News from around the world
Evening Standard reported on recent moves by the regulatory body known as The Financial Conduct Authority which “agreed to grant full authorisation to most of the leading lights of the peer-to-peer lending industry.” This decision allows P2P firms to lend retail funds without the burden of capital requirements seen at traditional banks.
MondoVisione discussed a recent move from Orca a leading research and data analyst covering the UK P2P market. The company will be releasing a rating system which will help users determine the best marketplace lenders in the business. These ratings are based on performance, liquidity, operator health and security.
Crowdfund Insider shared research from three entities which together reported that the alternative finance market volume rose to $35.2 billion total across the U.S., Canada, Latin America and the Caribbean, an increase of 23% over the previous year. Meanwhile, “The US, Marketplace/P2P Consumer Lending continued to account for the largest share of market volume with $21 billion recorded in the US in 2016 (up 17%).”
Bankless Times explained that some industry insiders believe the P2P lending world requires more maturation to truly find its footing. Some experts consulted have expressed an interest in seeing major marketplace lenders invest in technology to improve the user experience across platforms. In the end, this kind of reinvestments will help build long-term relationships with customers.
PYMNTS looked at millennials and how they’ve embraced technology to help secure their personal financial profile. This desire is in contrast to previous generations that are now exiting the workforce and interested in maintaining their lifestyle. “Two in five Americans say they make and manage their investments through an online or mobile portal,” explains the author.