1.UK - FinTech
“A new fund aimed at supporting growth-focused businesses frustrated by a lack of cash liquidity has been launched by a Belfast-based alternative finance specialist Upstream.
The recovery stimulus fund is expected to provide much-needed working capital to SME and corporate clients thoughout Ireland and play a vital role in the re-booting of the economies in both jurisdictions.
Upstream founder and managing director Judith Totten said: “As many companies transition from ‘lock-down’ the actions that the business community take in the coming weeks and months will have a profound impact on the outlook for our respective economies for years to come.”
2. UK – AltFi
Dame Elizabeth Gloster, who is leading an investigation into the FCA’s handling of London Capital & Finance, has written to the authority warning that it will not be possible to complete her work by July 10. A date of September 30 has been agreed.”
3. US – FinTech
“Scotiabank (TSX: BNS), the third-largest bank in Canada, which has been exploring ways to upgrade its systems to make them quantum-resistant, has launched a new information portal for seniors, known as “Bank Your Way,” which will serve as a tool to help clients navigate all the different options available with digital banking.
The Scotiabank team notes that the month of June 2020 kicks off Senior’s month, which should be a time when we acknowledge and celebrate their contributions to communities.”
4. International – FinTech/Real Estate
P2P Finance News reports:
“EstateGuru has reached the 50,000 investor milestone as it enters the final week of its crowdfunding campaign.
The European property peer-to-peer lender is already more than 200 per cent above its crowdfunding target on Seedrs and has reported a boom in investor registrations on its platform.
It said 12,952 new investors from 111 countries have joined EstateGuru since January 2020, taking it past 50,000.
The largest number of new investors joined from Germany – a market it only entered in March – making it the largest group overall at a total of 12,454, ahead of the Estonian community at 12,237 investors.
The platform has also paid out €15m (£13.4m) in interest payments.
“Now we can say that the deepest curve of the crisis is over for this time,” Marek Pärtel, co-founder of EstateGuru, said.
“Our investment volumes have almost reached the pre-crisis levels.”
5. International – FinTech
“Let’s say you use your driving license as your ID; you’re letting the bartender know that you’re not underage, but you’re also giving them access to your date of birth, your full name, and your home address. Imagine if there was a way to only share the data you had to, rather than surrendering every piece of information.
From the UK’s data protection acts, to the Cambridge Analytica scandal, it’s clear that the threat to user data is still front of mind for both citizens and regulators alike. Now more than ever, information capitalism means that data, whether rightly or wrongly, is a commodity. For instance, it emerged in 2019 that Facebook was sitting on a database of millions of user phone numbers, and in the same year the company admitted to listening to users conversations through messenger. Even biological information isn’t safe after the DNA testing company FamilyTreeDNA admitted to sharing customer’s genetic data with the FBI in secret. In response, people are reconsidering how much they share online, and are looking for ways to ensure the privacy and security of their information.”