AltFi News - 26.10.18

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
A new survey has revealed that 83% of Brits are 'unsure' of FinTech. Commissioned by TopLine Comms, the survey of 2,000 UK consumers showed that despite a thriving UK FinTech sector, the majority of people in Britain are still wary of new finance and feel more comfortable using the services of traditional banks. In other news, Lendy investors are feeling uneasy following a legal dispute and high level of arrears on the platform. Investors have contacted P2P Finance News with concerns around the legal dispute, and are looking into whether or not they can obtain insurance to protect themselves.
 
 
 
brits
Eight out of ten Brits wary of fintech

 

 

More than eight out of ten people in Britain (83 percent) are ‘unsure’ of fintech, according to a survey of 2,000 UK consumers commissioned by TopLine Comms. Despite the fintech sector in the UK thriving, attracting more fintech investment than China and the US in H1 2018, the research shows UK consumers are still wary of new finance companies, and feel more comfortable using the services of traditional banks. (Finextra)
 
Lendy
Investors and platforms uneasy over Lendy loanbook
Lendy investors have been thrown into disarray amid a legal dispute with a borrower and high levels of arrears on the platform. One of the peer-to-peer property lender’s borrowers is threatening to sue both the platform and its investors for £10m, claiming Lendy unfairly put £8.2m-worth of loans into default, according to email correspondence seen... (P2P Finance News)
 
 
 
 
UK’s late payment culture shows signs of improvement
The time it takes to pay suppliers across the UK has improved by 14 per cent, with payments taking on average 42 days in 2018 compared to 49 days in 2016. (London Loves Business)
 
 
 
What we’ve seen in Search
Investment searches have risen rapidly in October. Are we going to see the same spike we got back in February?
Investment search trends
 
 
 
Are you using search trends to inform your strategy?
Search trend data can provide your business with the ability to create a well-defined strategy. Contact us today to find out how we can help.
 
 
 
 
Virgin Money releases Spot Wallet for P2P transfers
Virgin Money SA has announced an upgrade to its popular person-to-person payment app, Spot, to make it more accessible, increase functionality and make it safer and easier to use. (Finextra)
 
 
 
 
Fintech startup Worldremit poaches former Paddy Power chief as its next boss
London money transfer fintech startup Worldremit has today revealed former Paddy Power Betfair chief Breon Corcoran will be its newest chief executive. (City A.M.)
 
 
 
Stat of the Week
61 percent of UK consumers would only feel comfortable depositing up to £500 of their own money in a mobile only bank account
 
 
 
 
Goldman-backed fintech startup Marqeta launches in Europe
Marqeta, a U.S. financial technology startup that helps young companies including digital-only banks issue payment cards, has expanded into Europe, the company said on Sunday. The company will service the region from London, where it has hired at team of five and signed up new clients, it said. (Business Insider UK)
 
 
 
Tweet of the Week
fintech tweet of the week
 
 
 
The Marketing Eye says
 
 
Why should I monitor my market?
There are all sorts of theoretical reasons why you should keep a firm handle on your competitors and your market, but even if you’ve no intention of ever reading a marketing text book, monitoring your competitors and other developments in your industry provides a wealth of information that you can use in really practical ways...
What is the best way to spend my marketing budget?
This is a question that we get asked a lot and while it's understandable that people are looking for a single, unambiguous answer, the reality is it's influenced by many factors ranging from the nature of the product or service to where the business is in its life-cycle...
 
 

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