China’s CredEX Fintech lending app surges past $4.3bn mark

China-based CredEX Fintech says its mobile lending app’s total credit extended has exceeded CNY 30 billion ($4.3 billion) since its launch ten months ago. According to the firm, its user base has gone beyond five million, daily credit has been extended up to CNY 100 million ($14.4 million), and the average credit extended stands at […]

LendIt USA: the British are coming

Fintech is developing a distinctly British accent and the US is in danger of losing out, according to remarks made by Congressman Patrick McHenry, a member of the House Financial Services Committee, at the LendIt USA conference in New York.

China’s Chained Finance brings blockchain boost to SME funding

Chinese fintech firms Dianrong and FnConn have launched Chained Finance, the “first-ever” blockchain platform for supply chain finance. According to the pair, supply chain finance companies have been limited by existing technology and, to date, have only served about 15% of suppliers needing financial resources. They claim the vast majority of the 40 million SMEs […]

LendIt USA: $400 from disaster

A startling 46% of American adults would be unable to come up with $400 to meet an unexpected expense without borrowing or selling something. We are so used to thinking about financial exclusion in terms of the un- or under-served that we are overlooking the financial vulnerability of nearly half the US adult population.

Former Infosys top exec launches lending start-up

A former Infosys senior exec and venture capitalist has unveiled his new India-based lending start-up, Billionloans. V Balakrishnan, formerly in charge of BPO, Finacle and India business units at Infosys, has founded the firm with Rangan Varadan. The latter is also CEO of Indian peer-to peer microcredit firm MicroGraam – and Balakrishnan is an independent […]

Bharti Airtel acquires stake in online credit platform

Bharti Airtel, through its subsidiary Bharti Airtel Services, has acquired a stake in Seynse Technologies, an India-based fintech start-up. In a regulatory filing to the Securities and Exchange Board of India, the telecommunications company revealed that it was interested in the firm’s digital lending platform, Loan Singh. The solution provides loans to “credit-worthy yet underserved” […]

El Taamir goes live on Intellect lending suite

Egypt-based El Taamir Mortgage Finance Company has gone live on Intellect Design Arena’s lending suite. Intellect says the implementation was completed in seven months including data migration. The suite equips El Taamir with automation of regulatory reports for the central bank as per Egyptian mortgage laws and generation of receipts for cash payments. Hassan Hussein, […]

TSB picks Iress for mortgage tech upgrade

TSB has chosen Iress’ mortgage sales and originations (MSO) solution – with the first deployment due to be rolled out to TSB’s intermediary channel in the summer. Branch, telephony and digital will follow in a phased rollout at unspecified times. Ian Ramsden, mortgages director, TSB, says Iress is a “natural fit to support our technology […]

How to make a success out of blockchain

There is pressure for CEOs to decide how distributed ledger technology (DLT) fits into their business strategy. Regulators also recognise that blockchain could advance their own processes. So what is all the excitement about? Blockchain is an exciting innovation but the technology has flaws…

NatWest debuts digital platform for SME lending

NatWest (part of the RBS group) is set to launch a new digital platform to allow small and medium sized businesses (SMEs) to quickly obtain unsecured loans of up to £150,000. Called Esme Loans, it is in trial mode and the bank will offer fast decisions on lending applications “potentially within an hour”. There will […]

US start-up Zikher launches online lending platform

San Francisco-based fintech start-up Zikher has unveiled its Software-as-a-Service (SaaS) platform for online lending as it targets small banks’ and credit unions’ business. Mortgage and loan applications are done online and take 15 minutes to fill out. Customers can access their application to get real-time information about their loan or mortgage and talk to a […]

AnaCap to acquire €177m loan portfolio from Barclays

Private equity firm AnaCap Financial Partners will acquire a portfolio of Italian performing and non-performing corporate secured loans from Barclays. The portfolio, which has a gross book value of €177 million, comprises loans to primarily small and mid-sized corporates secured against real estate located mostly in the north of Italy. The agreement follows AnaCap’s Credit […]

Dubai ponders regulatory framework for loan-based crowdfunding platforms

The Dubai Financial Services Authority (DFSA) has issued a consultation paper, “Crowdfunding: SME Financing Through Lending”. The paper proposes a regulatory framework for anyone looking to operate a loan-based crowdfunding platform in the Dubai International Financial Centre (DIFC).

FinTecSystems fuels Smava automatic credit system

FinTecSystems, Fidor Bank and credit comparison site Smava have teamed up to offer the “first fully” automatic credit system with an “immediate payout” in Germany. Called Kredit2Go, the entire process of requesting, processing and disbursement is digital, and the payment is made immediately after the digital signature. FinTecSystems provides the “building blocks” for the credit assessment […]

Berlin-based online lender Spotcap starts operations in New Zealand

Spotcap, an online lending company headquartered in Berlin, Germany, has announced it is now operating in Auckland, New Zealand, as a registered financial services provider and is accepting applications for credit of up to NZD 250,000 ($182,000) from eligible businesses.

Nava Finance gets UK regulatory OK for lending

Nava Finance has been granted approval by the UK’s Financial Conduct Authority (FCA) to begin offering personal loans to consumers. The company says it is now focused on working towards an initial launch date, which will be announced when all testing and other preparations are fully completed. Nava sources loan funding from institutional investors and […]

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