A recent study conducted by the European P2P lending platform Robo.cash has named positive profits in 2019 and work with affiliated loan originators as the 2 key factors for P2P platforms’ success during the crisis. Remarkably, interest rates, funding volumes and the platforms’ experience do not play big roles here. 

As the UK marks six months since the country went into lockdown, Masthaven Bank has today revealed the extent of its support for its intermediary partners and customers throughout the COVID-19 crisis. Since March, the specialist lender has paid £1.4m in commission to its intermediary partners, providing vital financial support to these individuals and businesses.

UK-based global FinTech business Paysend today announced record growth figures after it was revealed last week that the Royal Mint will be discontinuing certain lines of coin production for 10 years. As a result of the coronavirus pandemic, coins have seen a steady decline in usage, resulting in the decision to stop producing £2 and 2p coins for the next ten years.

A CFD or contract for difference is a financial product that allows a trader to speculate on asset classed without owning a portion of the underlying asset. A CFD trade is not an investment but high-risk speculation that carries the risk of losing all your money very fast.

Tech Nation, the growth platform for tech companies and leaders, announces the 31 tech companies that have been selected to join the Fintech Cohort 3.0, in conjunction with revealing new data that shows the UK is leading fintech in Europe. 

ClearBank, the cloud-native clearing bank, in partnership with Tide, the UK’s leading business banking platform [1], have been awarded £25m to help UK SMEs turn recovery from the coronavirus crisis into a growth opportunity.

The funding will be used to provide financial support and products to help SMEs address the challenges they will face in the post-coronavirus and post-Brexit economic environment and to seize on the opportunities that come out of it.

Volante Technologies, the global leader in cloud payments and financial messaging, today announced that Volante has been collaborating with Goldman Sachs Bank USA (“Goldman Sachs”) to provide the payments technology underpinning the bank’s recently

The world’s largest cryptocurrency payments processor, CoinPayments, announces its collaboration with Sumsub, an identity verification platform that provides an all-in-one technical and legal toolkit for KYC/KYB/AML needs. This partnership will simplify onboarding for CoinPayments users, while optimizing conversion rates, reducing costs by 30% and reducing time spent on routine tasks by 50%.

Temenos (SIX: TEMN), the banking software company, today announced that Temenos Infinity now offers a real-time, end-to end account opening and onboarding digital experience in just seconds. The account is fully funded and ready for customer use. The simplicity and unparalleled speed of the Temenos onboarding process combined with KYC and AML checks helps banks and credit unions increase conversion rates and drastically reduce operating costs.

Digital banks and other FinTechs are emerging as more nimble competitors to established legacy banks. The digital banks that are on their way to becoming fully chartered have the opportunity to setup fully automated processes and systems without legacy systems getting in the way.