The latest news from the world of Alternative Finance and FinTech world
In the news this week
Industry trade body Innovate Finance revealed that more than a billion dollars was invested in British FinTech firms in the first half of this year, over a third more than the same period in 2016. Elsewhere, a third of FinTech startups expect to IPO within five years, despite concerns over talent and customer take up of services. Also this week, investment banking giant Goldman Sachs is considering launching a consumer lending arm in the UK, while some of Britain’s leading FinTech companies have joined the Fintech Delivery Panel, a new industry group that aims to "produce an ambitious post-Brexit vision for the UK's FinTech sector."
UK FinTech investment rises in H1 .
More than a billion dollars was invested in British Fintech companies in the first half of this year, over a third more than the same period in 2016, according to trade body Innovate Finance.(Finextra)
A third of FinTech startups expect to IPO within five years.
The UK's ambitious financial technology startups are eyeing success on the public markets with a third of them planning an IPO in the next five years, new figures reveal. (City A.M.).
Goldman Sachs to take on P2P lenders in UK expansion
Investment banking giant Goldman Sachs is considering launching a consumer lending arm in the UK, competing with the likes of Zopa and RateSetter. (P2P Finance News)
Britain's leading FinTechs are banding together to work out a Brexit strategy
Entrepreneurs from TransferWise, Funding Circle, Onfido, Monzo, FreeAgent, MarketInvoice, and Starling Bank have all joined the Fintech Delivery Panel (FDP), a new industry group that aims to "produce an ambitious post-Brexit vision for the UK's FinTech sector." (Business Insider)
Chancellor sets outs commitment to UK FinTech after Brexit
The Chancellor has underlined his commitment to ensuring the UK remains a global fintech hub and leading financial services sector after Brexit, but said he would not accept “protectionist” agendas during negotiations. (P2P Finance News)
Half of UK FinTech firms confident in growth but have doubts over skills
UK FinTech companies are confident that revenues will double over the next year, but have concerns over talent and customer take up of services. (Computer Weekly)
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