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Peer-to-peer lender Flender celebrates first wave of successfully funded SME loans
Friday, 07 July 2017
Itself created by crowdfunding, social circle peer-to-peer lender Flender has helped raise finance for five SME’s with an average loan value of £25,000 and interest rate of 10%.
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The role of AI in lending and leasing
Friday, 07 July 2017
At the annual Linedata Exchange Europe conference in London, Bertrand Cocagne, Head of Product at Linedata Lending & Leasing, outlined the obstacles AI needs to overcome to be a real game changer in lending and leasing:   “Artificial Intelligence (AI) is by no means a new buzz word and we’re already seeing examples of it being used to significantly increase efficiencies around new business processes in lending and leasing. In the last ten years we’ve seen a major step forward. In small ticket and auto finance some lenders are using automated credit scoring to underwrite almost a 100% of deals. The trust however is not there yet across all segments of asset finance, and in the more complex and bigger ticket credit cases AI is no more than a guide helping humans validate decisions.
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ABA Report: Consumer Delinquencies Rise in First Quarter
Thursday, 06 July 2017
WASHINGTON — Delinquencies in closed-end loans rose in the first quarter, driven by an uptick in late payments on auto loans, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in 7 of the 11 individual consumer loan categories tracked by ABA.   
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Expert comment: MiFID II & cloud mobile tech
Tuesday, 04 July 2017
Chris Michael, CEO and Co-Founder at Swytch, Comments: “By covering the entire advice chain, MiFID II extends call recording requirements to more situations, more team members and more devices than ever before. With personal mobile phone use now prominent in business, this presents a control issue for organisations faced with MiFID II compliance. Some insist bring-you-own-device (BYOD) policies will be incompatible with MiFID II, or that compliant company SIMs will be the only answer. In reality it’s not the devices or SIMs that need to be company controlled to actively demonstrate compliance, but the business mobile number. 
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Study reveals Brexit confusion over MiFID II
Tuesday, 04 July 2017
Results from a study of IT managers and decision makers and Risk & Compliance managers within UK financial services businesses, reveals there is significant confusion about the impact Brexit will have on MiFID II compliance.  
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Has the expansion of car finance overstretched borrowers?
Monday, 03 July 2017
Over the past decade, there has been a significant shift in patterns of consumer behaviour in relation to purchasing of new cars. UK private car registrations were 39% higher in 2016 than they were in 2011, a trend which has in part been driven by the expansion of the Personal Contract Purchase (PCP) deals. Some 82% of private new car purchases was financed in this way in 2016. PCPs contribution to the rise in unsecured borrowing is firmly on the radar of both the Bank of England (BoE) and Financial Conduct Authority (FCA).
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New Standards of Lending: understanding SMEs to deliver fair access to finance – Equifax comments
Friday, 30 June 2017
Nic Beishon, Head of Commercial at Equifax, the consumer and business insights expert, comments on the new Standards of Lending Practice for small businesses, which come into effect tomorrow [1 July]:  “As major contributors to the ongoing success of the UK economy, SMEs will benefit from the new Standards of Lending Practice. The standards will drive good practice for lenders when assessing different types of business, protecting those borrowing money and delivering fair customer outcomes. Evaluating a borrower’s capacity to meet their ongoing repayments is increasingly important to safeguard them against over indebtedness, and to identify businesses at risk of falling into financial distress.
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Cifas comment response to National Audit Office report
Friday, 30 June 2017
Following on from the release of the report this morning if you are writing about this, Deputy Chief Executive Mike Haley has issued the following comment:   “We welcome the report findings from the National Audit Office and a number of its recommendations. In particular, we would welcome the expansion of the membership of the Joint Fraud Taskforce to include other stakeholders, such as the retail and digital sectors, improving the collection and reporting of fraud, and examining sentencing guidelines for fraud, which are all proposals that Cifas has called for previously. “
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Tikehau Capital acquires Credit.fr and expands its financing solutions for smaller businesses
Friday, 30 June 2017
Tikehau Capital today announced it has completed the acquisition of Credit.fr, the French specialist in crowdlending1 for small businesses financing, for an amount of €12 million. Incubated since March 2015 by Truffle Capital and under the leadership of Geoffroy Roux de Bézieux, its chairman since November 2015, Credit.fr has rapidly established itself as an essential player in the small and mid-sized companies (SMEs) alternative financing market.
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COMMENT: European Card Fraud for 19 Countries Hit Record €1.8 Billion
Friday, 30 June 2017
A new report, issued today by FICO, revealed that European card fraud losses hit a record €1.8bn in 2016, and the UK had the highest card fraud losses in the region, hitting a new peak at £618m. The previous peak in the UK was set in 2008, before the introduction of chip and PIN.  
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Is the party almost over?
Friday, 30 June 2017
The Bank of England, the UK's central bank, has given the strongest indication yet it’s about to interrupt the consumer debt fuelled party that has been warming up across the UK for the last 18 months and may soon, like a disapproving parent, be sending credit card companies and other financial institutions home.  
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