In line with our risk management framework, today we published our Q4 2019 performance update.
Innovate Finance - FinTech industry body
A new industry body designed to unify and accelerate growth in technology-led financial services innovators has launched.
Lending Works is pleased to be a founding member of the body, which was unveiled by George Osborne, Chancellor of the Exchequer, on 6 August 2014. The launch is intended to cement Britain as a global leader of the Financial Services Technology (FinTech) sector.
Mr Osborne said: “I want the UK to lead the world in FinTech. We have all the ingredients we need. With the right help from government, we can turn London into the FinTech capital of the world. We will ensure a regulatory environment that gives FinTech companies and alternative finance lenders the ability to innovate.”
Specific actions he announced include:
- £100m of funding for FinTech businesses
- A review of the FinTech sector to highlight key growth areas
- New legislation meaning banks will be required to forward customers they have declined to alternative lenders
Innovate Finance is backed by the City of London Corporation (lead sponsor) and Canary Wharf Group Plc (founding sponsor), who have together funded £600,000 to support its launch. Other supporters include UK Trade & Investment.
The founding members of the body are broad in their demographic, however they have one common goal - to use technology innovation to advance financial services. Included within the founding members are banks, global insurance companies and financial innovators such as Lending Works.
More information can be found on the Innovate Finance website, by clicking here: http://www.innovatefinance.com/
Our website offers information about saving, investing, tax and other financial matters, but not personal advice. If you're not sure whether peer-to-peer lending is right for you, please seek independent financial advice, and if you decide to invest with Lending Works, please read our Key Lender Information PDF first.
Since opening our doors back in 2014, we’ve always prided ourselves on living and breathing two key principles at Lending Works: innovation, and putting the customer first in everything we do.
With the retail sector enduring its fair share of challenges, companies are looking at new ways to attract customers, and drive conversion. In an overcrowded, dog-eat-dog marketplace, with behemoths such as Amazon flexing their muscle, it’s easier said than done.
On 4 June 2019, the Financial Conduct Authority (FCA) released its new regulatory framework for peer-to-peer lending (P2P); a Policy Statement known as PS19/14. As you might imagine, it's a document which, following a three-month consultation, is a hefty read of no fewer than 102 pages.
In a difficult climate, customer acquisition and lead generation present stern challenges for UK retailers, and a great deal of marketing spend invariably gets directed towards getting feet through the door.
Over the last decade, there can be little dispute that the reputation of mainstream banks – and particularly the so-called ‘Big Four’ (HSBC, Barclays, Lloyds and RBS) – is at its lowest ebb.
The peer-to-peer (P2P) lending industry is now regulated by the Financial Conduct Authority (FCA). The regulatory framework has been designed to protect customers and promote effective competition.
In a decade of slow recovery, the rapid rise in asset prices has been the standout. But how sustainable has price growth been, and could we be in the midst of a bubble?
Most people consider income tax to be a given, but in the UK it is barely two centuries old. In this article, we look at how this tax has developed over the years, and also why it is set to remain at the core of our tax system for many decades to come.
Open banking celebrated its second birthday last month, but has the ‘revolution for financial services’ that was promised actually come to pass? In this article, we look at the progress the initiative has made so far, and what the future holds in the face of high levels of scepticism.
On the face of it, a 'broken' energy market needed fixing, and the price caps introduced in early 2019 were heralded as the solution. But, one year later, have they actually helped consumers save?
Last week, the Office for National Statistics surprised economists by announcing that the Consumer Price Index (CPI) had sunk to 1.3 per cent for December – a full 20 basis points lower than City expectations, and also the November equivalent.