News Briefing - Crowdfunding, SME And Alternative Finance

Conference room, just before the audience arrives.

1.UK – AltFi

AltFi News reports on the “first” digital IFA:

“What AltFi believes to be the UK’s first fully-regulated digital independent financial adviser has launched, offering a blend of automated and human advice to employees of Unilever, Calvin Klein and the NHS.

MyEva, created by fintech Wealth Wizards, uses a web-app and chatbot interface to guide employees through a financial health check followed by personalised recommendations, including on workplace pension contributions, building up longer-term savings and investments.

Traditionally certified independent financial advice can cost £1,000s and is typically reserved for those with vast sums of private wealth.”

2. UK – P2P

 

Peer2Peer Finance News reports:

“PEER-TO-PEER lenders will be among the financial services firms seeing their regulatory bills increase this month.

The Financial Conduct Authority (FCA) has confirmed its annual funding requirement for 2019/2020, revealing that it will need £558.5m from all regulated firms.

This is up from £543m last year and helps fund the City watchdog’s ongoing activities as well as the costs of preparing for Brexit.

The regulator has proposed a 1.9 per cent increase in its minimum fee –  which is paid by all regulated firms  – while consumer credit firms could see a three per cent rise in fees.

A policy statement from the FCA said respondents had expressed their expectation that consumer credit firms would see a reduction in their fees once the accelerated recovery of the regime’s set-up costs was completed.

However, the regulator did not give any further explanation of the increase in their fees.”

3. US – P2P

 

Crowdfund Insider reports:

“Online marketplace lending platform LendingClub (NYSE: LC) announced on Monday it has issued over $2 Billion in CLUB Certificates since the program’s launch less than a year and a half ago. LendingClub reported that it took a year for the lender to issue its first billion in CLUB Certificates and six months to issue the second billion. This structure consists of whole loans structured as a “pass-through security.”

As previously reported, the Club Certificates is an entirely new pass through security designed to make it easier for institutional investors to participate in LendingClub originated loans.”

4. US – FinTech

AIthority (yes, we noticed the pun in your name) carries a release:

“DeFiner, announces the launch of its decentralized platform in the US. DeFiner enables users to effortlessly participate in peer-to-peer crypto loans that are securely executed using blockchain technology and through its fully decentralized finance application (dApp.) This innovative approach gives borrowers and lenders full control of setting their own rates and requirements while removing the costs associated with third party intermediaries.”


5. International – FinTech

A growth story from e27.co:

“Funding Societies supports SME owners in starting or expanding their businesses by providing access to funding from individuals or institutional investors.

Founded in 2015, the company has grown into a 300-people organization with over S$500 million (US$370 million) in funding. During this process, Funding Societiespenetrated a few Southeast Asian markets and faced different challenges: growing a unique and positive culture while iterating its products a few times. I had the opportunity to speak with Ishan Agrawal, VP Engineering at Funding Societies, to learn more about the lessons extracted from this hyper-growth journey."

6. International – FinTech

Crypto Briefing on the rise of an institution that “hates banks”.