P2P lending: Why the Lending Club fiasco won’t send us all back to the dark ages May 19, 2016 You'd be forgiven for thinking, following last week’s news that Lending Club’s chief executive Renaud Laplanche was stepping down amid allegations around loan sales and misconduct, that this is the end of P2P lending as we know it. Commentators have been quick to discredit the P2P sector, with online lenders labelled “banks in disguise”, up [...]
Lending Club fiasco: This is the company helping P2P platforms grow up with integrity May 19, 2016 The resignation of US giant Lending Club’s chief executive last Monday sent a icy wave of unease through the P2P lending industry. Writing in City A.M. last week, AltFi’s Rupert Taylor commented: “the failures at Lending Club justified robust action because they related to a discipline that is central to what distinguishes P2P from conventional [...]
Pay by Fitbit? It could soon be a reality after this acquisition of assets from fintech startup Coin May 18, 2016 Fitbit has indicated a move into payments with the acquisition of technology from a Silicon Valley firm specialising in wearable payments, meaning users might in future be able to pay for things simply by swiping their Fitbit. The tech company has snapped up the assets of Coin, a startup in the fintech and wearables space which created a [...]
Why Google’s Android Pay UK launch is far more exciting than Apple’s May 18, 2016 Less than a year after Apple Pay reached the UK, Android Pay has landed. Since last July only a lucky few – those who own an Apple Watch or one of the recent raft of iPhones (including the SE) – could pay for goods and services via their phones. This was merely the green shoots [...]
Google’s Apple Pay rival Android Pay is finally here in the UK May 18, 2016 Good news for anyone eager to pay using just the swipe of their mobile, but who doesn't own an iPhone. Google's Android Pay is launching in the UK today, bringing the tap and pay technology to millions of smartphone users across the country. A rival to Apple Pay which launched last year, the app lets users pay by [...]
Identity and security: The price we must pay to keep our information safe – and the companies helping us do it May 17, 2016 In ancient Roman mythology, Janus, the god of boundaries, is usually depicted as having two faces. Skip a few thousand years to today’s modern world, and many of us still wear more than one mask: there’s the one we present at work, one we wear in front of family, and others we wear in front [...]
How traditional banks can keep ahead of their fintech noisy neighbours in innovation race May 16, 2016 There have been plenty of reports about fintechs being bad news for banks, but in actual fact they may be the best thing to happen to traditional banks and the banking sector for a long time. No, really. Many have warned that the introduction of digitally savvy options into the retail banking sector will prove [...]
Lystable’s Peter Johnston talks brutal camps, moving to San Francisco and building the IDs of the future May 16, 2016 Imagine what it would feel like to make your housemate a millionaire within in a year. Your startup’s software enables companies to onboard, resource and pay their contract workers. It’s specific, but sticking to this underserved niche has allowed you to grow very fast. You have 4,500 contractors on your system and you recently had a [...]
How new London mayor Sadiq Khan can solve London’s startup funding crisis May 12, 2016 I would like to congratulate Sadiq Khan on becoming London’s new mayor and it is encouraging that he claims he will be “the most pro-business mayor London has ever had”. There is a booming startup scene in the capital which, if supported, will benefit our City for generations to come. But success is by no [...]
The storm is here: This is what you should expect to happen to P2P following the Lending Club catastrophe May 11, 2016 It's been a rather dark few days for the alternative lending industry. On Monday, news broke that the chief executive of US giant Lending Club, Renauld Laplanche, had been forced to resign by his board. First, the platform disclosed that it sold near-prime loans to a bank (Bloomberg reported that it was Jefferies) which it knew [...]