News from Another Crowd

Academics Cooler Than Commentators on Santander

The Yorkshire Post weighs in with its own view of the recent Funding Circle-Santander deal “seems like the perfect partnership and it signals a sea change in the way high street banks and alternative funders exist in glorious isolation”.

“The referral arrangement will see Santander proactively refer small-business customers looking for a loan to Funding Circle, the online marketplace for business loans. Where Funding Circle is better placed to help, referrals will take place on Santander’s website and in letters to customers,” adds the newspaper.

Crowdfunding CEO Blasts UK Banks

“Banks are burdened with massive costs - and a workforce that expects substantial bonuses, whatever the direction of profits,” opines Nicola Horlick, CEO of new crowdfunding platform, Money&Co., in her debut blog.

Horlick cites the heavy costs of banking business for small and medium-sized enterprises (SMEs) as a prime reason for banks’ inability to service credit requirements for businesses of this type and size.

The Great Savings Robbery

In 2014, gross interest rates on savings are half what they were fifty years ago - 3.50 per cent in 1964, compared to only 1.75 per cent in 2014. But the problem is inflation. In April, Consumer Price (CPI) inflation was up 1.8 per cent year-on-year, and the Retail Price Index (RPI) was higher, at 2.5 per cent.

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