The latest news from the world of Alternative Finance and FinTech
In the news this week
FinTech is the most popular sector among high-net worth investors. That’s according to new analysis by direct private investment platform Capitama, which has revealed nearly 70 per cent of high-net worth and professional investors said they were interested in putting money into FinTech opportunities. Elsewhere, Wales and Northern Ireland are getting their own FinTech envoys as part of a government effort to ensure that the UK maintains its position as Europe’s top FinTech dog, while RateSetter has topped £100m in investor returns without any individual investor losing a penny.
Fintech is now the most popular sector among high-net-worth investors
Financial technology has now become the most popular sector among high-net-worth investors, according to an analysis by the direct private investment platform Capitama. Nearly 70 per cent of high-net-worth and professional investors said they were interested in putting money into fintech opportunities, while... (City A.M.)
Government appoints Wales and Northern Ireland fintech envoys
Wales and Northern Ireland are getting their own financial technology envoys as part of a government effort to ensure that the UK maintains its position, post-Brexit, as Europe's top fintech dog. The new fintech envoy for Wales will be Richard Theo, co-founder and CEO of Wealthify, while in Northern Ireland his... (Finextra)
Cryptocurrency investors have been warned by experts that they may face an unexpected tax bill if they sell out of the market at a profit. However, a HMRC representative has told Peer2Peer Finance News that the tax office will deal with cryptocurrency related tax bills “on a case-by-case basis”. (P2P Finance News)
Searches for debt management spiked recently, a 85% increase against the corresponding week last year. Intriguingly, searches on mobile, which has been well over half of all searches throughout 2018, plummeted.
RateSetter milestone: £100 million in investor returns
UK Peer-to-peer lending platform RateSetter has topped the milestone of returning £100 million in pre-tax interest payments to its investors. RateSetter reports accomplishing this without any individual investor losing a penny. (Crowdfund Insider)
Spanish banking group Santander said today it is building a standalone digital bank in the UK in a move aimed at boosting its online presence. This comes amid intense competition in the market with the rise of digital investment advice provided by robo-advisers and fintech platforms such as Monzo and Tandem Money. (City A.M.)
Almost 70 per cent of HNW and professional investors said they were interested in putting money into fintech opportunities, while 67 per cent said they were keen to see software and technology deals.
New £500m fund launched by British Business Bank
British Business Investments, the commercial arm of the British Business Bank, has announced a new £500m managed funds programme designed to increase access to longer-term venture and growth capital for ambitious and innovative, high potential companies in the UK. (TheBusinessDesk.com)
In strategy discussions with FinTech and InsurTech clients, the debate about direct acquisition versus working through intermediaries always comes up. And for understandable reasons. Building a business one customer at a time is hard and requires a regular, and often significant...
Following Neil's recent blog about using Legitimate Interests as a lawful basis for data processing in a post GDPR world, I thought it might be helpful to create a quick quiz to help ascertain whether you can use 'legitimate interests' within your marketing activity after...