New payday loan regulations come into force today, requiring all online lenders to advertise on at least one price comparison website and display ‘prominently’ a link on their own websites to a price comparison site. The move follows an investigation by the CMA,...
4thWay has warned that ‘easy access’ accounts offered by peer-to-peer loan platforms do not guarantee to return money quickly. The research company believes it could be less risky for investors to tie their money up for longer in a fixed-term deal offering higher...
NewDay has reported that its lending grew by 32% in 2016, with 1m new customers borrowing. Meanwhile, Enova, the owner of lending sites including QuickQuid, said it had seen 16% growth in Q1 2017 compared with a year ago. News of increased lending by companies that...
Oakam has incorporated gamification into a new app to help improve borrowers’ repayment rates and reduce costs. Borrowers can earn points when making repayments on time via the app, watch short videos on financial behaviour and refer friends to the loan provider. The...
Tesco Bank has defended its decision to launch larger loans of £25,001 to £35,000, saying they are subject to a ‘robust affordability assessment’, after The Daily Mail suggested it had ‘spearheaded a consumer borrowing binge over the past year’. The bank’s total...
Highlights for Digital Investment this week Standard Life has said it is exploring robo-advice tools as part of its plans to expand the Elevate platform. P2P Global Investments, the UK’s first peer-to-peer loan fund, is to review its investment manager. Currently, the...
