AltFi News - 30.11.18

The latest news from the world of Alternative Finance and FinTech
In the news this week
A new open banking platform will launch in December that enables credit providers to verify loan applicants’ income more quickly. OpenBankVision will allow lenders to access up to 90 days of a loan applicant’s bank statements free of charge, removing the need to request income references or paper proof of income. Staying on the Open Banking theme, a survey by Finserv has revealed that UK banks expect customers to see the benefits of open banking within the next six months. Elsewhere, Ukraine’s Monobank are preparing to launch its Koto app and card in the UK next year, while FinTech unicorn Revolut has been granted licenses to operate in Japan and Singapore.
open banking
New Open Banking platform for lenders aims to speed up income verification



A new Open Banking platform is launching next month that enables credit providers to verify loan applicants’ income more quickly. OpenBankVision, launched by technology company LendingMetrics, is looking to offer its services to peer-to-peer lenders and other finance providers. (P2P Finance News)
open banking
Fiserv survey finds banks struggling with Open Banking
Fiserv, Inc., a leading global provider of financial services technology solutions, today announced the results of a survey revealing insights into the implementation of open banking initiatives by banks in the U.K., Poland, France and Australia. To date, banks have primarily focused on compliance, with only 42 percent of respondents... (Finextra)
Ukraine’s Monobank to launch Koto app in UK
The brains behind Ukraine’s Monobank are preparing to launch their Koto app and card in the UK next year. On the Koto website it is offering lending services, a card, the option to send money for free, and use the card abroad with no FX fees. It is offering early access via email sign up. (FinTech Futures)
What we’ve seen in Search
Business banking searches are up 9.5% YoY - is this a result of the renewed trust in bankers over the last five years?
business banking search trends
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FinTech 'unicorn' wins Japan and Singapore licences
Fast-growing digital challenger bank Revolut is gearing up to expand outside Europe after being granted licences to operate in Japan and Singapore. The London-based FinTech has confirmed it is in the final stages of testing and will be launching in the first quarter of 2019. (BusinessCloud)
UK seeks remedies in PayPal fintech deal
The UK’s competition watchdog is concerned that PayPal’s takeover of financial technology startup iZettle could raise prices and lower the quality of services in the payment services sector. (GCR)
Stat of the Week
Two in five Britons now say they would trust a banker to be truthful
Monzo confirms record-breaking UK fintech crowdfunding round
Digital bank Monzo has today announced it will be heading back to the crowd for the last chunk of its series E fundraising round, with a target of up to £20m. The raise, first reported exclusively by City A.M. in August, will be the largest fintech crowdfunding round in the UK to date. (City A.M.)
UK watchdog investigating Nasdaq’s $190m bid for Cinnober
The UK’s Competition and Markets Authority (CMA) is looking into Nasdaq’s $190 million all cash offer for Swedish trading tech firm Cinnober. As reported in September, Nasdaq said the proposed acquisition “advances and accelerates Nasdaq’s strategic direction as a technology and analytics provider to the global capital markets and beyond”. (FinTech Futures)
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...
What is the best way to spend my marketing budget?
This is a question that we get asked a lot and while it's understandable that people are looking for a single, unambiguous answer, the reality is it's influenced by many factors ranging from the nature of the product or service to where the business is in its life-cycle...