London Fintech Week 2018

Fintech Week

July 6th – 13th, 2018 QEII Centre, London UK Fintech Week is a series of conferences, exhibitions, workshops, hackathons, meetups and parties. Each day, the focus is on a different topic. There is also plenty of time for networking and meeting other innovators. The main conference/exhibition takes place at the QEII Centre in Westminster, but […]

Fintech Week

July 6th – 13th, 2018
QEII Centre, London UK

Fintech Week is a series of conferences, exhibitions, workshops, hackathons, meetups and parties. Each day, the focus is on a different topic. There is also plenty of time for networking and meeting other innovators. The main conference/exhibition takes place at the QEII Centre in Westminster, but other events take place across the city of London, Canary Wharf and “Tech City.”

Expect 600-1,000 conference delegates per day from over 50 countries and 3,000 – 5,000 participants in events throughout the week.

Register here.

Friday January 20 2017, Daily News Digest

loan principal outstanding uk

News Comments Today’s main news: LendIt announces finalists to first annual industry awards. OFF3R reports strong growth in UK P2P lending (38%growth in 2016 to £2.653 billion) Today’s main analysis: You can’t keep a good crowd down. Today’s thought-provoking articles: LendingRobot introduces robo-fund for alt lending. France sees first big loss in RECF. United States LendIt announces finalists for […]

loan principal outstanding uk

News Comments

United States

United Kingdom

European Union

India

United States

Finalists Announced for First Annual LendIt Industry Awards (PR Newswire), Rated: AAA

LendIt, the world’s largest show in lending and Fintech, today announced finalists for its first annual LendIt Industry Awards. Out of hundreds of applicants worldwide, the selected finalists are all vying for top honors within 18 categories, which celebrate Fintech market leaders, emerging innovators, and top talent. Finalists were chosen based on innovation, emerging talent and top performers.

The finalists will be evaluated by more than 30 renowned Fintech industry experts including CEOs, investors and media. The winners will be announced during the LendIt Industry Awards Show & Dinner taking place on March 7th at the Edison Ballroom in the heart of New York City. In addition to the ceremony, the LendIt Industry Awards evening will include a cocktail reception, a 3-course dinner and live entertainment.

Below are the finalists, per category:

Innovator of the Year

  • Fundbox
  • Lemonade
  • LendKey
  • XOR Data Exchange
  • Zopa

Top Consumer Lending Platform

  • Avant
  • LightStream
  • Marlette Funding
  • SoFi
  • Upstart
  • Zopa

Top Small Business Lending Platform

  • Ascentium Capital
  • Iwoca
  • Kabbage
  • OnDeck
  • StreetShares
  • SmartBiz

Most Innovative Bank

  • Cross River Bank
  • Goldman Sachs
  • ICICI Bank
  • Santander Bank
  • UBS
  • WebBank

Best Journalist Coverage

  • George Popescu, Editor in Chief, Lending Times
  • Anna Irrera, Fintech Correspondent, Reuters
  • Zack Miller, Founder and Editor, Tradestreaming
  • Sean Murray, President and Chief Editor, deBanked
  • Oscar Williams-Grut, Senior Reporter, Business Insider UK
  • Tony Zerucha, Managing Editor, Bankless Times

See the full list of finalists in every category here.

The First Robo-Fund for Alternative Lending (LendingRobot Email), Rated: AAA

LendingRobot clients can enjoy both superior returns and low volatility, thanks to the combined benefits of the asset class and our machine-learning algorithms, but we think now is the time to move to the next level. This is why, next week, we will launch ‘LendingRobot Series’, the first combined robo-advisor/investment fund ever created for Alternative Lending.

Like a fund, LendingRobot Series will offer automated diversification on multiple origination platforms. Unlike a traditional fund, LendingRobot will improve liquidity, be flexible, and be completely transparent. Uniquely, you will decide how you want your portfolio to be constructed: conservative vs aggressive, short term vs long term.

I highly recommend you to visit to learn more and secure a spot immediately, as we are initially limited by regulatory and business constraints to only 99 accredited investors.

Lending Robot for Advisors Launches Connecting to Lending Club Platform (Crowdfund Insider), Rated: A

Lending Robot, the robo-advisor that connects retail investors to P2P loans, has launched a new product: LendingRobot for Advisors. This new service will help connect registered investment advisors to invest in Lending Club loans.

TD Bank to sponsor MIT’s first fintech hackathon (Finextra), Rated: A

MIT has recruited TD Bank and Prudential to sponsor its first-ever fintech hackathon.

The two-day event in February is challenging students and young professionals to create an interdisciplinary team and compete for a $10,000 prize pot.
The 30-hour hack will culminate with a demo to a panel of judges and mentors, with the winning team pocketing a $4k grand prize and the four runners up walking away with $2k bonuses.

How Fintech Can Disrupt the $ 14T Mortgage Market (Investopedia), Rated: A

Fintech, which has already disrupted the payments, banking and financial advisory markets, is beginning to enter the $14 trillion mortgage market.

Non-bank mortgage lending is expanding as commercial banking declines. In fact, mortgage lending by type of institution shifted dramatically between 2007 and 2014. Recently, commercial banks provided 52% of mortgage lending, down from 74% in 2007. In 2014, mortgage lending by non-banks almost doubled to 43% from 23% in 2007.

Radius Financial Group cracked the fully paperless mortgage code in 2016.

Clara, a California startup, aims to solve some of the mortgage problems that plague consumers seeking to buy a home. Founded by engineer Lukasz Strozek and Jeff Foster, a former policy advisor at the U.S. Treasury Department, Clara strives to smooth out the inefficiencies that accompany the mortgage lending industry. Clara differentiates itself by educating lenders and offering an online portal for completing paperwork.

Lenda, a home-loan provider, also offers a digital mortgage solution. Other digital mortgage lending services include Quicken Loans’ Rocket Mortgage. Then there’s SoFi, the fintech firm known for student and personal loan services, which is also gaining ground in the digital mortgage lending sphere.

A recent JD Power survey found that 62% of respondents under 35 who bought a home this year stated that they’d use a mobile app to complete a mortgage application, if available from their lender.

United Kingdom

You can’t keep a good crowd down – the rise of alternative finance (altfi), Rated: AAA

As the graphic clearly illustrates, the past three years have been a period of very strong growth for the sector, and business has grown six- to seven-fold for market leaders Funding Circle and Zopa in that time.

As one might expect, net lending (i.e. originations less redemptions), has been positive and gathering pace over time – a clear sign that investors have slowly but surely embraced P2P lending and Crowdfunding as genuine alternatives to conventional forms of finance.

However, the blip that should be immediately obvious to everyone is the six-month lull around the EU referendum vote in June 2016. While total net lending remained in positive territory (i.e. the industry was growing overall), volumes halved to an average of c.£40m/mth in the months leading up to and immediately after Brexit (versus c.£80m in the six month period prior).

Nonetheless, volumes have rebounded quickly and strongly, and by November 2016, monthly net lending across the four largest P2P platforms had reached a new record of over £100m.

OFF3R Index: Very Strong Growth for UK P2P Lending in 2016 (Crowdfund Insider), Rated: AAA

Today we have numbers from OFF3R that captures the activity of 9 UK peer to peer lending platforms.

According to the OFF3R Index, p2p lending grew by 38% in 2016 increasing by £732 million during the year topping £2.653 billion.

  • The European Parliament announced towards the end of 2016 that the Equity Crowdfunding limit for raises on platforms without an investment prospectus would increase from €5million to €8million.
  • Greater consistency of financial performance data and clearer vetting of investors may impact the industry.

Assetz Capital Hurdles £200 Million in Lending to SMEs (Crowdfund Insider), Rated: A

Assetz Capital, a peer-to-peer lending platforms, has announced having originated £200 million in loans since launching in 2013. The alternative finance platform targets small and medium-sized UK businesses and also helps property developers acquire funding. Assetz Capital says it is now originating secured loans totaling up to £26 million per month. In Q4 of 2016, Assetz Capital lent over £45 million.

The milestone caps a record year for Assetz Capital, in which over £108 million was lent in 2016. Investors earned a total of £17 million of interest since the platform launched.

‘Socially useful’ finance and the regulation of peer-to-peer lending in the United Kingdom (LSE), Rated: A

These appeals to socially useful finance occurred at a time in which there was also a large-scale expansion of forms of financial activity that could lay claim to meeting some of these criteria.  A sub-section of these emerging financial activities—peer-to-peer lending, in which various platforms focus on brokering direct lending agreements between counterparties—has seen particularly impressive growth, with statistics from Altfi showing lending volume across the sector totalling over £7.8bn by January 2017, rising from just £400m in January 2013.

The regulation of the peer-to-peer lending marketplace is therefore of considerable significance, because regulation by the state represents an explicit endorsement that an activity is legitimate and credible as well as providing reassurance that adequate protections are in place.

In sum, then, P2P lenders were successful in lobbying for regulation, providing the industry with reputational legitimacy without stifling industry practices.   In contrast to mainstream finance were such appearances of capture have led to accusations of rent-seeking, the case of P2P lending appears to have facilitated financial activities that meet some regulators’ (admittedly modest) understandings of ‘socially useful’ finance.

European Union

Tout Perdu: First Big Loss Hits French Real Estate Crowdfunding Sector (Crowdfund Insider), Rated: AAA

According to a report in Capital, real estate developer Terlat has used two crowdfunding platforms to finance projects. Terlat has leveraged both WiSeed and Anaxago – two prominent online marketplaces – to raise capital for six different projects. The report states the company is now at risk of bankruptcy placing approximately €2.6 million raised on crowdfunding platforms at risk.

“[WiSeed] has already received from Terlat a reimbursement of €300,000 out of the €560,000 loaned as part of the project Le Passage.”

Lender Linked Finance agrees funding deal with Eiffel (Irish Times), Rated: A

Irish peer-to-peer lender Linked Finance has agreed a deal with Paris-based Eiffel Investment Group that will boost its access to funding as it seeks to become the biggest non-bank lender to SMEs here.

Eiffel has agreed to contribute up to 20 per cent of funding for new loans listed on Linked Finance’s platform.

India

Govt should allocate funds for infrastructure projects in order to sustain demand (India Info Online), Rated: A

India’s economic growth is likely to decelerate by 1% to 6.6% this year as per IMF recent release. Government is therefore expected to allocate funds for infrastructure projects in order to sustain demand during the year 2017.

Hence, we expect government to provide tax exemption upto Rs 1,00,000 on investment in alternative investment sources and make provisions towards adjusting loss / non recoverable debt against the respective head.

The move shall encourage individuals to invest in alternative investment platform namely P2P lending which is a high return, medium risk avenue facilitating better returns for the common men at one end and funding support for SME on the other.

Authors:

George Popescu
Allen Taylor