1.UK – AltFi
Early next year the digital bank plans to launch an entire Revolut Youth app frontend for children to manage their limited accounts from a smartphone.
2. UK - AltFi
“Online savings and investments platform Smarterly has partnered with OakNorth Bank to launch a range of Cash Individual Savings Accounts (ISAs).
The product range includes five Cash ISA Notice accounts, exclusive to Smarterly, ranging from 35 days at 1.05 per cent to one year at 1.25 per cent.
Similarly with Monzo, it is still preferable - on a purely interest-rate basis - to go directy to OakNorth. Smarterly’s 35 day Notice account has 1.05 per cent annual rate of interest while OakNorth’s own is 1.36 per cent, a 29 basis points difference.”
3. UK - AltFi
The Trading Standards watchdog has been prevented from investigating frauds for more than two years because Action Fraud has failed to pass on intelligence from victims, The Times reports.
“Lord Harris of Haringey, chairman of National Trading Standards, wrote to colleagues last month informing them that the organisation was still “not receiving any referrals from Action Fraud” despite repeated complaints to the police, the Home Office and ministers.
“This is extremely frustrating for all of us,” he wrote. “I believe that consumers and legitimate businesses are being let down.”
4. UK - AltFi
CONRAD Ford, founder and chief executive of Funding Options, is stepping down after eight years of leadership, reports P2P Finance News.
“Funding Options said on Thursday that Ford will remain involved with the business finance marketplace, both as a shareholder and founder.
The firm did not make an announcement regarding Ford’s successor.”
5. International - AltFi
The Cambridge Centre for Alternative Finance (CCAF) has published its 2nd Global Enterprise Blockchain Benchmarking Study. CCAF is the leading Fintech research in the world. The Centre has published multiple reports on the global alternative finance market which are frequently referenced by policymakers and industry participants, reports Crowdfundinsider.
CCAF’s first blockchain report was highly regarded and well-received by industry followers.
This newest report on blockchain “delves into the granular detail of how the enterprise blockchain ecosystem has evolved” since the publication CCAF’s first report in 2017. Between July and November 2018, the Centre collected data from more than 160 entities and 67 live networks. This data was augmented with data collected between April and June 2019 from 67 live enterprise blockchain networks
The research notes that adoption of enterprise blockchains within the private sector has been increasing with several networks moving from ideation to production but the technology is “not a panacea.” Additionally, much of the progress in live projects is via permissioned blockchain networks and not the widely promoted permissionless iterations.