Posts Tagged: Financial Technology

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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The Alternative Lending Landscape Sees New Entrants

The investment banking giant Goldman Sachs is considering launching a consumer lending arm in the UK, which will compete with the likes of Zopa and RateSetter.   The US bank is reportedly looking to expand its retail banking business in the UK, initially with savings accounts and potentially moving into lending with the roll out of…

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Will Traditional Banks Take on Their Challengers?

  The number of the new banks seeking to disrupt the UK financial services landscape has increased in the last couple of years. These so-called ‘challenger banks’ are luring customers away from the traditional banks at an alarming pace, growing their customer base from those who are still suspicious of traditional institutions since the financial…

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Peer-To-Peer Lending Is in Good Health

The peer-to-peer (P2P) lending sector is seeing more and more money finding its way into the industry and according to AltFi’s David Stevenson “Overall the sector is in good health.”   Across the pond, the US marketplace lending space also appears to have emerged from its year-long malaise. With the industry leading platform Prosper, announcing significant…

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Fintech Investment at Its Highest Ever Level

The streak of historically high levels of fintech investment continues in several industries and prominently in the alternative finance industry as news breaks that the UK’s payments start-up, TransferWise, has reportedly started negotiations for a new funding round. According to reports the company which now sees more than £1 billion transferred on its app each…

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Peer-To-Peer Lenders Can’t Find Enough Borrowers

Disruptive innovations are reshaping the way financial services are structured, provisioned and consumed and peer-to-peer lending platforms know that their investment in technology is their advantage over traditional players.   Matching lenders and borrowers via a seamless, transparent, user-friendly interface is vital but many platforms have focused primarily on the investor side of things and…

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Alternative Finance Firms Makeup 20% of 2017s FinTech50

The latest FinTech50 list is out, and alternative finance providers and digital banks account for a fifth of its constituents. RateSetter, MarketInvoice and LendInvest have made this year’s list, while Funding Circle and Zopa have been awarded a place in the Fintech50 Hall of Fame.   Alongside P2P platforms Zopa and Funding Circle, other entrants…

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Businesses Need to Change Their Attitude to Debt

  New data published shows that confidence among UK manufacturers has edged up slightly since last month yet businesses are still reluctant to take on debt finance. Economic and political uncertainty post the EU referendum weighs heavily on business owners and despite the weak pound driving international demand for UK goods, manufacturers are shying away…

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Fintech Summit Aims to Boost Sector Investment

While the annual fintech conference in London gets underway this week a new report from law firm Simmons & Simmons reveals that three-quarters of international banks and asset managers are looking to boost their collaboration with fintech companies.   The report also reveals 31 per cent of those polled were seeking an acquisition within the…

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BOE Is Building a Fintech Network for Knowledge Sharing

  The UK’s central bank is gathering the brightest minds in fintech to help it keep up-to-date with developments in the fast-growing sector.   The initiative has been launched by the central bank’s fintech accelerator, which works with financial services firms to develop new tools for use by businesses in the City. The cohorts will…

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