AltFi News - 14.06.19

The latest news from the world of Alternative Finance and FinTech
In the news this week
One of Fintech’s earliest and quickly most established players, LendInvest, announced this week that it has securitised £259 million of prime UK buy-to-let mortgage loans. The securitisation received a AAA rating (for 83% of the securitisation) from both Moody’s and Fitch, the global credit rating agencies. A strong sign of how businesses can mature in the sector with the right stewardship. At the other end of the maturity spectrum, JPM Chase has announced its app, Finn, is no more. People often talk of it only being a matter of time before the incumbents wake up and restore the old order in Financial Services, but Finn shows that success in Fintech needs more than just deep pockets.
LendInvest completes UK's first fintech securitisation with £259m transaction



LendInvest, the marketplace for property finance, has securitised £259 million of UK prime Buy-to-Let mortgage loans in an oversubscribed RMBS transaction. LendInvest is the UK’s first marketplace platform to securitise its own assets. The securitisation received an AAA rating (for 83% of the securitisation) from... (Finextra)
Finn No More. JPM’s Bank App Finn Shuts Down, Migrates Users to Chase Mobile
Last year, in the month of June, with great fanfare JP Morgan Chase announced the launch of a “fully digital banking experience Finn by Chase.” Today, Finn is dead. At the time of the launch, JPM Chase said the new-shiny iOS App would provide a set of robust Fintech tools to help entice the younger generation that... (Crowdfund Insider)
What we’ve seen in Search
People are eager to switch their current accounts. That's according to the data that shows searches are up 32.5% YoY
switch current account 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.
IMF warns of Big Tech threat to financial stability
The International Monetary Fund has warned that the arrival of Big Tech firms in financial markets could lead to systemic challenges to financial stability and efficiency. The spectre of companies like Amazon, Apple, and Google entering the banking industry, was raised by IMF chief Christine Lagarde in an address to the G20 at a summit in Tokyo. (Finextra)
Luxembourg regulator to probe British post-Brexit fintech firms
The financial regulator in Luxembourg has turned up the heat on UK fintech and payment services firms, launching on-site inspections of companies that have chosen the European country as a post-Brexit base. (City A.M.)
Stat of the Week
The UK is now home to over 70 tech unicorns, having created more than one billion-dollar company every month in the last year
Augmentum Fintech to double in size as it seeks £150m fundraise
London-listed fund Augmentum Fintech is courting a £150m capital raise, which would more than double the size of the company. The fintech-focused firm said in a filing it intends to create up to 150m new shares, valued at a total of £150m, subject to shareholder approval. (City A.M.)
UK tech created 13 'billion dollar' startups in 2018
The UK technology sector produced 13 "unicorn" companies - firms privately valued at more than $1bn (£784 million) - over the past year, taking its overall total to 72. (Sky News)
Quote of the Week
"Our excitement about the UK technology sector is strong. Ambitious entrepreneurs no longer have to leave this island and head to the US to build the company of their dreams."
Suzanne Ashman, partner at London venture capital firm Localglobe
Twitter CEO: Access to FinTech hardest for UK SMEs
The CEO and co-founder of Twitter and Square has suggested the UK’s smallest companies struggle most with access to FinTech. Jack Dorsey has presented a new report from his FinTech firm which suggests UK businesses with fewer than ten employees, or 96 per cent of UK businesses, find it difficult to access the technology, finances and information they need to run and grow. (BusinessCloud)
FinTech Alliance aims to create go-to hub for fintech growth
A new FinTech community platform has been launched, with plans to become “go-to destination for people working in the industry to get access to funding, knowledge, and talent.” (P2P Finance News)
Tweet of the Week
fintech tweet of the week
<table align="center" border="0" cellpad

Take the first step

To find out more about how we can help you grow faster, please get in touch. We'd like to hear from you.  Or try our instant marketing healthcheck, it's free!

Request a call