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Peer2Peer Finance News | December 19, 2018

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Open Banking

Competitive advantage

December 14, 2018 |

Peer-to-peer lenders’ innovative use of technology is what first set them apart from the banks. But as the industry matures, what are they doing to maintain their competitive edge? Danielle Levy investigates…

MORE THAN 13 YEARS have passed since the … Read More

RateSetter dips toe into Open Banking

December 13, 2018 |

RATESETTER is trialling several partners to help it tap into the opportunities presented by Open Banking.

Michael Hoare (pictured), head of credit at the ‘big three’ peer-to-peer lender, said that the platform is working with “a couple of different” parties, … Read More

Funding Circle among winners of Open Banking competition

December 6, 2018 |

FUNDING Circle has been named as one of the winners of the Open Up Challenge, a prize fund for fintechs that have used Open Banking to tackle problems faced by small businesses.

The competition is run by global innovation foundation … Read More

Banks see growth opportunity from Open Banking

November 30, 2018 |

HALF of banks expect Open Banking to boost their revenues from business customers over the next five years, research shows.

Analysis by Accenture Research found 90 per cent of banks see the data-sharing initiative as a “key strategic initiative in their … Read More

New Open Banking platform for lenders aims to speed up income verification

November 28, 2018 |

A NEW Open Banking platform is launching next month that enables credit providers to verify loan applicants’ income more quickly.

OpenBankVision, launched by technology company LendingMetrics, is looking to offer its services to peer-to-peer lenders and other finance providers.

Its … Read More

2019 predicted to be game-changing year for Open Banking

November 27, 2018 |

OPEN Banking implementation trustee Imran Gulamhuseinwala (pictured) has predicted that 2019 will be the year that “we realise the full potential” of the data-sharing initiative.

Gulamhuseinwala said that the initial Open Banking launch made “a tremendous step forward” but “was … Read More

UK banks expect Open Banking benefits in six months

November 27, 2018 |

THE MAJORITY of UK banks expect customers to see the benefits of Open Banking within the next six months.

A survey of 400 senior banking executives at banks in the UK, Poland, France and Australia, commissioned by financial software provider … Read More

SMEs have mixed views on Open Banking

November 26, 2018 |

ONE THIRD of small businesses are “wide open” to the opportunities presented by Open Banking, if it helps them save time around their payments and taxes, a new survey has found.

However, another quarter of small- and medium-sized enterprises (SMEs) said … Read More

84 per cent of UK finance firms are investing in Open Banking

November 22, 2018 |

THE VAST majority (84 per cent) of the UK’s financial companies are investing in Open Banking products and services, with almost half (44 per cent) admitting that they are mulling new product launches to improve the Open Banking experience for … Read More

SME loan made using Open Banking data

November 12, 2018 |

A SMALL business loan has been made using Open Banking data via business finance aggregator Funding Options.

It is the first time Open Banking data has been used by a UK fintech for the comparison of small business financial services, according … Read More