FCA Urges UK Banks to Consider Cutting Mortgage Payments - Tink Comment
- 1 year 8 months ago
- Lending
The FCA’s call for flexibility on mortgage repayments to support struggling homeowners highlights the financial stress many people in the UK are currently experiencing. Tink’s research shows that nearly one in four (24%) Brits have already missed, or expect to miss, a mortgage or rent payment due to the rising cost of living. But there are ways that banks can harness financial technology to help support people in challenging economic times.
Business Lender Sonovate Surpasses £3.5B in Funding to Support Customers During ‘Cost of Running a Business’ Crisis
- 1 year 8 months ago
- Lending
Fintech lender Sonovate has surpassed £3.5bn in total funding and £1 billion in annual funding for the first time as rising costs force businesses to seek finance to manage cashflow and drive growth.
Finastra’s ESG Service Will Support Banks in Delivering a Sustainable Lending Experience to Corporate Clients
- 1 year 8 months ago
- Lending
Finastra today announced the availability of its ESG Service, a cloud-native SaaS solution that streamlines sustainability-linked lending. Open and scalable, ESG Service facilitates the integration of sustainability performance target criteria into ESG pricing for both Finastra Loan IQ and other back-office systems in the market.
Challenger and Specialist Bank Lending Reached Record High of £35.5B in 2022, Finds Latest British Business Bank Research
- 1 year 8 months ago
- Lending
Published today, the British Business Bank’s Small Business Finance Markets 2022/23 report shows £35.5bn of bank lending came from challenger and specialist banks in 2022. This exceeded lending by the major banks during the period, giving challenger and specialist banks a 55% share of the market Gross bank lending increased by 12.8% in 2022, however, net lending fell by £8.5bn in large part reflecting repayment of Covid loans.
Freedom Finance Renews Partnership with the Centre for Social Justice Until 2025
- 1 year 8 months ago
- Lending
Freedom Finance, one of the UK’s leading digital lending marketplaces, is renewing its partnership with independent, award-winning think tank the Centre for Social Justice (CSJ) until 2025.
Penn Community Bank Deploys the Lenders Cooperative Loan Origination System to Streamline Loan Processing and Enhance Customer Experience
- 1 year 9 months ago
- Lending
Penn Community Bank, the largest mutual bank in eastern Pennsylvania,
Surge in Personal Loan Requests as Consumers Consolidate Their Debts
- 1 year 9 months ago
- Lending
UK consumer lender Fluro has today launched the first edition of its quarterly “Consumer Lending Newsflash”, examining current trends across UK consumer lending by analysing data from its market-leading technology stack.
Froda, Lunar and Visa Unveil Innovative SME Lending Solution
- 1 year 9 months ago
- Lending
Access to financing has long been a major hurdle for businesses eyeing growth. Against this backdrop, Visa, Froda and Lunar are announcing a global partnership and launching a new, innovative technology aimed at resolving these issues – for good. The product, which for the first time utilizes push-payment functionality for financing, aims to reduce transaction times to mere seconds. Ordinarily, this process would have taken months.
P2P Lending Aims at Business
- 1 year 9 months ago
- Lending
In 2022, the business sector expanded by 76% compared to the previous year. European P2P consumer lending reduced the pace of growth. Last year, the most popular P2P segment of consumer lending had reduced volumes. According to P2PMarketData, the decline was -25%.
iwoca SME Expert Index: High Street Banks Cut Lending to SMEs as Demand for Finance Grows
- 1 year 9 months ago
- Lending
Demand for finance from the UK’s 5.5m small and medium-sized businesses1 is on the rise at the same time as banks are reducing their lending appetite, according to iwoca’s latest SME Expert Index.
Lending Platform mPokket to Expand its Workforce by March 2023
- 1 year 9 months ago
- Lending
Digital lending platform mPokket plans to expand its team strength by March 2023 across all verticals, as part of its mission to empower India’s youth and maintain its growth trajectory. The total number of employees at the Kolkata-based company stands at 2700 including employees at it’s Bangalore office.
Lentra Forays into Southeast Asia; Aims to Reach $100M in ARR by 2024
- 1 year 9 months ago
- Lending
Lentra, a leading digital lending cloud platform has announced its entry into South East Asian economies of Indonesia, the Philippines, and Vietnam to cater to their growing digital lending needs. With this expansion, Lentra aims to reach $100M in annual recurring revenue (ARR) by March 2024. The move follows the company’s latest fundraise of USD 60 million in a Series B round led by Bessemer Venture Partners, Susquehanna International Group (... more
FACE's Statement on Illegal Lending Apps Ban
- 1 year 9 months ago
- Lending
Fintech Association for Consumer Empowerment (FACE) is an industry body of fintech lenders working towards building a consumer-first ecosystem for digital lending that is responsible and responsive to consumers’ needs. FACE wholeheartedly supports the Central Government's actions and the policy intent to ban predatory lending apps with dubious antecedents.
SNB Capital Begins Saudi Securities Lending Journey with Broadridge
- 1 year 9 months ago
- Lending
To address recent regulatory changes, SNB Capital has chosen global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), to help build its local securities lending and borrowing business. As the largest broker and asset manager by market share in 2022 and a leading custodian in Saudi Arabia, SNB Capital will leverage Broadridge’s Securities Finance and Collateral Management (SFCM) solution to grow the coverage of its Securities... more
Tarabut Gateway Partners With KSA Micro-Lending Pioneer Tamam
- 1 year 9 months ago
- Lending
Tarabut Gateway, MENA’s leading regulated open banking platform, announces a new partnership with Tamam at LEAP Riyadh 2023. Tamam is a Shariah-compliant micro-lending service provider based in Saudi Arabia and a subsidiary of Zain, a leading telecommunications company in the MENA region.
