1.UK – P2P
P2P Finance News reports:
“PEER-TO-PEER consumer lender Elfin Market will launch its Innovative Finance ISA (IFISA) product in September after pushing back the release date in order to implement additional features, co-founder and chief executive Mansour Bouaziz said.
Elfin’s team is working to implement a full suite of features before officially launching the product, Bouaziz told Peer2Peer Finance News, stating they want to get the product to be “as clean as possible”.
Elfin had originally planned to launch the IFISA product around June this year but it has been delayed to develop additional features such as the ability to transfer in ISA funds from other ISA accounts.”
2. UK – AltFi / SMEs
The British Business Bank has turned over decent volume, according to P2PFN.
“STATE-OWNED British Business Bank has lent over £6.6bn to more than 89,000 businesses in the UK over the past year.
This represents a 27 per cent increase on the £5.2bn which was lent in 2017, the bank confirmed.
More than 90 per cent of the finance the bank provided was through smaller, newer, or alternative finance providers. In the 12 months ending on 31 March 2019, the bank also added 13 new delivery partners across its programmes, bringing the total to over 130.”
3. US – FinTech
The Senate Banking Committee has grave doubts about Facebook’s trustworthiness ahead of its Libra token launch.
4. International – AltFi
The Nikkei Asian Review reports:
“Low-cost digital banks in Singapore are set to capture up to 2% of the country's domestic banking sector worth about $24.3 billion, according to an estimate by Moody's Investors Service.
Not required to open physical branches, the new breed of virtual banks are also expected to shake up the market for unsecured loans, and use Singapore as a platform to target Southeast Asia's small- and medium-sized enterprises as well as the region's 250 million unbanked adults.”
5. International – AltFi
Renew Economy reports:
“Australia’s first fossil-free superannuation fund Future Super will partner with peer-to-peer lender RateSetter to provide loans for clean energy projects, including rooftop solar and battery storage systems.
RateSetter works as a peer-to-peer lending service, where anyone can provide funds that can then be loaned to households, or small-businesses looking to install a renewable energy system. Loan providers receive an amount of interest as the loan is repaid supported through savings achieved by the clean energy system.”