AltFi News - 15.03.19

The latest news from the world of Alternative Finance and FinTech
In the news this week
According to research by peer-to-peer property lender, The House Crowd, 25 per cent of people aged between 18 and 24 do not know what an ISA is. More worryingly for peer-to-peer lenders, 87 per cent have never heard of an IFISA. Speaking on the findings, Frazer Fearnhead, founder of The House Crowd, said: “It seems the government needs to work on increasing general awareness of the ISA product set, especially with the younger generation.” Elsewhere, the FCA has placed peer-to-peer lender, Lendy, under special supervision after becoming concerned about its ability to meet the standards required of regulated firms.
Majority of young adults have never heard of an IFISA



The vast majority of young adults have never heard of an Innovative Finance ISA (IFISA), new research has found. Peer-to-peer property lender The House Crowd surveyed 2,000 people aged between 18 and 24, and found that one quarter of respondents did not know what an ISA is. (P2P Finance News)
UK peer-to-peer lender put on regulator’s watchlist
The UK’s financial regulator has placed a British peer-to-peer lender under special supervision after becoming concerned about its ability to meet the standards required of regulated firms. Lendy, which allows retail investors to fund property development loans, was put on an FCA... (Financial Times (subscription required))
UK pressures tech titans to face competition
The UK government is stepping up its efforts to get the tech giants to face competition in the name of consumer choice and innovation. In the government’s latest statement - Google, Amazon, Facebook, Amazon, Microsoft and Twitter - are under scrutiny. (FinTech Futures)
What we’ve seen in Search
Searches for travel money are up 68.4% compared to this time last year, and up more than 40 per cent WoW.
travel money  search trends
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London third most promising global tech hub
London rose one place since last year to be ranked joint third with Tokyo as an emerging technology hub, with New York in top spot and Beijing in second. The list, part of KPMG’s 2019 Innovation Technology Hubs report, ranked the most promising cities in the world for innovative technology, based on the views of 740 global technology industry leaders. (Economia)
Peer to peer lender Folk2Folk revamps to boost SME lending
Peer to peer lending platform Folk2Folk has relaunched their entire product line. Folk2Folk is a unique online lender as it targets localised loans and has a strategic local presence across the UK. (Crowdfund Insider)
Stat of the Week
More than 8 million UK adults would struggle to cope in a cashless society
HK-UK Fintech firms bridge international banking for start-ups
According to a recent report, a Hong Kong-based FinTech firm has partnered with a UK company, a BaaS platform that connects FinTech companies and banks together, to make international current accounts available to small businesses. (Open Gov Asia)
Tweet of the Week
fintech tweet of the week
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