AltFi News - 31.08.18

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
There hasn’t been a single application by a peer-to-peer lender for FCA authorisation rejected outright since the regulator took over responsibility for the sector. However, data for the FCA’s response to a freedom of information request has revealed that more than 80 per cent of applications have been withdrawn. In other news, a new UK-Africa FinTech partnership has been launched, while Seedrs has announced a strategic partnership with U.S. platform Republic, allowing UK-based businesses the opportunity to run joint crowdfunding campaigns across both platforms.
 
 
 
FCA P2P authorisation
No P2P applications to FCA rejected but most are withdrawn, data reveals

 

 

Not a single application by a peer-to-peer lender for FCA authorisation was rejected outright since the regulator took over responsibility for the sector in 2014, but more than 80 per cent of applications were withdrawn. (P2P Finance News)
 
London
UK to support economic growth in Africa by offering City of London expertise
Two African companies prepare to list on the London Stock Exchange and a new UK-Africa FinTech Partnership is launched. As the UK leaves the European Union, the City of London will play an even greater role in financing the fastest-growing economies across... (GOV.UK)
 
 
 
 
Seedrs and Republic strike transatlantic crowdfunding alliance
Europe’s leading equity crowdfunding platform Seedrs has announced a strategic partnership with U.S. platform Republic. The collaboration will offer UK-based businesses the opportunity to run joint crowdfunding campaigns on Republic and Seedrs simultaneously, allowing startups to capitalise on large customer bases in the United States. (Finextra)
 
 
 
What we’ve seen in Search
Searches for savings opportunities have shown an unusual seasonal spike and contrasts with news that the amount of money that British people are saving has fallen by £7bn in the last year.
Savings (Generic) Search Trends
 
 
 
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Wonga collapses into administration
Payday lender Wonga has announced its intention to go into administration after losing its battle to stay afloat. The company said in a statement that it had assessed all options and had decided that administration was the appropriate route. (BBC)
 
 
 
 
IGF posts 76% SME lending surge
Independent Growth Finance (IGF) has reported a 76% increase in funds advanced to UK SMEs in the year to June 2018. The commercial finance provider offers flexible funding solutions, including asset-based lending, to UK SMEs and is backed by private equity firm Spring Ventures, which recently increased its commitment in the company. (Bridging & Commercial)
 
 
 
Stat of the Week
There are currently 65 FCA-authorised P2P lenders and two P2P lenders with interim permission
 
 
 
 
FinTech platform Salary Finance raises $20m Series B
Salary Finance, a FinTech financial wellbeing platform for employees, has raised a $20m Series B investment led by founding investor Blenheim Chalcot and multinational financial services company Legal & General. The money will be used to launch and scale the company in the US as well as to continue to support its growth in the UK. (UKTN)
 
 
 
Tweet of the Week
FinTech Bank collaboration tweet
 
 
 
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 piece of EU data law that focuses on the privacy of individuals as it relates to electronic communications. But, is it new? In fact...
Four ways social media helps SEO
Despite being discussed numerous times there still seems to be confusion over social media’s connection with search rankings and SEO. In 2010 Matt Cutts, the former head of Google’s webspam team said that Google did use links from Facebook and Twitter as ranking signals. But, just four years later he changed his mind, claiming these social media pages were treated like any other web page for search, but not as a ranking factor. It's been a while since then, and there's no...
 
 
 
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