Traditional banks’ dominance of lending market set to continue despite peer-to-peer growth, report finds May 23, 2016 Banks will fight off competition from non-traditional lenders and continue to dominate the borrowing market over the next decade, a Deloitte report has suggested. The firm’s Marketplace Lending report estimates that by 2025 marketplace lenders (MPLs), previously known as peer-to-peer (P2P) lenders, will account for up to around six per cent, or £35.5bn, of the [...]
Cheer up: Scientists have just found another secret to happiness May 22, 2016 Who isn't looking for that holy grail that is the secret to a happy life? It could be all down to genes, where you live, what you do or how much money you have, depending on the research you read. But now, scientists have identified a new explanation for our joy (or not) in life. [...]
These three charts show how we use the internet now May 20, 2016 More Britons than ever used the internet in the last three months, according to newly-released data from the Office for National Statistics. Almost 46m adults accessed the internet in the last quarter, accounting for 87.9 per cent of all UK adults, a modest jump on 86.2 per cent in 2015. The percentage of Britons who had never used [...]
Sharing is caring: Science has found a solution to tackling low battery on our mobile phones through new system PowerShare May 20, 2016 It's time to rejoice as science might finally have solved one of the most tiresome 21st century (and first world) problems we're all blighted with – low phone battery. A new technology, called PowerShare, consists of docking aids and flexible coils that are embedded in a smartphone or smartwatch that allow you to control the [...]
Online streaming sites like Netflix and Amazon Prime face a European programming quota under new EU rules May 19, 2016 New rules governing the content provided by online video streaming services such as Netflix and Amazon Prime are set to be announced by the European Commission next week. Streaming firms will be required to devote at least 20 per cent of their offering to European content, as the Commission tries to increase funding for Europe's [...]
The four things which could tip the scales in favour of fintech startups over banks May 19, 2016 Banks can breath a sigh of relief. Fintech isn't going to make them obsolete any time soon, according to Moody's, but there are four things to look out for that have the potential to swing that balance in the other direction. There won't be a major shock of disruption from fintech, the credit agency has said [...]
Uber’s driverless cars have hit the roads May 19, 2016 Uber is the latest company to get its driverless car plans into gear, with test vehicles hitting the roads of Pittsburgh, the location of its Advanced Technologies Centre. The billion dollar startup is embracing more technology with Ford Fusion cars which drive themselves. The head of the research centre John Bares told the Pittsburgh Tribune [...]
Zopa’s got a new finance product, expanding into car refinancing loans and more May 19, 2016 Peer-to-peer lender Zopa is branching out with a new loan product offering car refinancing in a bid for a share of the £12bn a year market. Around 40 per cent of Zopa's loans are used for buying a car and Zopa Car ReFi will be a dedicated product aimed at those who already have a car [...]
Digital challenger bank Tandem smashes crowdfunding target in minutes May 19, 2016 Another digital challenger bank has smashed its crowdfunding target within minutes as investors continue to clamour for an opportunity in fintech – and it hasn’t even launched yet. Tandem has raised £1m in just 20 minutes through crowdfunding platform Seedrs. The fundraising was open to those who pre-registered from 12pm today and having already reached its target, the bank is now [...]
This banking platform is using wearables delivering electric shocks to stop people going over their spending limit May 19, 2016 A new banking platform promises to reduce overspending among millennials, by using the "Internet of Things" to break bad spending habits. The platform – called "Interact IoT" – was devised by FinTech company Intelligent Environments and connects individuals’ bank details with smart devices such as Nest and Pavlok. Go beyond your spending limit, and your heating will automatically be turned [...]