The latest news from the world of Alternative Finance and FinTech
In the news this week
The Chancellor of the Exchequer, Philip Hammond, announced a string of measures to bolster the UK’s FinTech industry this week, including a new cryptocurrency taskforce to both regulate and support crypto technologies. Hammond also revealed a new "FinTech bridge" to Australia, following existing links with Singapore, China, Korea, and Hong Kong. In other news, UK FinTech firms expect 88 per cent growth over the next three years, according to a survey by the London Stock Exchange Group and TheCityUK.
The Treasury has announced the launch of a cryptocurrency task force made up of the Bank of England (BOE) and the Financial Conduct Authority (FCA) that will both regulate and support crypto technologies. (CoinTelegraph)
UK-based financial technology firms expect 88 per cent growth over the next three years, topping the average country's expectations, according to a global FinTech survey by the London Stock Exchange Group and TheCityUK. (City A.M.)
Peer-to-peer investment manager Goji is launching a white label offering for investment providers that have been curtailed by recent regulatory changes, so that they can create their own alternative asset products for customers. (P2P Finance News)
RateSetter chief executive and co-founder Rhydian Lewis has underlined the importance of competition – and not just collaboration – between FinTechs and banks for true innovation to occur. (P2P Finance News)
What we’ve seen in Search
So far in 2018, the number of customers searching to switch their current account has been noticeably above 2016 and 2017 levels – are we seeing the impact of Digital Banking on the sector?
Unless you’ve been living in a cave this week, you can’t have missed the furore surrounding Facebook and a previously little known business in Cambridge. Having been impressed by a Facebook app called myPersonality, developed by Cambridge University academics, a political marketing company...
Google has released a policy update this week related to restricted financial products. The update, first mentioned in Scott Spencer’s Google blog on Wednesday 14th March, says: Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)...
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