AltFi News - 14.09.18

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
The Government has now come forward with legislation that will prevent large businesses from stopping suppliers financing their invoices. This will be welcome news for some, and a small step towards addressing the pervasive late payment culture in the UK. Elsewhere, the EU’s shadow banking sector unexpectedly shrunk last year after yielding market share to traditional lenders and more than a decade of growth.
 
 
 
business
Government announces new measures to boost funding for small businesses

 

 

Small Business Minister Kelly Tolhurst has put forward new laws to arm small businesses against unfair contracts that stop them raising money from unpaid invoices. (GOV.UK)
 
shadow banking
EU 'shadow banking' sector unexpectedly shrank last year
Europe’s ‘shadow banking’ sector shrunk last year, unexpectedly yielding market share to traditional lenders after more than a decade of often rapid growth, a report by the European Union’s risk watchdog showed on Monday. (Reuters)
 
 
 
 
UK and Israel forge closer links to foster fintech and cyber security innovation
TheCityUK and City TLV of Israel have signed a landmark Memorandum of Understanding (MoU) to bolster FinTech and cyber security cooperation between two of the world’s leading centres for digital innovation. (Finextra)
 
 
 
What we’ve seen in Search
A bank no longer seems to be for life with plenty of people investigating switching. Search volumes are 20% up on last year.
Switch Current Accounts 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.
 
 
 
 
London loses out to New York in financial centre rankings
London has been replaced by New York as the world’s top financial centre in a think tank’s latest rankings, due to uncertainty over the Brexit outcome. (P2P Finance News)
 
 
 
 
Crowdcube acquires business software provider
Equity crowdfunding platform Crowdcube is to provide 600 of its supported businesses with access to new reporting software after it acquired a software provider. The acquisition of Supdate means Crowdcube-funded businesses will be able to use the platform alongside other post-funding benefits, such as access to Amazon’s Launchpad Programme, to allow them to fully benefit from their crowdfunded raise. (Insider Media)
 
 
 
Stat of the Week
New mortgage lending reached its highest level since 2008 in the second quarter, according to statistics from the Bank of England.
 
 
 
 
More access to invoice finance is only part of the answer
Under new laws scheduled to take effect from the start of 2019, Britain’s 5.7m SMEs will be able to ignore unfair contracts that prevent them from raising finance against monies owed to them by large customers. (Global Banking & Finance Review)
 
 
 
 
Bank of England's Carney to stay until January 2020 to smooth Brexit
Bank of England Governor Mark Carney will stay at the central bank an extra seven months until the end of January 2020 to help smooth Britain’s departure from the European Union next year, finance minister Philip Hammond told parliament on Tuesday. (Reuters)
 
 
 
Tweet of the Week
fintech tweet of the week
 
 
 
The Marketing Eye says
 
 
GDPR vs. ePrivacy Regulation: what’s the difference?
With the dust not long settled on the deluge of privacy policy updates and consent emails following the introduction of the General Data Protection Regulation (GDPR) into EU law, there is a new kid on the block: the ePrivacy Regulation (ePR). The ePrivacy Regulation is the next piece of EU data law that focuses on the privacy of individuals as it relates to electronic...
How you can use employee advocacy on social media to boost your brand
Whether you are just starting out or you're a fully-fledged industry expert, everyone needs people who promote their brand, their culture and their products or services. For most businesses their first port of call is external sources of praise – happy customers – bypassing valuable internal assets like employees.