The UK’s Financial Conduct Authority approved new rules for the p2p lending market that many think will weed out weaker lenders and those who have yet to reach scale; “People have had their chance to grow their business to a decent scale. That chance has gone now,” said Stuart Law, Chief Executive of Assetz Capital, to the FT; the new rules limit the amount investors can put into p2p lending and have added an appropriateness test; “We think what is going to emerge is a much stronger industry where there is less doubt; fewer players but probably stronger players with a bright future,” said Rhydian Lewis, Chief Executive of RateSetter, to the FT. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.