The latest news from the world of Alternative Finance and FinTech
In the news this week
Buy-to-let peer-to-peer lender Landbay announced a £1 billion funding agreement with a leading financial institution this week. The funding will be used to finance mortgages on its platform as it aims to significantly grow its buy-to-let lending over the next two years. Elsewhere, Laybuy, a London-based payments firm, has secured a deal with Alexa Chung’s eponymous fashion brand, ALEXACHUNG, to offer a flexible payment plan to the brand’s customers. And, while it’s maybe stating the inevitable, we now have a timescale - mobile banking is set to overtake High Street banking within the next two years.
Landbay announces £1bn funding to support buy-to-let lending
Buy-to-let lender fintech Landbay has today announced a £1 billion funding agreement with a leading financial institution to finance mortgages on its platform. (UKTN)
Over two-thirds of British adults used online banking and 48% used mobile banking in 2018
Mobile banking to overtake high street branch visits in two years
Mobile banking is set to be more popular than visiting a high street bank branch within two years, according to new forecasts, highlighting how technology is transforming the way Brits bank. (The Guardian)
"Big banks are trying to 'put fintech lenders in a box'."
Zopa chief executive Jaidev Janardana
AXA builds up stake in VPC Specialty Lending
AXA Investment Managers is the latest asset manager to build up a stake in the £292m VPC Specialty Lending Trust. The investment of AXA which runs a number of multi-asset funds bought a 5.2 per cent stake in the trust, which invests in loans originated by balance sheet lenders in June. (AltFi)
Always up for a challenge, Neil Edwards, The Marketing Eye's founder and CEO has decided to take part in The Prudential RideLondon - Surrey 100. He's collecting donations for Friends of Sussex Hospices, a local charity run entirely by volunteers. They raise funds to support the running costs of the twelve hospice care providers that serve the people of Sussex.
It's going to be a tough ride, the longest he's tackled to date, but he's going to give it a good go.
Click the button below if you would like to donate, every donation will help make a difference!