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Peer2Peer Finance News | September 25, 2017

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Posts By Suzie Neuwirth

Lenders underestimating consumer credit risk, Bank warns

September 25, 2017 |

LENDERS are underestimating the potential losses that they could incur from defaulting consumer debt in the event of a downturn, the Bank of England has warned.

The Bank’s Financial Policy Committee (FPC) said on Monday that the rapid growth of … Read More

GLI Finance’s losses widen

September 25, 2017 |

GLI FINANCE’S losses almost doubled in the first half of 2017, hit by £12.6m of write downs as it continues its planned restructuring of the business.

The Aim-listed firm, which owns peer-to-peer lender Funding Knight, reported a pre-tax loss of … Read More

Fintech “critically important” for future of UK financial services

September 25, 2017 |

MAINTAINING the UK’s position as a leading fintech and innovation hub is “critically important”, according to a survey of City firms.

The CBI/PWC financial services survey, released on Monday, questioned 94 companies, including banks, finance houses, securities traders, fund managers … Read More

P2P lenders prepare investors for sort code changes under bank reforms

September 22, 2017 |

PEER-TO-PEER lenders are starting to inform investors about new sort codes on their client money accounts as a result of major banking reforms.

The Banking Reform Act mandates the UK’s banks to separate their retail banking services from their riskier … Read More

JustUs plans October IFISA launch after gaining HMRC approval

September 21, 2017 |

JUSTUS has been approved as an ISA manager by HMRC and said it is “just weeks away” from launching its Innovative Finance ISA.

The peer-to-peer lender, which is backed by advertising veteran Sir John Hegarty, gained full authorisation from the … Read More

Lending Works to raise five-year lender rate to 5.5pc

September 21, 2017 |

LENDING Works is hiking its five-year lender rate to a 13-month high of 5.5 per cent on Monday, due to rapid growth in origination volumes.

Its current five-year rate is 5.2 per cent.

The peer-to-peer consumer lender said that it … Read More

LendingCrowd tops 200 cumulative loan deals after record month

September 20, 2017 |

LENDINGCROWD announced that it has completed more than 200 loan deals since launch, following a record month for the platform.

The Edinburgh-based peer-to-peer lender said on Wednesday that it saw £2.5m of funds flow into the platform in August and … Read More

PeerPay partners with CaFE to tackle SME cashflow issues

September 20, 2017 |

PEER-TO-PEER invoice finance platform PeerPay has partnered with cashflow monitoring application CaFE to help small- and medium-sized enterprises (SMEs) manage their finances.

The FloFunder service from PeerPay enables small businesses to sell their invoices to larger businesses or high-net-worth individuals. … Read More

Fintech pivotal to London’s future prosperity

September 20, 2017 |

FINTECH is one of the most important sectors for London’s economic growth over the next five years, according to firms in the capital.

The CBI/CBRE London Business Survey found that 47 per cent of 271 respondents cited the fintech sector … Read More

BrickVest partners with German property firm on employee participation fund

September 19, 2017 |

BRICKVEST, the peer-to-peer real estate firm, has partnered with German commercial property specialists BEOS to offer a new investment fund to BEOS employees.

The London-based company said on Tuesday that the employee participation fund (EPF) will enable BEOS employees to … Read More