Tom Blomfield of Monzo was recently interviewed on City A.M.’s Unregulated podcast; Blomfield said that he has been approached by big banks and tech companies and that the firm receives a takeover offer every month. Source
Business Insider caught up with ID Finance co-founder and CEO Boris Batin at LendIt Europe; the company hopes to raise around $100 million through bond issuances over the next year; to date ID Finance has raised $10 million in equity and $70 million in debt; the startup is based Barcelona and lends in Russia, Spain, Kazakhstan, Georgia, Poland, Brazil and Mexico; ID Finance has lent $300 million so far. Source
Oakam has originated more than 420,000 loans and over $275mn to customers with little or bad credit; the UK based lender uses credit bureau data and alternative data including network associations, behavioral data and chat data between potential customers and their agents; the combination of the data sources has allowed them to better asses risk to a client base mostly ignored by traditional financial firms. Source.
LendIt Europe 2017 keynote speaker Christoph Rieche, Iwoca CEO, announced the API with fellow fintech Tide is now live; the API allows third parties to access Iwoca’s credit and underwriting process which can decide on a loan within 10 minutes; Tide will provide Iwoca with data to help speed up credit decisions. Source.
While giving a keynote speech at LendIt Europe 2017 Upgrade CEO Renaud Laplanche laid out his three biggest predictions for the near future; the growth of online lending will accelerate in the next 15 months, a meaningful secondary market will develop and rebundling will give birth to one major consumer product innovation in the next 15 months. Source.
SONECT is a platform that can convert anyone or any shop into a virtual ATM; the startup beat out more than 100 companies and 8 finalist pitches; “Taking part in LendIt this year has given us fantastic exposure to London based VCs in the fintech capital of Europe as well as more insight into the UK market,” SONECT founder and CEO Sandipan Chakrabortty said to Bankless Times. Source.
During a panel discussion at LendIt Europe in London representatives from leading incumbent lenders Lloyds Banking Group (LBG), ING, BBVA, HSBC, and Barclays discussed the challenges faces in the new digital world; topics discussed include cultural transformation, more power in the customers hands and trying to stay on top of the latest tech trends. Source.
Peter Renton, co-founder of LendIt shares his takeaways from LendIt Europe 2017; discusses presentations from many of the presenters on the keynote stage. Source
In an interview with P2P Finance News, Christine Farnish talks about their relationship with the Financial Conduct Authority, the recent departures of LendInvest and RateSetter from the group and updates to membership criteria; Farnish teased that there will be major changes to the way the P2PFA operates coming in November. Source
A new report from Kantar says UK financial institutions could be missing a £130bn ($173) opportunity by not winning over women; they are not targeting women in ads and are missing the potential for a significant boost in savings and investment; the report also shows that 38 percent of women feel in control of their financial future and women retire with a third of the savings compared to men; targeting women can not only help to bring these number up but the study also shows women are more apt to recommend financial services than men. Source.