The latest news from the world of Alternative Finance and FinTech
In the news this week
Following a review of its commercial finance proposition, RateSetter announced this week that it has stopped accepting new unsecured business loan applications. They’ll now concentrate solely on property-backed and asset-backed lending. In other news Zopa announced it’s re-opened its platform to new investors, and the head of the All Party Parliamentary Group on FinTech says the UK must continue its "light touch" approach to regulation to ensure continued growth in the sector.
RateSetter stops accepting new unsecured business loan applications
RateSetter has announced that, as of 22nd January, it has stopped accepting new unsecured business loan applications. Following a review of its commercial finance proposition, the P2P lending platform will now focus solely on property-backed and asset-backed lending. (Bridging & Commercial)
Zopa re-opens for new investors .
Zopa, the pioneering financial services company, has announced it has re-opened its platform to new customers. New customers will be able to invest in any of Zopa’s four investment products - Core, ISA Core, Plus, and ISA Plus - and will join more than 60,000 investors in earning attractive returns through Zopa. (Finextra)
MP thinks the UK needs to continue its 'light touch' approach to FinTech to encourage growth
The head of the All Party Parliamentary Group on FinTech says the UK must continue its "light touch" approach to regulation to ensure continued growth in the sector. Conservative MP Adam Afriyie told Business Insider: "We have to continue to maintain that light touch, but stable, regulatory environment to ensure that we stay right at the forefront." (Business Insider)
FinTech firm to be first London float of the year
FinTech will be the first sector to produce an IPO this year, as IntegraFin announces plans to float on the London stock exchange. The firm supports independent financial advisers. Last year, it made a pre-tax profit of £37m. The group was launched in Shoreditch in 1999 and provides trading services to more than 5,000 advisers. (City A.M.)
SME bosses aware of P2P lending but cautious about using it
Almost half of finance directors in small-and-medium-sized enterprises (SMEs) have admitted feeling uncomfortable about using peer-to-peer lending to help fund their firm. (Peer-to-Peer Finance News)
The UK is still leading the way in crowdfunding and P2P lending, data shows
The UK has helped to prompt a boom in European crowdfunding and peer-to-peer (P2P) lending, according to new research from the University of Cambridge's Judge Business School. While the UK remained the largest alternative finance market in Europe by far, at €5.6bn (£4.9bn), the rest of Europe began to play catch-up as it grew its own market by 101 per cent, the data from the university's Centre for Alternative Finance showed. (City A.M.)
The Marketing Eye says
Is this the final nail in the coffin for organic reach on Facebook?
Last week Mark Zuckerberg announced major changes to the way your newsfeed will look. In the coming weeks, Facebook’s main newsfeed will start showing fewer news articles and less marketing content. Instead, users will start to see more...
Why Outlook’s Focused Inbox is great news for email marketers
Microsoft recently released an update to Outlook, called Focused Inbox, with the aim of helping users focus on their most important emails. If you’ve updated your Outlook, you’ll see two new tabs at the top of your inbox called Focused and Other.
Analysis: FinTech vs Top 500 UK Websites
How the FinTech/Altfi/Finance world stacks up against the best sites in the UK!