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.
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)
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)
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)
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