CRYPTO-BACKED peer-to-peer lending platform ETHLend has reached more than £2m of loans as it announces new incentives to encourage users to transact with its LEND token. The platform, which lets investors back business and personal loans worldwide using the Ethereum blockchain, launched with an initial coin offering (ICO) last November, creating LEND tokens that can […]
With the industry’s largest lenders now offering the Innovative Finance ISA, surely the tax wrapper will cement its status in the mainstream investment space this year? We provide an update on the product’s process IT IS hoped that the 2017-18 tax year will mark a watershed moment for the Innovative Finance ISA (IFISA). The product […]
ZOPA has launched an income verification tool that automatically pulls in customer data made available through Open Banking. The tool verifies a customer’s income using transaction data from their bank, removing the need to manually upload documents. The solution is provided by London fintech TrueLayer, which creates APIs for platforms to access data from financial […]
ASSETZ Capital has hired two new relationship directors and a credit manager to boost loan origination in the North West and South Yorkshire regions. The peer-to-peer business lender named Karl Kent as relationship director for the South Yorkshire region. He previously worked in similar roles at Lloyds Bank for two years and RBS for 20 […]
MARKETINVOICE, the peer-to-peer invoice finance and business loans platform, has partnered with trade credit insurance provider Euler Hermes to help customers safeguard themselves against bad debt. MarketInvoice customers who use invoice finance solutions will be offered credit insurance which protects them if their customer becomes insolvent or fails to pay within the agreed terms. The policy […]
CHRISTINE Farnish (pictured) is to step down as chair of the Peer-to-Peer Finance Association (P2PFA) after five years in the role. Farnish was appointed chair of the self-regulatory trade body in December 2012, replacing Zopa founder Giles Andrews, and took on the role during the following year. P2PFA rules state that a chair serves a […]
THE VALUE of outstanding personal loans in Britain is rising four times faster than wages, new analysis reveals. Households had outstanding loans (excluding student loans, credit cards and payday lending) worth £37bn in 2016-17, according to statistics from 10 of the UK’s biggest banks and building societies. This figure has risen by £7bn, or 25 […]
LONDON tech salaries are $57,000 (£40,830) lower than the global average for the industry, new research has found. Professionals in the technology sector receive average pay of $78,000 in the UK capital, compared to a global average of $135,000. Analysis by jobs site Hired found that the highest salaries were paid in the San Francisco […]
LENDY has unveiled a raft of new appointments to support the company’s growth. The peer-to-peer secured property lender said on Thursday that it has hired accounting veteran Andrew Wawrzyniak (pictured) as its new head of finance. Wawrzyniak was previously head of finance at fund manager Fund Partners, whose clients include Octopus Investments, Pictet Asset Management […]
THE BANK of England has signalled that interest rates may be increased earlier and higher than expected, in what could be good news for savers but bad for those servicing debts. The Bank’s February inflation report, released on Thursday, said if inflation remains at its stubbornly high levels, monetary policy would need to be tightened […]
PEER-TO-PEER business lender Rebuildingsociety has secured an agreement with Leeds City Council whereby the local authority funds loans through its platform. The council will review business loan requests from companies with an LS postcode prefix, consider the industry and location of the company, and contribute to the loan amounts required by suitable applicants. Read more: […]
ENVIRONMENTALLY conscious investors have the chance to invest in a new ISA-eligible bond, as peer-to-peer investment manager Goji and alternative investment firm Prestige-Prime Group have joined up to launch a renewables lending bond. The bond, unveiled on Wednesday, enables financial advisers and wealth to invest in more than 40 renewables projects, including wind, solar and […]
ABLRATE has launched its first portfolio loan product, a flexible business finance facility that its investors can hold in an Innovative Finance ISA (IFISA). The peer-to-peer secured business lender said on Wednesday that the first single company portfolio loan is for Merchant Transaction Finance (MTF) – a trade financier looking to scale up its operations. […]
VENTURE capital (VC) investment in UK fintech firms rose by 153 per cent to $1.8bn (£1.3bn) in 2017, making it a record year for the sector. The amount invested surpassed the previous record-breaking total of $1.1bn in 2015, and followed a decrease in 2016 when investment dropped to just over $700m. The UK attracted 224 […]
RANGER Direct Lending (RDL) saw its net asset value (NAV) slide 2.95 per cent over 2017 due to its ongoing Princeton legal arbitration. The investment trust’s December update showed its NAV return was 4.53 per cent in 2017 but the ongoing legal dispute with its Princeton investment over bankrupt lender Argon pushed it into negative […]