AltFi News - 21.10.16

The Marketing Eye Newsletter

The latest news from the world of Alternative Finance and FinTech

Lending Works gains full FCA authorisation


Peer-to-peer lending platform Lending Works today announces that it has officially become fully authorised by the Financial Conduct Authority. (Financial Reporter)

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Peer to peer lending grows for yet another quarter

Peer to peer lenders have grown their books by over £2bn since the start of 2016, with cumulative lending now topping £6.5bn. (CITY A.M.)

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Fintech lenders to challenge UK banks' business using securitisation

Fintech or Market Place Lenders (MPLs) will increasingly turn to securitisation, to fund their businesses as they tough it out with UK banks in the sphere of consumer loans, according to Moody's. (International Business Times)

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P2P lender funds £1.5m in one hour

Bridgecrowd has revealed it produced a record day of lending for October thanks to £1.5m being lent in just one hour. (Bridging and Commercial)

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UK Investors are Turning to Alternative Finance in Low Interest Rate World

A report published by IW Capital, that researched 2000 UK consumers and citizens, stated that 30% of respondents are looking towards EIS investments in this historically low-interest rate environment. (Crowdfund Insider)

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LendingCrowd Goes Live with P2P Investor Deal

EDINBURGH, Scotland--(BUSINESS WIRE)--LendingCrowd, one of the UK’s fastest-growing alternative finance lenders to the SME market, has announced a market-leading offer to investors who are thinking about adding P2P to their investment strategy. (Business Wire)

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P2P property investment lender boosted by banks scaling back

Peer-to-peer (P2P) platform Saving Stream has reached a new milestone of £200m in lending to property investors. (CITY A.M.)

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UK SME Lender Goes After Banking License

A small business lender is looking to bring new competition into the U.K.’s banking sector. Reports Tuesday (Oct. 18) said Amicus Finance, an alternative SME lender, has applied for a banking license from the Prudential Regulation Authority and the Financial Conduct Authority. (PYMNTS)

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Savers suffer as banks withdraw more than 100 savings accounts

More than 100 savings accounts have been withdrawn from the market since the Bank of England cut interest rates in August, and the choice available to savers has hit a new low, figures show. (The Guardian)

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