Last month our team was the lead sponsor at LendIt, the largest conference dedicated to connecting the global online lending community. The conference, which took place over two days in London, had more than 900 attendees from across the world. Samir Desai, Funding Circle CEO and co-founder, delivered the keynote speech where he discussed the importance of being good at both the ‘fin’ and the ‘tech’. Watch the video to learn about the three ‘mega-trends’ that make online lending an unstoppable force and read this piece to hear why Samir believes our sector is about to enter a ‘golden age’.
The seminal moment of the conference came when Lord Turner spoke about online lending and whether it poses systemic risk to our economy. As an individual who once viewed the industry with uncertainty, Lord Turner said he now better understands the level of credit assessment platforms undertake. He went onto say that the fast-growing sector may come to form a stable and secure part of the financial ecosystem – and could even make a future credit crunch less likely. Watch his speech here and read more in Bloomberg, Daily Telegraph, Business Insider, AltFi and the Times.
Following the EU referendum result, Bloomberg took a look at how online lending platforms have responded. Even before the referendum, we were carrying out further stress tests on our loanbook to show what could happen to investor returns during an economic downturn. The results predict that in a deeper and longer-lasting recession than 2008, investor returns are likely to remain attractive. Although as always, capital is at risk. Read the full results on our blog.
Being able to attract the best talent is crucial if we want to ensure the UK maintains its status as the leading global FinTech hub. Last month, Britain’s leading technology companies wrote to the government urging them to find solutions to the digital industry’s need for international talent, particularly developers. Read more in City AM.
If it’s good enough for Neil Woodford… peer-to-peer trusts can yield up to 10% – but are they worth the risk?
Another way for investors to diversify their online lending portfolio is to look at the various investment trusts that are now in this space. These funds allow investors to diversify either across regions or platforms. Learn more about the opportunities and risks involved with these investments in This is Money. Remember, when you lend, your capital is at risk.
Thousands of businesses have benefited from online lending across the country, such as Funding Circle borrower, Suffolk Canine Creche. This luxurious doggy daycare has lush overnight hotel suites, an on-site grooming spa, training lessons and even a swimming pool! The friendly staff guarantee that your pup will have a fun and enjoyable stay in their care. Candy, founder, was able to move to a bigger premises to keep up with the high demand after borrowing £100,000 from you and other investors. Read the full success story on our blog.
And finally, are you up for a challenge? We recently released an tricky brain teaser puzzle called Brandscape. The aim of the game is to uncover 60 globally recognised brands and companies with cryptic clues. If you answer all 60 correctly, you become a #BrandscapeMaster and have your name added to the Brandscape Hall of Fame. Think you have what it takes? Find out here!