1.UK – AltFi
“THE age at which UK men and women finally feel secure in their finances is 31, according to Zopa.
The peer-to-peer lender conducted nationwide research and found that by their early 30s Brits have reduced credit card spending along with building robust savings accounts and paying into pension plans.
Men felt they reached a state of money maturity at 29, while women feel they reached the level four years later at age 33.
Almost two-thirds of those surveyed said that regularly paying into a savings account is the best indicator of being good with money.
More than half, 55 per cent, thought paying into a workplace or personal pension pot heralded the start of financial security, while 53 per cent believed shopping around for the best deals was the top measurement.”
2. UK – SMEs
Selected members will be pre-approved for the credit, and be able to add it to their current accounts with a single tap.
“Offering a credit line to Premium members is the next stage of our credit offering,” said Tide CEO Oliver Prill.
“Our long-term strategy combines proprietary products with partnerships with third-party lenders. Tide’s platform structure means we are able to make rich data available to partner lenders to orchestrate a smooth process for our members to access credit.”
3. US – P2P
FUNDING Circle’s US division is urging the Securities and Exchange Commission (SEC) to amend its restrictions on peer-to-peer retail investment, according to P2P Finance News.
The P2P business lender’s US platform is only open to large institutional investors and accredited investors, due to SEC rules.
The US financial regulator limits annual investment to five per cent of an investor’s annual income if their yearly income or net worth is under $107,000 (£86,075), rising to 10 per cent if the investor earns more than that.
The SEC is reviewing ways to simplify its rules to expand investment opportunities.
4. International – FinTech
“Dr. Zhou Xiaochuan, President, China Society for Finance and Banking, and former Governor, People’s Bank of China, addressed a closed-door audience today in an event sponsored by the Monetary Authority of Singapore (MAS). The topic of Dr. Xiaochuan’s speech was “Fintech development and its interaction with policymaking.”
In recent years, the relationship between Singapore and China has grown closer. In 2016, MAS announced that RMB assets would be included as part of their official foreign reserves.
According to a release by MAS, Dr. Xiaochuan also discussed the emergence of digital currencies without providing details.”
5. International – FinTech
“Funderbeam, the funding and trading platform for private companies, has been granted two financial service licenses in Singapore, as it looks to grow its business in the financial hub.
The startup, which earlier this year raised $4.5m (£3.6m) to push into new markets, has earmarked Singapore as a key growth market.
Its Singapore-based subsidiary, Funderbeam Markets Pte has been granted a Capital Market Services (CMS) licence and a Recognised Market Operator (RMO) licence by the Monetary Authority of Singapore.
The licences will give the company a more robust presence in Singapore and help it to strike deals with Singapore-based companies and investors.”