The latest news from the world of Alternative Finance and FinTech world
In the news this week
Tech giants such as Amazon and Apple pose a greater threat to banks than from FinTech start-ups, according to the latest report from the World Economic Forum. Elsewhere, the Crowdfunding and Marketplace Index revealed the Alternative Finance sector to be in robust health, despite a slight downturn in July. The UK’s impending departure from the European Union has seen France and Sweden capture a larger share of the number of FinTech deals within the EU.
Tech giants pose bigger threat to banks than FinTechs .
Banks and insurers have more reason to be concerned about competition from large technology firms such as Amazon and Apple than from FinTech start-ups, a new report suggests.(GTR)
Alternative Finance market in robust health, despite slight summer downturn
The world's first global Crowdfunding and Marketplace Finance Index (CAMFI) shows that the industry exhibited a slight downturn in July, dropping from 94.11 in June to 90.32 in July. (Opalesque).
France and Sweden's FinTech ambitions get Brexit boost
The UK's divorce from the EU has led to France and Sweden gaining a larger share of the number of FinTech deals done within the Union, according to the research firm CBInsights. (Finextra)
Challenger bank Fidor reaches 200,000 customers
Digital challenger bank Fidor has passed the 200,000 customer mark, but its CEO warns that the “happy days of FinTech are over” and new players will need to prove their worth. (Computer Weekly)
Reward Finance funds 20 deals in 10 days
Reward Finance Group has announced a new record after advancing £8m of loans across 20 deals in just 10 working days, beating the previous number of deals set over a whole month. (Bridging & Commercial)
Paybase gets £700k grant from Innovate UK
London-based FinTech startup Paybase has received a grant of almost £700,000 from Innovate UK to democratise eMoney infrastructure for SMEs and start-ups. (Finextra)
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