late payment culture.   The scheme announced in January, by the Department for Business, Energy & Industrial…

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Entrepreneurs Want to Quit Due to Cashflow Concerns

A new survey from Barclaycard reveals that 11 per cent of business owners have considered giving up their business as a result of a challenging cashflow problem. These issues keep 63 per cent of entrepreneurs awake at night, with a third admitting that insufficient working capital has stunted their growth plans.   With combined turnover…

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Startups and Small Businesses Drive Growth in Alternative Finance

The Cambridge Centre for Alternative Finance (CCAF) has published new data which shows the UK’s alternative finance market grew by 43 percent in 2016, and researchers are pointing to startups and small businesses as the key driver for that expansion.   Last year, £4.6 billion was raised through alternative channels, up from £3.2 billion in…

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2018, the Year P2P Comes of Age

Analysts believe that 2018 will be the year Peer-to-peer (P2P) comes of age as the major platforms gear up to launch their new innovative finance ISA’s (IFISA) in the new year. According to data from research provider Intelligent Partnership, P2P consumer lending platforms said they expected the new products to boost their annual lending volumes…

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SMEs’ Search for the Fastest Route to Finance

SME’s Are Losing Out Leaving Cash in the Bank Small businesses are benefiting from an increase in bank approval rates, according to research from BiZ2Credit. It reports that 25 per cent of SME loan applications at large banks were approved in October.   This is an improvement from the dismal post-recession statistics when the large banks…

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SME’s Are Losing out Leaving Cash in the Bank

Figures from a YouGov survey show small to medium-sized businesses (SMEs) are missing out on better interest rates by leaving their cash with the Big Four banks. According to the survey some of the UK’s ‘challenger’ banks are now offering rates of up to 1.20 per cent for short-term deposits, none of the high street…

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Small Businesses Spurn Loans For Cash Advances

  More and more lenders are offering small businesses cash advances, a product that offers increased flexibility than traditional loans because the repayments are linked to the business’s turnover.   Nucleus Commercial Finance, this week, became the latest lender to roll out a cash advance product and chief executive Chirag Shah, said it’s because “Fixed…

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More Businesses Are Turning To Alternative Finance

New research from payments provider Worldpay, shows that more small businesses are turning to alternative finance options, including peer-to-peer lending, to support their growth plans.   Almost 40 per cent of business owners claim the growth in alternative finance has made them less reliant on traditional sources of finance for funding, however, the number of…

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Wealth Managers Will Fill “Financing Gap” With P2P

The asset management sector is set to dramatically increase its involvement in peer-to-peer (P2P) lending, according to a new report from PwC.     The report, titled ‘Asset & Wealth Management Revolution: Embracing Exponential Change’, says asset and wealth managers will need to seek investment opportunities in niche areas such as P2P if they are…

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