Bank of England Governor Mark Carney said the crisis shows why regulators and the banking industry must stay on top of the rapid developments in financial technology so that the system is solid enough to withstand shocks.
The Funding Circle SME Income Fund, the listed trust which invests in Funding Circle loans globally, has raised a fresh £142m via a C Share placement.
Growth in China’s peer-to-peer lending sector has proven resilient in the face of new regulations and a year-long crackdown by authorities on online financing, with total P2P loans blowing past the Rmb900bn ($130.7bn) mark last month.
Traditional financial services leaders are facing a dilemma with many senior staff expecting an imminent and substantial hit to revenue due to a variety of new entrants to their long established businesses.
CreditEase Wealth Management, an arm of Chinese fintech giant CreditEase, has today unveiled investment deals worth $30m with OnDeck and LendingHome.
Lendable, the fast-growing consumer lender, has secured a £100m investment from Waterfall Asset Management.
Capitec Bank, one of the leading players in the South African micro lending market, has announced an investment of up to €21m in Creamfinance. The bank will acquire up to 40 per cent in Creamfinance, with the money coming in three tranches.
Kabbage, an online financial technology company that provides funding through its automated lending platform, is to establish its European headquarters in Ireland after a key investor secured a €50 million investment from a major State fund.
The European Commission could introduce EU passporting and lower regulatory requirements for financial technology firms, moves that could undercut London's leading position in "fintech" as Britain gets ready to leave the European Union.