The integration of mainstream finance with the alternative finance sector continues to gather pace. Our friends at AltFi report on a relaunched premium service from Monzo with what the challenger bank claims is a host of new features. The move comes after several delays and difficulties. The flagship feature of Monzo Plus, priced at £5/month with a […]
One of the ways in which the alternative-finance sector is converging with the mainstream is the pursuit of banking licences by new, challenger banks. The Times carries a tale of a new would-be bank that has its sights set on a wealthy client base. A former chief executive of the Co-operative Bank, has become chairman […]
Regular readers of our News site will be aware that a regular feature of our coverage of the alternative finance (and specifically the FinTech) sector is the attempts at inwards investment by mainstream finance. The transfer of capital as been easily effected – but making a success of the business has proved altogether more difficult. […]
A group of some of Europe’s largest FinTechs has joined forces to create and launch a new non-profit organisation, the European Fintech Association (EFA), according to our friends at AltFi. We have a couple of observations on this development. First, it will be interesting to see how the new group fits in with the ground […]
The government-backed emergency finance juggernaut rolls on. The intentions are good, but is the money reaching its target? Time will tell. Our friends at AltFi report the latest: The UK’s financial institutions have lent out over £34.9bn to SMEs under the government-backed coronavirus loan schemes. The rate of lending has slowed for the second week […]
Money&Co. chief Nicola Horlick has warned of a tough year for SMEs and the direct lending sector, as the Bank of England predicts the deepest recession on record due to the pandemic. She spoke recently on the topic to the trade press. Our friends at P2P Finance News carry the story: City superwoman Horlick told Peer2Peer […]
It’s too early to tell definitively, but the strong indications are that the digital economy is robust and leading the way forward for business in the UK. Money&Co., for example, has been operating smoothly under lockdown – and, as we see today in the following report from our friends at AltFi, deals are being done. […]
We revert to a familiar theme: mainstream investment into the alternative finance sector. Our friends at AltFi reports on a rose amongst thorns. Listed fintech VC fund Augmentum Fintech is joining two key FTSE Russell indices on 19 June as it is now counted among the 620 largest-listed companies on the London Stock Exchange. Augmentum will be added to […]
The Bounce Back government loan scheme continues to expand. Metro Bank is the latest to try to get money to small businesses. AltFi takes up the story. The high street bank will be able to offer SMEs loans from £2,000 up to £50,000 following its accreditation by the British Business Bank today. Metro Bank joins the ever-growing list of 17 […]
The Coronavirus Business Interruption Loan Scheme (CBILS) has had a fair to middling start, at best. P2P Finance News reports a tale of a digital bank and a lending platform hitching up together to attempt to drive it forward. Our friends at P2P Finance News carry the tale : Funding Circle has announced that digital […]