Investing in FinTech

Zopa named Best Personal Loan Provider & Best Alternative Finance Provider at the 2017 British Bank Awards

Zopa, the UK’s very first peer to peer lending platform, announced on Monday it was named Best Personal Loan Provider & Best Alternative Finance Provider at the 2017 British Bank Awards. The online lender revealed in a blog post: “We’re excited to announce we’ve been named both the Best Personal Loan Provider and the Best Alternative Finance Provider at the British Bank Awards. These awards are special to us because they are voted for by you, our customers, in a survey at the start of the year. Our goal is to provide people with great value products and excellent service, so it’s fantastic to know our customers believe we’re achieving […]

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Feb
23

Thousands use LV’s robo advice service

Almost 6,000 people have used LV’s full automated financial advice service since it was launched in summer 2015, in an early indication that there is a significant market for comprehensive robo advice. The friendly society also revealed that 24,000 people had used its less comprehensive “automated guidance” service. However, LV was “unable” to reveal how many of the 6,000 customers who paid the £199 for a full statement of advice went on to pay £499 to execute the statement of advice. A spokesperson added that “a number of clients” who initially engaged online had gone on to call LV’s telephone advice service. “[This] suggests that there is demand for online […]

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LandlordInvest’s Innovative Finance ISA is now flexible

LandlordInvest, having recently launched the first residential mortgage-backed IFISA, has made its IFISA flexible. Flexible ISA means that an investor can replace, in whole or in part, cash the investor has withdrawn, without the replacement counting towards the investor’s subscription limit for a tax year. The flexible ISA was only introduced in the current year and offers savers the ability to move cash between all types of ISAs (cash, stocks & shares and the IFISA). LandlordInvest’s property-backed flexible IFISA lets savers invest up to £15,240 in the current tax year (rising to £20,000 in the next tax year) in peer-to-peer loans secured by residential mortgages, and with the ability to […]

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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 […]

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Feb
17

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 […]

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Feb
16

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 […]

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Feb
13

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 […]

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Feb
10

Fintech MarketInvoice aims for £900 million lending in 2017, launches Pro product

Fintech company MarketInvoice is planning to more than double the size of its business in 2017 as it launches new products in a bid to become the destination for small business short-term finance. MarketInvoice announced on Thursday that it hopes to reach £2 billion in total lending by the end of 2017, which would represent £900 million in lending in 2017 and 133% growth on its 2016 volumes. Founder and CEO Anil Stocker told Business Insider: “It took us five years to do our first billion; we’re trying to do our second in a year. It’s very exciting.” Peer-to-peer platform MarketInvoice started out in 2010 as a platform to let […]

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