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Saxo Markets recently hosted an event focusing on the future of trading and financial markets at The British Museum. We went along to hear about how technology is disrupting this market, its challenges and opportunities, and what it means for the consumer.
Matteo Cassina of Saxo Markets outlined some of the changes in the market since the financial crisis. There is increased competition, tighter regulation and recognition that overcapacity and inefficiency are present, but being weeded out.
Value is the pressure point on the market. There is pressure on pension funds for example to find yield in a record-low interest rate environment. Tellingly, Dr Robert Barnes of Turquoise said 50% of people who have ever lived to 65 are alive today.
The speed of demographic change is posing a huge challenge to fund managers, who naturally are looking at ways to meet the needs of their customers as those drawing a pension live longer. It seems inevitable that where funds cannot find value they will either have to turn to new products or exit the market, such is the scrutiny on fees and low returns.
We like to cover all kinds of crowdfunding in our blog, so here is a story that might give you food for thought if you’re looking at raising cash for your business through the crowd – a loan isn’t your only option…
John McLeod formed The Professional in 2013. It is a publication dedicated to the Leeds business scene and is an example of a throwback to a regional news agenda that was almost eradicated as pressure on traditional newspapers by the internet grew at the turn of the century. rebuildingsociety can see the potential of the business and has supported it since the start with advertising and editorial contributions.
John said: “The Professional was created as a result of me being on the enterprise scene in Leeds for the past 4 years. During that time I met some amazing business people with great stories to tell. There weren’t any regional business publications creating content in a feature led format, and I believed by telling these stories they could inspire others to go and achieve success also.
We’re pleased to see that Government has announced a new consultation for allowing peer-to-peer lending investments to be included in a NISA wrapper. The deadline is 12 December and we thought we would share the press release issued yesterday.
We’re excited by the development because it means lenders get a better deal and once we’ve been given a clear steer on rules and guidance, we’ll create a rebuildingsociety ISA. As an industry, we’re still lobbying for the ability to offset losses against tax too, although this is likely to be a longer process.
A new thread has been created on the rebuildingsociety section of the p2p independent forum for you to post your views, which we will consider before we respond, either individually or with the UK Crowdfunding Association, which we’re a member of.
We often see the alternative finance industry pitched as a direct threat to the banks – but do the banks themselves feel threatened?
The answer – according to a new survey from Swiss banking software company Temenos – is yes. But it’s not just alternative finance platforms that have shaken up the financial world. Temenos surveyed 198 senior banking professionals from across the globe. 23% of these respondents consider massive online companies like Amazon and Google to be their greatest threat – whereas only 20% thought that of rival banks.
Many a peer-to-peer lending advocate will be nodding along at the news that 30% of respondents cited a weakening allegiance to the banks among customers as their biggest challenge. Peer-to-peer lenders are one the key groups that are dragging these disillusioned users away from the banks. And the banks are aware of the threat. 67% of respondents to the survey expected IT spending to rise in the near future.
A Yorkshire-based sweet company has expanded its product range after raising £50,000 from investors.
Candy Hero, a sweet importer and retailer with stores in Bradford, York and Leeds, raised the finance with a loan from peer-to-business lender, rebuildingsociety.
The cash was used to increase the company’s stock of candy, which is imported from around the world, after a surge in demand from customers both in store and online.
It’s very much exhibition and events season, so here are some dates for your diary if you want to come and meet members of the rebuildingsociety team – tell us we’re doing a fantastic job, or if you’ve got gripes or suggestions. We’re an online business, but it’s always rewarding to meet people face to face:
8 October, Harrogate – Brand Yorkshire Exhibition
16 October, Leeds – NACFB Breakfast Seminar
17 October, London – Alternative & Receivables Finance Conference
5 November, London – The Finance Professional Show
If you’re in the North of the UK, the Leeds office is always happy to accept visitors. We have team members based in London too if you would rather meet for a coffee there.
rebuildingsociety is often approached for help with loans for start-ups. While we would love to help, we’re not set up to help – legally we’re not allowed to do loans below £25,000 at the moment – and our investor base is committed to lending to established businesses.
However, in the spirit of collaboration, we’ve connected with Startup Direct to refer businesses that are too young for our 2 year threshold.
Startup Loans, which provides the funds, is chaired by ex-Dragon James Caan and loans are backed by the Government.
Here are some of the great features and benefits offered:
Funding – Get up to £25,000 funding to launch your business at a low, affordable interest rate (6.2% APR) over 1-5 years.
Mentoring – Twelve months free expert mentoring with monthly sessions with an experienced local entrepreneur or business consultant.
Rob Star would not have been able to open his latest pub without the support of rebuildingsociety’s lenders. In his own words, Rob describes why he is taking his business away from the banks and how the crowd helped him move quickly to purchase and launch his latest venture.
Get down to The Jackdaw and Star and see for yourself!