fintech digest
Recession Impact on BNPL, UK SME Action Plan, Tokenised Trading And More
Research Team
9 August 2024
How would a recession impact BNPL lending?
If a sharp stock market selloff and soft jobs report lead to a recession, that could create both opportunity and peril for the buy now/pay later fintech apps that have become a major player in the consumer credit industry.
Banking and financial services Taskforce delivers SME action plan to boost UK economic growth
The SME Finance Taskforce, a group of leading banks, alternative lenders, fintechs, accountancy software providers, payment schemes, credit reference agencies and industry bodies, has developed an action plan to energise the UK economy. The plan will speed up lending and access to finance for 5.5 million SMEs, which employ 60% of the private-sector workforce and deliver over 50% of UK economic turnover.
Neobanks bet on direct deposits to keep fickle consumers sticky
For platforms and neobanks, establishing direct deposits with end users offers an on-ramp to cross-selling opportunities and a wealth of additional revenue streams.
The momentum has been underscored in recent earnings reports and announcements surrounding new products and services.
Can tokenisation narrow the global trade finance gap?
As tokenised assets move beyond the realm of blockchain and decentralised-finance start-ups and into traditional finance, mainstream lenders are ramping up experiments with the tokenisation of real-world assets in a bid to drive adoption and open up new markets.
‘Don’t get left behind’—Crypto suddenly braced for a ‘Game-changing’ Trump bombshell after wild Bitcoin, Ethereum, Solana And XRP price swings
Bitcoin along with other major cryptocurrencies ethereum, solana and XRP—has swung wildly over the last week as traders brace for a major BlackRock bitcoin exchange-traded fund (ETF) earthquake.
The bitcoin price and the wider crypto market were caught up in a huge stock market sell-off this week as traders panic about global interest rates—with Coinbase warning of further pain to come.