The latest news from the world of Alternative Finance and FinTech
In the news this week
The big story this week was the news on Monday that peer-to-peer lender Funding Circle plans to list its shares on the London Stock Exchange, with Danish billionaire Anders Povlsen pledging to buy at last 10 percent of the company. Elsewhere, it was revealed that since its launch in 2015, the Bank Referral Scheme has led to around £15m in new advances. Views differ on the extent to which this can be hailed a success. Tech Nation has announced the 20 early-stage FinTech companies joining its first FinTech programme, including finance aggregator Funding Options.
Peer-to-peer lender Funding Circle to list on London exchange
Funding Circle, a British peer-to-peer lending marketplace, on Monday said it will list its shares on the London Stock Exchange’s main market, with Danish billionaire Anders Povlsen pledging to buy at last 10 percent of the company. (Reuters)
Small businesses rejected by high street lenders have been able to source more than £15m through the government-mandated Bank Referral Scheme since the scheme was launched in November 2015. (FT Adviser)
P2P lenders record £300m intake in second year of the IFISA
Almost £300m was invested across Innovative Finance ISAs (IFISA) in the previous tax year, HMRC data reveals. The latest ISA statistics from the taxman shows £290m of subscriptions in IFISA for the 2017/2018 tax year across 31,000 accounts. (P2P Finance News)
Tech Nation names 20 UK FinTech companies to watch
Tech Nation has announced the 20 early-stage fintech companies that will be joining its first fintech programme this autumn. The cohort includes promising innovative start-ups, reflecting major trends in the thriving UK fintech sector. The companies were selected from across the financial services sector, from consumer solutions to B2B ventures. (BQ)
HSBC launches initiative to recognise women in fintech
HSBC Commercial Banking is taking aim at the male-dominated world of fintech, launching a programme designed to celebrate and encourage gender diversity. According to recent data, women make up little more than a third of the fintech workforce, just 19% of the c-suite and 16% of founders. (Finextra)
The increase in IFISA accounts comes as the number of cash ISA openings fell by 8.2 per cent to 7.7m, with £39.8bn subscribed.
RateSetter ISA sees £130m inflows in eight months
Peer-to-peer lender RateSetter has seen inflows of more than £130m into its Innovative Finance ISA in just eight months. The firm, one of the three largest P2P lending platforms in the UK, launched its IFISA to existing customers in February and new customers in March. (AltFi)
GDPR vs. ePrivacy Regulation: what’s the difference?
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...