Non-bank competitors

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FCA reveals P2P lending platform application backlog

/Non-bank competitors

FCA reveals P2P lending platform application backlog

The UK's peer-to-peer lending goldrush is causing a headache for the Financial Conduct Authority, which has put out a statement revealing it has a backlog of 86 firms awaiting authorisation to operate.

/Non-bank competitors

Lending Club joins Millennium Alternative Investment Network

Millennium Trust Company, a leading provider of technology-enabled asset custody solutions for institutions, advisors, and individuals, and Lending Club (LC), the world's largest online lending marketplace, today announced that Lending Club is the latest investment platform to join the Millennium Alternative Investment Network (MAIN).

Putin adviser calls bitcoin a virus

/Non-bank competitors

Putin adviser calls bitcoin a virus

Russian authorities' opposition to virtual currencies has been underlined after a presidential adviser referred to bitcoin as an internet joke and a virus and urged that it be outlawed.

Fintech boom will lead to 30% bank staff cuts - Citi

/Non-bank competitors

Fintech boom will lead to 30% bank staff cuts - Citi

US bank Citi has forecast that the continued growth of fintech startups will mean 30% of bank staff will lose their jobs over the next ten years.

Ireland's fintech hopes held back by lack of investment

/Non-bank competitors

Ireland's fintech hopes held back by lack of investment

Ireland's ambition to be known as a world-leading hub for fintech startups is in danger of petering out due to a lack of accelerators, according to the head of an industry group looking to promote startups.

US regulator considers new framework for fintechs

/Non-bank competitors

US regulator considers new framework for fintechs

A key US banking regulator is set to develop a framework for governing new fintech startups, according to the Wall Street Journal (WSJ).

Chinese e-commerce outfit JD.com raises $1.1 billion to grow financial arm

/Non-bank competitors

Chinese e-commerce outfit JD.com raises $1.1 billion to grow financial arm

Chinese e-commerce company JD.com has raised RMB6.56 billion ($1.1 billion) to grow its financial services arm, JD Finance.

Shop Direct to spend £50 million on personalised financial services

/Non-bank competitors

Shop Direct to spend £50 million on personalised financial services

UK online retailer Shop Direct is to spend £50 million with IBM to develop personalised financial services for its four million customers.

Zopa targets £500m valuation

/Non-bank competitors

Zopa targets £500m valuation

Peer-to-peer (P2P) lender Zopa is reportedly planning another round of fund raising that could see its valuation exceed £500 million, making it one of the UK's highest valued fintech start-up.

MasterCard makes first bitcoin investment

/Non-bank competitors

MasterCard makes first bitcoin investment

MasterCard has finally dipped a toe in the crypto-currency pool, joining a host of other big name investors backing new bitcoin incubator Digital Currency Group (DCG).

Deutsche Bank to replace IT systems - FT

/Non-bank competitors

Deutsche Bank to replace IT systems - FT

New Deutsche Bank boss John Cryan is set to promise investors that replacing the bank's troublesome technology systems will be a top priority, according to the Financial Times.

Bank boards have little or no technology experience says study

/Non-bank competitors

Bank boards have little or no technology experience says study

A survey by Accenture has found that almost half of the world's biggest banks have no directors with any technology experience on their board.

/Non-bank competitors

Oakam launches its first smartphone app

Oakam, a UK-based lender providing financial services to people who find it difficult to borrow from banks, today announced its new smartphone app is available to download from the App Store.

Survey shows commercial lenders under threat from non-bank players

/Non-bank competitors

Survey shows commercial lenders under threat from non-bank players

Digitally enabled insurgents are placing bank-based lenders under increasing pressure and pose "a significant threat to every part of the commercial lending business" says a survey conducted by Misys.

P2P lenders target UK market ahead of new regulation

/Non-bank competitors

P2P lenders target UK market ahead of new regulation

The UK could be swamped by P2P lenders after it emerged that more than 100 companies have sought regulatory authorisation while almost 200 are already operating via interim permission from the Financial Conduct Authority (FCA).

Banks lag manufacturers and telcos in race to build innovation centres

/Non-bank competitors

Banks lag manufacturers and telcos in race to build innovation centres

The financial services sector is trailing rival industries in the race to set up innovation centres in technology hubs such as Silicon Valley, according to a report issued by consultants CapGemini and Altimeter Group.

/Non-bank competitors

CM Telecom moves into mobile payments

Mobile service provider CM Telecom moves into mobile payments and has founded CM Payments, a new Payment Service Provider (PSP) that will operate internationally.

TransferWise breaks £500 million per month milestone

/Non-bank competitors

TransferWise breaks £500 million per month milestone

London-based money transfer startup TransferWise says it is now processing £500 million a month on its platform, saving customers some £22 million in fees compared to equivalent bank rates.

Renault enters UK banking market

/Non-bank competitors

Renault enters UK banking market

The financing arm of French car manufacturer Renault is to enter the UK banking market with the launch of an easy-access savings account.

Women in FinTech: Deanna Oppenheimer, founder of CameoWorks

/Non-bank competitors

Women in FinTech: Deanna Oppenheimer, founder of CameoWorks

In our continuing series, in association with the Breaking Banks radio show, looking at accomplished and interesting women working and changing the FinTech sector, Liz Lumley sits down with Deanna Oppenheimer – Founder of CameoWorks and former head of Barclays Retail and Business Banking.

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