AltFi News - 12.10.18

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
Western Union has announced that it is going to battle the likes of TransferWise with the launch of a digital bank account transfer service in the UK. Consumers will now be able to send up to £50,000 from the Western Union app or website directly into other bank accounts around the world, with no additional fees. Elsewhere, Starling Bank has partnered with start-up mobile insurance company so-sure, while the Chancellor of the Exchequer Philip Hammond is to position Britain as the “natural global home” for FinTech after Brexit during the IMF Annual Meeting in Bali.
 
 
 
Western Union
Western Union launches Transferwise rival service in UK

 

 

Western Union is gearing up to face innovation head-on as it launches a digital bank account transfer service in the UK, competing with major fintech startups such as Transferwise for command of the market. (City A.M.)
 
so-sure starling bank
So-sure to offer mobile phone insurance through the Starling Marketplace
Starling Bank has welcomed so-sure, the pioneering start-up mobile insurance company, to its in-app Marketplace. The partnership will mean that Starling customers will now be able apply for mobile phone insurance within minutes, directly from their Starling app. (Finextra)
 
 
 
 
Britain can become the natural global home for fintech
The Chancellor of the Exchequer, Philip Hammond, has revealed that he will position Britain as the “natural global home” of new and innovative financial services after Brexit at the IMF Annual Meeting in Bali (10 – 13 October). (LeapRate.com)
 
 
 
What we’ve seen in Search
Strong search interest remains in branded business banking products. Is this stimulated by new product launches from the new banks, or an increased appetite to switch more generally?
business banking brand search terms
 
 
 
Are you using search trends to inform your strategy?
Search trend data can provide your business with the ability to create a well-defined strategy. Contact us today to find out how we can help.
 
 
 
 
Fintech M&A deals swell to $40bn in first half of 2018
The fintech sector carried over 140 M&A transactions in the first half of 2018, at a total value of nearly $40bn (£30.48bn) – an increase of more than 26 per cent on the same period last year. (City A.M.)
 
 
 
 
Peer-to-peer lender Zopa narrows losses despite revenue growth slowdown
Peer-to-peer lending platform Zopa narrowed its losses while investing heavily into its impending digital banking effort last year, as it chases the coattails of freshly-listed rival Funding Circle. (City A.M.)
 
 
 
Stat of the Week
36.4 per cent of lenders saw demand for unsecured credit increase in the three months to August
 
 
 
 
Lender ThinCats targets Scots SMEs with £1bn pot
A UK peer-to-peer lender focused on small and medium-sized enterprises (SMEs) is closing in on a near-£1 billion pool of capital to deploy with growth plans in place for Scotland. (The Scotsman)
 
 
 
 
Goji hits £100m in assets and partners with SimplyBiz
Direct lending investment manager Goji has doubled the assets on its platform in six months to pass the £100m milestone. The firm also announced that it has partnered with SimplyBiz, the largest adviser-support network in the UK. (P2P Finance News)
 
 
 
Tweet of the Week
fintech tweet of the week
 
 
 
The Marketing Eye says
 
 
Why should I monitor my market?
There are all sorts of theoretical reasons why you should keep a firm handle on your competitors and your market, but even if you’ve no intention of ever reading a marketing text book, monitoring your competitors and other developments in your industry provides a wealth of information that you can use in really practical ways...
What is the best way to spend my marketing budget?
This is a question that we get asked a lot and while it's understandable that people are looking for a single, unambiguous answer, the reality is it's influenced by many factors ranging from the nature of the product or service to where the business is in its life-cycle...