Peer-to-peer platform Folk2Folk gets authorised by the regulator
Folk2Folk has become the largest fully authorised peer-to-peer platform in Britain. The company announced on Wednesday that the regulator, the Financial Conduct Authority (FCA), has given it full operating permissions, allowing it to offer the Innovative Finance ISA and giving it a stamp of approval that it can market to customers. Cornwall-based Folk2Folk lets people lend money to local projects and business in their area and has lent over £125 million ($157.5 million) across its platform since launch in 2013. It is different to other crowdfunding platforms in that it has a network of shops around the countries where businesses and lenders can talk to staff about lending on the […]
Banks team up with their FinTech competitors
These are challenging times for the incumbent heavyweights of the financial services sector. Beset by regulatory, governance, technological, capital, and investment issues, they are increasingly facing competition for business from a whole host of new players, primarily from ‘FinTechs’. Growth of marketplace lending In the case of online lenders, this trend began in the UK in the mid-2000s when Zopa, the world’s first digital and now Europe’s largest peer-to-peer (now called marketplace) provider, launched, quickly followed by the likes of Prosper, Lending Club, and OnDeck in the US. Eleven years on, Zopa has lent around 1.8 billion pounds to more than 150,000 borrowers funded by 63,000 investors of whom 53,000 […]
The Pulse of Fintech
‘ The Pulse of Fintech ’ is a quarterly report created by KPMG along with KPMG Enterprise’s Global Network for Innovative Startups and CB Insights (the ‘go to’ name for insights related to venture capital investment) which launched on August 17th, 2016. The series analyses the latest global trends in venture capital investment data on the fintech sector. Given the significant interest in fintech globally, and its ongoing evolution in terms of market drivers, technologies and potential use-cases, KPMG and CB Insights are partnering to bring you the pulse on fintech investment globally. Each quarter, we’ll highlight key fintech deals, issues and challenges around the world, in addition to key […]
Fintech platform revenues set for massive rise: Juniper
Fintech platform revenues for unsecured consumer loans issued using machine learning technology are set to jump by a whopping 960% globally over the next six years, according to new research from Juniper. According to the latest report on the worldwide Fintech market from Juniper Research, revenues will rise to US$17 billion by 2021, with spending advancing rapidly due to the highly data-driven nature of the market, “meaning that AI integration is likely to spell substantial benefits”. Juniper says that until recently, machine learning was too expensive and computationally time-intensive to break into the mainstream, while access to extensive data sets for algorithm training were limited. Research author Steffen Sorrell says […]
Celebrate innovation that puts the customer in charge
It’s no secret that the word innovation is in vogue. It’s not just that it’s one of our prime minister’s favourite words, it’s a trend across the English-speaking world. Use of the word has grown steadily since 1943, according to Google’s database of books published from 1800 to 2008. It was used almost twice as much in 2008 as 1969, the year humans first landed on the moon, and it’s a dead cert the past eight years have been no different. But using “innovation” as a mantra doesn’t make you more innovative. Many people feel that it’s become, or becoming, a meaningless catchphrase. It’s time to reclaim it. It’s a […]
LendIt USA Conference – San Francisco – 11-12 April 2016
Australian FinTech is excited to be a Media Partner for the upcoming LendIt USA conference taking place in San Francisco on April 11-12. LendIt USA is the world’s largest annual gathering of the online lending community where established and emerging platforms, investors and technology providers from around the world come to learn, network and do business. Now in its fourth year, the 2016 event will be the largest online lending expo in history with 4000 attendees. This is your chance to share ideas with innovators and leaders in marketplace lending. Confirmed speakers include: Renaud Laplanche, Founder & CEO, Lending Club Ron Suber, President, Prosper Marketplace Peter Thiel, Entrepreneur & Investor John […]
LendIt USA Conference April 11-12
Australian Fintech is excited to be a Media Partner for the upcoming LendIt USA conference taking place in San Francisco on April 11-12. LendIt USA is the world’s largest annual gathering of the online lending community where established and emerging platforms, investors and technology providers from around the world come to learn, network and do business. Now in its fourth year, the 2016 event will be the largest online lending expo in history with 4000 attendees. This is your chance to share ideas with innovators and leaders in marketplace lending. Confirmed speakers include: · Renaud Laplanche, Founder & CEO, Lending Club · Ron Suber, President, Prosper Marketplace · Peter Thiel, Entrepreneur & Investor · John […]
