Carney Says Crisis Lessons Are Why BOE Keeps Up With Fintech

Bank of England Governor Mark Carney said the crisis shows why regulators and the banking industry must stay on top of the rapid developments in financial technology so that the system is solid enough to withstand shocks.


Funding Circle SME Income Fund raises £142m

The Funding Circle SME Income Fund, the listed trust which invests in Funding Circle loans globally, has raised a fresh £142m via a C Share placement.


China P2P industry lending nears Rmb1tn despite crackdown, new regulations

Growth in China’s peer-to-peer lending sector has proven resilient in the face of new regulations and a year-long crackdown by authorities on online financing, with total P2P loans blowing past the Rmb900bn ($130.7bn) mark last month.


Big UK banks forecast 40% revenue hit from fintech disruptors, finds PwC report

Traditional financial services leaders are facing a dilemma with many senior staff expecting an imminent and substantial hit to revenue due to a variety of new entrants to their long established businesses.


CreditEase invests $30m via online lenders

CreditEase Wealth Management, an arm of Chinese fintech giant CreditEase, has today unveiled investment deals worth $30m with OnDeck and LendingHome.


Lendable clinches £100m loan purchasing deal

Lendable, the fast-growing consumer lender, has secured a £100m investment from Waterfall Asset Management.


Major South African bank backs European online lender

Capitec Bank, one of the leading players in the South African micro lending market, has announced an investment of up to €21m in Creamfinance. The bank will acquire up to 40 per cent in Creamfinance, with the money coming in three tranches.


Kabbage to set up in Ireland after €50m investment from ISIF

Kabbage, an online financial technology company that provides funding through its automated lending platform, is to establish its European headquarters in Ireland after a key investor secured a €50 million investment from a major State fund.


In blow to London, EU considers passporting for fintech services

The European Commission could introduce EU passporting and lower regulatory requirements for financial technology firms, moves that could undercut London's leading position in "fintech" as Britain gets ready to leave the European Union.