AltFi News - 23.09.16

The Marketing Eye Newsletter

The latest news from the world of Alternative Finance and FinTech

Concern as SMEs turn away from alternative finance


When the economic crisis was at its lowest point, there was great emphasis on the need for alternatives to traditional banking supports (Trends in invoice finance in Ireland). (Irish Examiner)

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Peer-to-peer lender passes £100 million milestone for auto loans

RateSetter, which was only launched in 2010, has now delivered more than £100 million in car financing, becoming “the first peer-to-peer lending platform to lend this amount through motor partnerships”. (Asset Finance International)

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Growth Street launches only P2P overdraft for SMEs

Businesses investing excess cash via Growth Street can now earn up to 6.5% AER, outstripping the minimal rates offered by high street banks on business saving accounts. (Finextra)

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Lloyds seeks head of fintech discovery

Lloyds Banking Group is on the hunt for a head of "fintech discovery" to help lead its £1 billion, three year digital transformation programme. (Finextra)

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Atom Bank is raising £100 million and getting into mortgages

App-only challenger bank is raising £100 million ($129.6 million) from its shareholders to break into mortgages, according to Sky News. (Business Insider)

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Leeds community gets behind UK regional fintech push

As new Finextra research finds that the Leeds City Region has a clear opportunity to expand and further benefit from its growing fintech ecosystem, leading local players have come together to endorse a more strategic and proactive approach to developing the fintech business in the region. (Finextra)

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Credible lenders face challenges and put in brackets at the end: survey on satisfaction levels in the US

In recent years many small businesses, seeking faster access to capital than many traditional banks can offer, have turned to a growing market: online alternative lenders. (

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