Funding Circle hits £2bn milestone
Funding Circle became the second UK peer-to-peer lender to hit the £2bn milestone yesterday, as research showed that the sector had a strong start to the year. Funding Circle’s UK division has now lent £2bn to small businesses, the platform said on its Twitter account on Monday. The platform, which also has operations in the US, Germany and the Netherlands, has experienced stratospheric growth over the past year, lending out £820m in the UK in 2016. Globally, its investors lent more than £1.1bn in 2016, with approximately £400m lent in the fourth quarter alone, a record amount for any small-and medium-sized enterprise (SME) direct lending platform. The platform announced in […]
This FinTech CEO is making money instantly available anywhere in the World
The consumer financial services industry currently boasts a $33.5 billion market cap globally, supplying consumers with various loans and lines of credit. For years, the most common and accurate way of indicating whether consumers qualify for an approved loan or credit line was by analyzing general online data and traditional credit intelligence metrics. Today, with real-time consumer data becoming easily accessible and more emphasis is placed on creating cutting edge banking solutions for a mobile generation, financial technology companies have risen and claimed a reputation for actively disrupting the traditional banking infrastructure. Consequently, the existing challenge for FinTech startups and their big bank counterparts is whether to continue operating independently, […]
What is Ethereum?
Ethereum is a worldwide network of interconnected computers (nodes) that enforce, execute and validate programs in a decentralized manner without requiring a server, memory, CPU power, or any other computing function, as it is all provided by thousands of ethereum nodes scattered across the world. In short, ethereum is a global computer. This global computer allows applications, called Decentralized Apps or DApps, through the use of smart contracts – simple javascript like code – to run exactly as they have been programmed, requiring no permission, having no intermediary, in a largely immutable manner, lacking any downtime, censorship, fraud, or third party interference. It further ensures the operation of ETH – […]
Robo-Advisors are a Big Hit in U.S. – but not so much in Europe
Financial advisors need to be aware: robo-advisor services are popular in America, but not pervasive in Europe. Asia, though, is seeing faster growth. A new study shows that robo-advisor services are predominantly used in the U.S. and that only 1% of survey respondents in major European countries like the U.K. and Germany say they are using robo-advisor strategies in their investment portfolios. “Adoption of robo-advice in the United States accelerated dramatically with the entrance of the major retail investment brands,” says Investment Trends in its “2016 Robo-Advice Report.” While 950,000 online share investors already embrace robo-advice, this figure has nearly doubled in the last 12 months alone (47% of the […]
Brexit is a potential boost for Swedish fintech
Stockholm could be set to benefit from the UK’s exit from the European Union by attracting more fintech investment London is among the world’s financial services capitals, but it is one facing many questions as the UK prepares to break away from the European Union (EU). For some countries this represents an opportunity, and the Swedish financial technology (fintech) sector is ready to seize any opportunities. In the past five years, Sweden has attracted the highest number of fintech investments per capita in Europe and its capital Stockholm has branded itself as a fintech hotspot. This follows the success of companies such as Klarna and iZettle. Many in the Nordic […]
European fintech deals hit 5-year high in 2016
Europe’s advantage in financial technology has been highlighted by figures showing fintech deals hit a five-year high on the continent in 2016, defying the global trend of a slight decline. The number of deals in European fintech rose 11 per cent to 179 in 2016, compared to a 1 per cent global drop, according to the data analytics company CBInsights. Germany and the UK dominated, staking claim to nine out of the 10 biggest European fintech deals. The deals grew 124 per cent compared with 2011’s total, in contrast to an 8 per cent drop-off in deal activity in the US to 422 deals — identical to 2014 levels, the […]
4 Reasons to use a Digital Wallet
Are you using a digital wallet? If not, you are not alone. Only about 13 percent of smartphone users have adopted digital wallets, the relatively new technology that allows our mobile devices to execute a myriad of financial transactions. But digital wallets are coming of age at a lightning pace. Companies like Due offer digital wallets that have streamlined the way we pay for things and get paid, and are changing the world of commerce itself. So if you have been slow to adapt to the word of digital wallets, here are four reasons to change your mind, and get a digital wallet today. Security Losing your wallet, or worse, […]
Australian FinTech launches International FinTech platform
The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, ukfintech.internationalfintech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]
