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1. UK – P2P
“Peer-to-peer business lending platform ArchOver announced on Monday it has nearly doubled its overall lending in the first nine months of 2017. The company reported that since 2017 its total lending has reached £21.39 million, bringing its cumulative total that has been lent to date to over £48 million.”
2. UK – P2P
“THE PARENT firm of peer-to-peer lender FundingKnight hopes to announce, if not complete, the platform’s rebrand by the end of the year.
Andrew Whelan, chief executive officer of GLI Finance, said that the rebrand of FundingKnight will bring it in line with the rest of its Sancus BMS Group.
The move had already been flagged by GLI, as part of a wider strategic review. It has already rebranded P2P lender Platform Black as Sancus Finance.
Alongside the change in branding, FundingKnight is being “realigned” towards asset-backed lending, particularly bridging and development finance.”
3. UK – P2P
Linked Finance, Ireland-based peer-to-peer lending company, has announced the launch of its new type of pension account. The account allows holders of self-managed pensions to make P2P lending to Irish SMEs part of their pension investment portfolio, according to Crowdfundinsider.
“According to Linked Finance, the accounts have been developed in conjunction with some of Ireland’s leading pension trustee companies so that they meet the typical requirements associated with the most common self-managed pension products on the Irish market. The accounts will now allow those lenders, with an existing self-administered pension in place, to lend on Linked Finance as part of their planning for retirement. The online lender noted that lending in this manner allows those users to avail of the tax benefits associated with investing through a pension plan.”
4. UK – Crowdfunding
The City of London trade body Innovate Finance has announced a new competition for FinTech star-upfunding. The deadline for applications is December 31st. Fintech firms that would like to compete stand a chance to win £10,000, a press package that includes media introductions and training, policy advice, free one year membership to Innovate Finance.
5. UK – FinTech
“On Monday, October 9, Lendit Europe, the event gathering 1000+ representatives of the international fintech and lending scene on the banks of the River Thames, opened with a presentation by Imran Gulamhuseinwala OBE, Global Head of FinTech at consultancy firm EY, who spoke about “The Open Banking Revolution.” He delivered the message that the open banking revolution is in the making at global level and, most importantly, that the UK can lead in making it a reality. Paradoxically, the UK will probably be ahead of the European Union (EU), that it is scheduled to leave, in implementing the EU’s Payment Service Directive (PSD2), one of the major advances towards open banking.”
6. US – FinTech
“We see various alternative finance techniques being offered to companies by size. Generally, size matters when it comes to the adoption of different alternative payable and receivable lending techniques. It is important to understand the role of Corporate Treasury, how they are organized and their level of sophistication which can be helpful in understanding new working capital management solutions brought to them.”