NatWest Takes on with FinTech Firms by Launching Digital Lending Platform
In a bid to respond to competition from FinTech firms U.K.-based NatWest Bank has announced that it is launching a digital lending platform that promises fast loan decisions to compete with services that peer-to-peer firms provide. In a report from Computer Weekly, the NatWest platform, known as the Esme platform, will offer unsecured loans to SMEs of up to £150,000. The FinTech industry is quickly gaining ground on traditional banking services, which is seeing banks ramping up their efforts to keep financial technology companies at bay. By doing so, banks such as NatWest are launching....
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This new regulation is a first step towards supervising the fintech sector in Indonesia. Fintech is a trend that captivates audiences all over the world. A financial technology evolution is upon us, and it is only a matter of time until drastic changes occur. Indonesia is preparing for what the future may bring, by issuing a new regulation for fintech firms. To be more precise, the government focuses on P2P lending first and foremost. One of the many sectors fintech is “threatening” is the way people think about lending and borrowing money. In most cases, consumers and enterprises have to....
A major British bank, Natwest, has put a limit on fund transfers to cryptocurrency exchanges over concerns of fraud and scams related to cryptocurrencies. The bank is also blocking payments to a number of cryptocurrency asset firms. Natwest says the two moves are necessary to protect customers. Natwest Places Limit on Transfers to Crypto Exchanges National Westminster Bank, commonly known as Natwest, is a major retail and commercial bank in the United Kingdom. A spokesperson for the bank told Reuters Tuesday that the bank has capped the daily amount customers can send to cryptocurrency....
Florida-based Fintech company Finova Financial secures record-breaking $52.5 million in funding for auto title lending platform. Largest funding in history of Fintech. Being the first cloud and mobile-based auto title lending service for consumers, Finova secured one of the largest funding rounds in the history of the Fintech industry. Sources of funding include MHS Capital, Refactor Capital, Metamorphic Venture, and 500 StartUps as well as fintech entrepreneurs including Sam Hodges, Co-founder of NerdWallet, Jake Gibson, and a private company in the United Arab Emirates. Led by several....
The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach” toward this technology. Natwest Will Refuse to Do Business With Companies That Accept Cryptocurrencies Reports show that the popular UK-based financial incumbent and wealth manager Natwest is....
In a speech prepared for the Lord Mayor’s Banquet for Bankers and Merchants of the City of London at the Mansion House, Mark Carney, governor of the Bank of England (BoE), revealed that the BoE is launching a fintech accelerator. “I am announcing tonight that the Bank is launching a fintech accelerator to work in partnership with fintech firms on challenges that we, as a central bank, uniquely face,” Carney says in his prepared remarks. “The accelerator will work with new technology firms to help us harness fintech innovations for central banking. In return, it will offer firms the chance....