At the Crossroads of Law, Innovation and Commerce
If you’re interested in the industry view from London, how about listening and subscribing to London FinTech Podcast? It provides access to many of the leaders in the London FinTech space and provides podcasts discussing topics including start up and emerging growth, marketplace lending, crowdfunding, alternative currencies, payment systems, equity funding, invoice finance, investment and the existing financial services response to FinTech innovations.
By Cameron Abbott and May Giuliani
Investment in fintech systems is becoming increasingly popular globally, but no more so than it is in the UK. Deal volumes in the UK have been growing at 74% per year since 2008 (compared with 27% globally). This digital disruption marks the most major period of change for financial services companies in decades.
According to recent data, the UK alone accounted for $901 million of the $12.5 billion invested in fintech worldwide last year. Five other European nations combined for $1.1 billion. This huge investment in the UK included two of the top 20 fintech deals in the world – Challenger Bank Atom raised $125 million, and peer-to-peer lending platform Funding Circle raised $150 million. Over 60% of fintech venture capital investment investments in 2015 were made into alternative finance and payment services such as Funding Circle, Currency Cloud and Transferwise.
See here for The 2015 Fintech Investment Landscape, February 2016.
By Tony Nolan, Joseph Valenti, and Christopher Bell
The online marketplace lending industry has experienced substantial growth in the past few years. Its share of the global lending market is predicted to continue its increase. In the United States, regulators are starting to take notice.
The first major sign of interest came from the U.S. Treasury. On July 16, 2015, it issued a Request For Information to better understand the impact of online marketplace lending on small businesses, consumers, and the broader economy.
By Tony Nolan
Once again K&L Gates will be sponsoring the IMN ABS Vegas 2016 conference, which will take place at the Aria Resort & Casino in Las Vegas Nevada from February 28 through March 2, 2016.
This is the first year that online lending will be an important focus of attention at ABS Vegas, in testament to the growth of an important new asset class. This will permit K&L Gates to highlight our practice in the converging areas of Fintech, Marketplace Lending, Securitization and Structured Finance and Consumer Financial Services Regulation
Visit our exhibition booth and get cool stuff!
By Jim Bulling and Michelle Chasser
The Australian stock exchange ASX has announced that it has partnered with a US-based firm to develop distributed ledger technology, more commonly referred to as blockchain. The ASX is planning to develop the ledger technology for post-trade services such as clearing and settlement of the cash equities market. Unlike the bitcoin blockchain which operates as a public ledger, the ASX will use a private network which will only allow parties with permission from the ASX to participate.
By Jim Bulling and Michelle Chasser
The Australian Federal Government is getting behind the Australian FinTech market with the establishment of a FinTech Advisory Committee to help make Australia a FinTech leader in the Asia Pacific region.
K&L Gates partner Anthony Nolan (NY) will participate in a panel discussion on Marketplace Lending at the American Bar Association’s 2016 Spring Meeting in Montreal, Canada on Saturday April 9.
By Tony Nolan
On March 10, 2016 at 8:30am the London office of K&L Gates will host a Breakfast Roundtable on the US Regulatory Landscape for Marketplace Lending. The Roundtable will cover a range of topics that are relevant to entering into the US market, focusing particularly on ways to facilitate a broad distribution of investments.
New York partner Anthony Nolan and London partner Jacob Ghanty will lead a discussion of how US regulatory and compliance issues may affect UK lenders and investors that are considering entering the US online / P2P / marketplace lending market.
By Jim Bulling
The banking industry is expressing overwhelming support for the development and use of new technologies to improve the banking experience and have expressed their desire to enter into partnership with Fintech businesses.
By Cameron Abbott and Meg Aitken
Chinese regulators launched a website on Saturday to aid authorities in their mission to investigate the gigantic Ezubao “Ponzi scheme” that allegedly stole money from more than 900,000 investors.
Ezubao, China’s largest peer-to-peer lender, was caught red handed fabricating the majority of its listed investment projects and using investor money to fund the extravagant lifestyle of the company’s executives earlier this month.
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