Alternative finance

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/Alternative finance

Funding Circle share price punished as demand for loans diminishes

Shares in P2P lender Funding Circle have dropped by 25% as the company warns that the uncertain economic outlook has reduced demand for loans.

/Alternative finance

Intesa Sanpaolo ventures into crowdfunding with BacktoWork24 stake

Intesa Sanpaolo has dipped into its EUR100 million Finventures fund to take a stake in Italian equity crowdfunding site BacktoWork24.

/Alternative finance

N26 makes mobile transfers available to UK users

N26, Europe’s largest digital bank, has introduced MoneyBeam for its UK users, allowing them to send money instantly to fellow N26 users.

/Alternative finance

NAB pledges $1.4bn funding for Aussie tech sector

National Australia Bank (NAB) is to commit AUS$2bn ($1.38bn) to support Australia's technology sector.

/Alternative finance

LendingCrowd appoints chief risk and compliance officer

LendingCrowd, Scotland’s only fintech lending platform, has appointed Robbie McKenzie to the newly created post of General Counsel and Chief Risk & Compliance Officer.

/payments

EBAday 2019: A 'Universal' approach to P27 and regional payment areas

Closing EBAday 2019 with a lively debate on what is expected from fully integrated, open-access infrastructures for domestic and cross-border payments, banking executives and technology innovators discuss how regional initiatives fit into the pan-European context, while keeping P27 in mind.

/retail

Trade Ledger launches invoice finance platform

Trade Ledger, the world’s first open banking business lending platform has launched a new turn-key Automated Invoice Finance Platform for banks and alternative finance providers looking to deliver faster and more flexible working capital solutions to their business customers.

/Alternative finance

EBAday 2019: Bleckwen scoops Fintech Zone prize

After two days of live pitches from 15 cutting-edge fintech startups from across Europe and beyond, Bleckwen has been named the 2019 EBAday Fintech Zone best in show winner and will receive promotional and educational services from Finextra and the EBA.

/Alternative finance

Regulators and politicians respond to Facebook's crypto plans

Regulators, politicians and other crypto players have all responded to yesterday's unveiling of Facebook's Libra project and suggested that the social media giant's digital currency plans may face several challenges.

/Alternative finance

UK fintech salaries on the rise - report

Jobs in the UK's fintech sector have grown by 61% in the last year while demand for skilled workers has seen salaries rise by as much as 25% according to a recently published report.

/Alternative finance

Facebook reveals digital wallet plan

Social media platform Facebook has unveiled further details of its much-anticipated digital currency offering, which it hopes will transform financial services.

/retail

LendInvest completes UK's first fintech securitisation with £259m transaction

LendInvest, the marketplace for property finance, has securitised £259 million of UK prime Buy-to-Let mortgage loans in an oversubscribed RMBS transaction.

/Alternative finance

Money 20/20 Europe 2019 Q&A: CCAF’s Michel Rauchs

Following his panel on the ethics and governance of cryptocurrency, Finextra spoke to Michel Rauchs, cryptocurrency & blockchain lead at the Cambridge Centre for Alternative Finance (CCAF), about the use cases for DLT and the maturity of the cryptoasset market, addressing concerns around risk in addition to whether virtual currency could become a sustainable asset class.

/Alternative finance

Line Pay and Visa partner for digital payments

LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app, and Visa (NYSE: V), the global payments leader, today announced a strategic partnership that will see them create new financial services experiences for their collective user bases of millions of consumers and merchants worldwide

/Alternative finance

Report lays out Nordic fintech manifesto

The majority of fintechs in the Nordic and Baltics belive that the region can dominate the fintech landscape in years to come but only if they can secure greater access to investment capital.

/ai

Money 20/20 Europe 2019: The interplay of AI, cloud, blockchain and quantum computing

On the final day of Money 20/20 Europe 2019 in Amsterdam, Jesse McWaters, financial innovation lead at the World Economic Forum starts the day discussing the interplay of AI, cloud, blockchain and quantum computing, and what happens when it all collides.

/retail

Biz2Credit closes $52m Series B financing round

Biz2Credit Inc., the leading online lending platform that helps banks and other financial institutions manage small and medium business (SMB) lending processes and makes it easier and faster for SMBs to access working capital, announced that it has completed a Series B capital financing round of $52 million led by WestBridge Capital.

/regulation

FCA confirms new rules for PP platforms

Following consultation, the Financial Conduct Authority (FCA) is introducing rules designed to prevent harm to investors, without stifling innovation in the peer-to-peer (P2P) sector.

/startups

Fundrr takes on South African SME lending market

There are 2.4 million SMEs in South Africa that employ around 60 – 70% of the working population, but this market experiences a dearth of funding, causing a R86 billion credit gap for small businesses. Each year, the number of SMEs in the country decreases due to their inability to access finance.

/Alternative finance

Banking Circle issues white paper on financial inclusion

Ground-breaking financial utility, Banking Circle, is on a mission to improve access to global financial services for businesses of all sizes.