FCA delaying the Innovative Finance ISA rules.
Wedding financing Promise Financial lending $1m per month.
80% of SME that sought financing in 2015 in the US got it vs 65% previous year.
Goldman Sachs laying off 5% of sales and traders in fixed income.
There are 1,300 online lending companies servicing about 1% of the overall market.
In the UK Banks borrowed 3 times more and lent 20% less in 2015.
Deloitte forecasts that reliance on third parties for noncore infrastructure and talent will be a common phenomenon.
|March 4th 2016|
|Wait a little longer, regulator tells P2P lenders||Today, the FCA sent out a letter to 31 lenders telling them they may have to wait a little longer for the Innovative Finance ISA rules due to regulatory tweaks that have made them “unable to make authorisation decisions,” according to a copy seen by FT Alphaville.||AAA||FT Alphaville|
|Wedding Financing Platform Promise Financial Surpasses $5 Million In Loan Originations||Specialty niche lender is getting traction. A great example that there is still plenty of space to enter the online lending space. Promise Financial surpassed $5 million in loan originations and now arranges more than $1 million of financing each month. The company is experiencing rapid growth by addressing a growing need in the U.S. where there are 2,000,000 weddings annually with an average cost of $30,000. Promise Financial's online platform provides access to financing that allows people to pay for weddings over time, with low rates and transparent pricing.||AAA||PR Newswire|
|Federal Reserve Survey Of Small Business Credit: Higher Approval Rates, But Many Still See Shortfall||Approval rates substantially better in 2015 versus 2014: 80% of small businesses that sought financing got it, compared with 65% the previous year. And 45% of those that asked for funds received all the financing they requested, versus 38% the previous year. Microbusinesses (with revenues less than $100,000) had the greatest unmet financing needs, with 63% reporting shortfalls, followed by startups (in business two years or less) with 58% reporting shortfalls. More than 90% of loan applicants went to banks, compared with 20% that applied to online lenders. In Florida, for example, which reported much lower approval rates, below 50% at both small and large banks, 35% turned to online lenders versus 20% for the survey as a whole, Wiersch says.||AAA||Forbes|
|Goldman, BofA Dismiss Traders After Getting Taste of 2016 Markets||Goldman Sachs plans to lay off more than 5% of the traders and salespeople in its fixed income unit, according to Bloomberg. Meanwhile, the same story reports that BofA Merrill Lynch next week plans to lay off around 150 traders and investment bankers.||AAA||Bloomberg|
|Dynamic Pricing in Alternative and P2P Lending||Online Lending : "there are still approximately 1,300 companies in the US offering services to about 1% of the overall market" . Dynamic pricing analysis : "Abandoning Strict Cohort Analysis Pricing" . Relationship pricing is difficult in singularity, but a competitive differentiator and a smart strategy when offerings are bundled.||AAA||The Financial Brand|
|Lending to small businesses drops as banks increase borrowing under funding for lending scheme||Bank lending to smaller businesses fell at the end of last year. Only £599bn was lent to smaller businesses in the final three months of 2015 from £755bn in the three months to September, according to data released by the Bank of England this morning. However, banks borrowed £6.3bn from the Bank of England of cheap loans over the period, up from £2.4bn in the three months to September.||AAA||City A.M.|
|Bondora Celebrates 7 Years of Marketplace Lending (Infographic)||Estonia-based marketplace lending platform Bondora is now 7 years old. A few interesting data points for Bondora (né isePankur): €10 million in total interest paid Over 13,000 investors Average loan size is €2363 Average interest rate is 28.97%||A||Crowfund Insider|
|First Associates Loan Servicing, LLC Hosted a Ribbon Cutting Ceremony Symbolizing Continued Growth and Leadership in the Financial Services Industry||1st Associates , a servicing company, celebrates 30 years in business.||B||Nasdaq Globe Newswire|
|Financial services set for a fundamental shake-up - Deloitte||Deloitte forecasts that reliance on third parties for noncore infrastructure and talent will be a common phenomenon as banks become increasingly connected via a complex network or web of vendors and third parties. Brand equity in the industry will also likely flow from partnerships with others in the ecosystem as banks play catch up with super-consumer brands such as Google and Apple.||AAA||Finextra|
|Exchanging Liquidity for Returns||NSR Invest's monthly newsletter. In general, illiquid asset investors are spared from unnecessary losses resulting from irrational market pricing and trading effects. Illiquid asset investors may expect to receive a premium return from their investment as a reward for the ability to stay invested throughout an asset's duration. Peer-to-peer loans are one of the market’s most readily investable illiquid assets, providing an ideal example of the liquidity premium opportunity available for retail, accredited, family office, and institutional investors. .||A||Email campaign|
|Cloud Lending Solutions Introduces CL Lease to Power Equipment and Vehicle Lease Markets||CL Lease™, a proven end-to-end, cloud-based asset leasing solution that enables efficient servicing and asset management for institutional, independent and captive lessors.||B||Cloud Lending Marketing|
Author: George Popescu