Podcast: A glimpse at the role of the bank branch after the pandemic Several banks disclose plans to permanently close...
While speaking at the Asian Financial Forum Jiang Yang, vice chairman of China's Securities Regulatory Commission (CSRC) said that fintech should serve the broader economy, not a select few; two markets mentioned in the talk included p2p lending and cryptocurrencies as they are two of the most popular areas of fintech in China; while Mr. Yang stated that fintech has provided more convenience they should not ignore risks like money laundering and financial crime; he also stated that regulators can play a key role to ensure these new tools are used properly and are widely adopted. Source.
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[Editor’s note: This is a guest post from Prime Meridian Capital Management. Prime Meridian Capital Management is a Bronze Sponsor at LendIt USA...
Zopa plans to reopen to new investors by end of the year after stopping investor on boarding earlier this year; they stopped taking new money because they were finding it harder to get good quality borrowers; they also saw a big jump in demand for their Innovative Finance Isa; while the plan for opening to new investors is targeted at year end it could be delayed by existing investor's Isa demand. Source.
The Bank of England decided to keep rates steady at 0.5 percent which will be a big benefit to P2P...
Chinese p2p lending has been put in a stranglehold by the government in the last couple of years as they...
Peer2Peer Finance News shares a ‘where are they now?’ piece which includes the founders of Zopa, Funding Circle and RateSetter;...
UK based p2p lenders RateSetter and Assetz Capital are pushing the government for access to government financing to help them...
Harmoney is New Zealand’s first and largest p2p lender, launching in 2014; since then they have built up a loan...
RateSetter saw pre tax losses jump to $31mn from $7.1mn due to a bad loan to an advertising company; RateSetter also saw revenues jump by 38 percent as well as increases in customers and borrowers; the bad loan was absorbed by the lender as they explained it fell outside their credit policy and it was unfair to put the losses on their investors. Source.