Once upon a time P2P was a simple thing. Now it’s more accurate to see it as online lending and borrowing. Models vary, regulation varies, the most successful platform was started by a bank, direct lenders have wholesale flows in funding retail or corporate outflows, others have just retail funds and others mixed.
Quite a complex state of affairs and in this episode Christian Faes joins us for a wide-ranging conversation about where this all came from, where it is and where it is going.
Lendinvest itself is no longer a P2P in the current definition but an online investment platform which is itself only one of their many channels.
Conrad was on the show back in LFP020 since when he has built Funding Options (strapline “your free marketplace for business finance”) into one of the most successful London Fintechs. They were chosen as one of three UK government mandated SME Referral Portals, are the largest of those by an order of magnitude, increased revenue fourfold last year, are on target to triple again this year as well as being on target to be the UK’s largest introducer of working capital finance.
Funding Options essential task/service is lining up all the many SME borrowers out there with relevant sources of Finance. A task made all the harder by the plethora of lenders and the many types of lending finance available.
Twenty or so new banking licences have been granted since 2010. The UK Retail Banking Sector is incredibly diverse but this is often disguised by the single label of “Challenger Banks” which hides far more than it reveals. UK Retail Banking is a very diverse sector with players with very different focuses and motivations.
In compiling their report “Who Are You Calling A Challenger Bank?”, PwC has interviewed dozens of CEOs and senior executives and, worked with YouGov to establish consumers’ views and preferences. In doing so they have produced a grounded, well-researched analysis (it’s free – check it out) that sheds light on how competition is improving customer choice and driving innovation in UK retail banking.
Darren Meek has 26 years at PwC and joins us today in conversation about the must-know, main important themes of the vibrant scene that exists today.
2016 is the year Fintech realised it had to aim for making a profit. Very few do and for the tiny handful that do its mostly “minimal”. Solving this problem is absolutely vital for the Fintech revolution. This is the story of a Fintech that has done just that – satisfying customers, staff and shareholders. Blue Motor Finance has gone from 12 to 100 staff, 0 to 40 people “on the road”, £0 to £200+m loans, and £0 to seven-figure profits in just two years. A phenomenal achievement, and by a firm not widely known in the broader Fintech world.
So listen up and find the real secrets of balanced Fintech success as CEO and founder Bob Jones shares how a lifetime’s lessons (having been in asset finance for over 50 yrs) has enabled him to reach these goals.
Bob has been a CEO of some big companies, many of which he turned round. An management buy-in provided a bridge from the top roles in BigCo to starting from scratch and leveraging all that experience.
After organising nearly 1,000 folks in the O2 for Europe’s largest P2P conference ever I managed to grab Peter long enough to have a fascinating tour of the globe and P2P sitrep in the three major hubs.
Peter Renton has perhaps has more of a broad and deep understanding of P2P worldwide than anyone.
When he first came on the show way back in LFP015 he shared with us the fascinating history of US P2P with its hugely up and down roller-coaster road.
Since then he has created the world’s go-to conferences on P2P in the US, China and Europe which gives him a unique insight into what’s what and where.
It’s a big world and P2P is a vast domain these days so there is plenty to discuss. Key topics are: Continue reading →
In episode 40 it’s a good time to turn to the response of the banking sector (used here as a proxy for all FS incumbents) to the Fintech revolution – both Fintech’s #newFS and its #newTech/#newIT side.
I couldn’t think of anyone better to discuss this with than Anna Irrera who is perhaps the only full-time journalist working on Fintech in London. She spearheads the Fintech section of what is now the Financial News but was decades back when I recall getting the first edition the London Financial News, now owned by the Dow Jones Group.
FN also has a quarterly fintech-focused publication Fintech News, Specific areas of focus within fintech include: alternative finance, blockchain, big data, robot advisory, cyber security, trading platforms and digital payments systems.
Anna is well known in London FS on both the Fintech and #oldFS sides of the current divide and always talks from the perspective of speaking to the miners at the coalface rather than the warmth of the press office.
The road goes on forever – the next Lendit is already lined-up
I am delighted to be joined by Peter Renton to discuss some key highlights from the Lendit Europe 2015 conference, especially for those of you who weren’t there and even for those of you who were as in the afternoon it split into two streams.
Peter was back on the show in LFP015 way back in last December wearing his Lend Academy hat relating to us the amazing story of the development of P2P in the US – something he saw from it’s very origins when it was scarcely noticed.
Today he is joining me wearing his Lendit Conference hat. Lendit now runs by far the world’s largest P2P conferences – some 2,500 in Lendit US 2015, 500 in Lendit China 2015 and yesterday around 750 in Lendit Europe.
In this episode we have an off-the-cuff conversation about what leaps out to us as the really interesting things happening in P2P in Europe right now. It’s a great way to get up the curve fast and we discuss a wide range of topics: Continue reading →
I am delighted to be joined by Chris Rieche CEO and co-founder of iwoca. Iwoca is a Fintech lender but not a P2P. They raise finance and then can lend it out themselves – a direct lending model which has many advantages as we will hear.
iwoca lends up to £100k to small businesses in the UK, Poland, Spain and Germany at rates varying from around 13-40% p.a and has around 100 employees in London.
It has also this year made a landmark partnership with the giant Alibaba to offer a trade finance product and raised £20m in equity capital this year.
Chris and co-founder and CTO James Dear founded iwoca in 2011 right back in the early days of the Fintech lending movement.