Banco BNI Europe Starts to Lend on Multiple P2P Lending Platforms

Banco BNI Europa was launched in July 2014 as a digital-only bank in Portugal. Banco BNI Europa says it aims to challenge the traditional banking sector through strategic partnerships with fast-moving fintech businesses to launch new products allowing the use of the most advanced technology in terms of risk analysis, consumer experience and rapid entry into the market.

Today Banco BNI Europe announced it will start lending on Fellow Finance.

‘Modern banks expand and grow by partnerships. Fellow Finance enables and offers an easy access to invest and lend in Nordic and Central European consumer and SME loans through its platform. Through their investment account at Fellow Finance, Banco BNI Europa is able to diversify their balance sheet investment into Finnish and German loans easily and cost-effectively. This is an example that banks don’t need to set up their own expensive operations on ground but can effectively enter markets through marketplace lending platforms. It is also an example how banks can also utilize the presence of FinTech among their core business’ says Jouni Hintikka, the CEO of Fellow Finance.

‘Investing via Fellow Finance in consumer and SME loans offers us a great opportunity to easily expand our operations and we are very satisfied with the analytical and professional approach of Fellow Finance in credit intermediation’ echoes Pedro Pinto Coelho, Executive Chairman of Banco BNI Europa.

Last week BNI Europe announced it will fund German SME loans through Funding Circle. According to Pedro Pinto Coelho, Executive Chairman of Banco BNI Europa, ‘an investment in German SME – the staple of European economic stability – is a highly attractive asset class. And Funding Circle is the professional partner that convinced us with their risk assessment and credit analysis. …’.

To date Banco BNI Europa has struck fourteen fintech partnerships with European fintech leaders across the continent. The bank had 141 per cent growth by the end of 2017 taking its total assets above €500m, and cited its focus on ‘innovative products’ as an explanation for the improved performance.

Zopa Partners With Online Mobile Retailer

P2P lending platform Zopa will finance loans for customers of newly launched online mobiler retailer Unshackled.

Customers can fund the purchase of handsets by taking out a finance deal with Zopa. The APRs on launch will range from 9.7 per cent to 24.9 per cent. Customers will also be able to pay off early at no extra cost or make additional payments.

The partnership is Zopa’s first online retail agreement, with its service integrated in to Unshackled.com sales platform using the Zopa API.

Jaidev Janardana, Zopa CEO added: ‘With the majority of consumers getting a bad deal on their mobile phone, partnering with Unshackled means we can offer consumers better, fairer and more transparent deal in financing their phone.’

Unbolted Partners with H&H Classics

Unbolted logoBritish p2p lending marketplace Unbolted has announced a partnership with car auctioneer H&H Classics. The finance deal will allow auction consignors to access a significant portion of the value of their car or motorcycle well in advance of sale. The supply agreement creates a sale advance facility providing up to 70% of the low-estimate valuation to the consignor where an agreement is struck.

Unbolted lets individuals plus small and medium enterprises borrow against their assets.

The two partners in the project are also developing a new financing solution for buyers to help them capitalise on new opportunities at auction.

Nick Delaney, Business Development Manager of H&H Classics, says: ‘Both types of facility are safe and reliable methods designed to bring liquidity to asset-rich collectors and entrepreneurs, allowing them to move quickly on opportunities rather than missing the boat while negotiating cumbersome and costly credit facilities with banks.’

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ING Partners with Equity Crowdfunding Site Seedrs to Tackle Belgium and Luxembourgh Markets

Seedrs logoING Bank partners with equity crowdfunding service Seedrs and reward based crowdfunding platform Kisskissbankbank to tackle the markets in Belgium and Luxembourg. Through this partnership, ambitious businesses will have a fast-track service for equity crowdfunding on Seedrs. The partnership will also raise the awareness of equity crowdfunding in the wider business community.

During consultations with businesses, ING Belgium representatives will assess which platform may be suitable and discuss how it works. Using the ING fast track procedure it only takes the entrepreneur a couple of clicks to submit an initial campaign enquiry for review. When Seedrs receives a project through this new route, it will be assessed within two days to determine if it’d be a good fit for Seedrs and equity crowdfunding. Continue reading

Funding Circle Partners With H&R Block

Funding Circle LogoThe small businesses who already use H&R Block for bookkeeping, payroll, taxes and other accounting services now have access to a new online service: business loans up to 500,000 US$, thanks to a new referral partnership with Funding Circle, a p2p lending marketplace for small business loans.

Through the partnership, Funding Circle loans are the preferred solution for H&R Block Small Business customers seeking financing to grow.

The new agreement bolsters Funding Circle’s diverse strategic partner ecosystem, which has experienced a 313% growth in monthly originations since January 2015. Other key partners integrated onto the platform recently include Intuit, Tri-Net, LendingTree, Credit Karma, Creditera and the National Small Business Association.

“Funding Circle offers strategic partners across multiple verticals the opportunity to build value-added services by leveraging our core technology, strong underwriting and customer-first approach to deliver unique financing solutions for their small business customers,” said Funding Circle co-founder and US managing director Sam Hodges. “Building a rich and diverse partner ecosystem is a core part of our growth strategy, and we are proud to welcome strong brands like H&R Block onto our platform who share our values and mission to help small businesses grow and prosper.”

“The mission of our two organizations are very similar,” said Jeremy Smith, director of Block Small Business. “We both provide services to small businesses that enable successful, sustainable growth. Given that we do the accounting for service businesses with less than $20MM in revenue, our clients have found it difficult to get loans from traditional banks. Well, Funding Circle specializes in lending to these types of businesses; so now our clients have a go-to source for capital to grow their businesses.” Continue reading

Ratesetter Very Satisfied With Partnership With Mobile Phone Provider

UK p2p lending company Ratesetter says its partnership with mobile operator giffgaff is very successful in driving loan demand. The partnership began in the end of 2013 and allows giffgaff to offer handsets to customers without an immediate upfront payment based on joint credit and fraud management technology.

Ratesetter says ‘The number of giffgaff loans doubled month-on-month in April’. Rhydian Lewis, CEO and Founder of RateSetter, said: ‘Our ground-breaking partnership with giffgaff shows the potential within the P2P sector to power a whole range of consumer services, starting with mobile phones, …’.
A spokesperson from giffgaff, said: ”This initiative has been revolutionary for our member base. We are now able to offer mobile handsets through our website, based on the easy provision of cost-effective loans provided by other members of the public. … ‘.

joinFITE launched by Kiva and Dermalogica

Announcement by Kiva on joinFITE a new microlending platform to fund woman entrepreneurs:

In partnership with Dermalogica and strategic partners, today Kiva.org is launching joinFITE.org to provide microloans to women entrepreneurs in low-income regions of the United States and 56 other countries.
A novel aspect of the campaign is its engagement of retail consumers as microlenders. Dermalogica, for example, will contribute $1 every time a consumer goes to the joinFITE.org Web site and enters a code printed on FITE-themed packaging that the company is using for five of its best-selling products. The resulting micro loan is made available to a designated entrepreneur within hours.
“We know the collective impact of consumer action and socially responsible business practices can create sustainable and far-reaching change,” said strategic partner actress Geena Davis. “Together, we can maximize our effort to empower women and girls around the world.”
So what does that mean for p2p microfinance? Kiva has found a way to combine microlending with product placement. A positive viewpoint on this will be that the codes on the products will invite new people to try the concept of microlending. A negative viewpoint might be that the positive image of p2p microlending is used for branding and advertising purposes.
Anyway: this approach could be copied by Kiva (and other p2p microfinance sites) with more partners/products. As long as the selection of partners is very responsible the p2p microfinance site avoids tainting its image.
Related article with some more background at Fastcompany.

P2P Lending Site CommunityLend Adds Car Loan Cooperation

Communitylend has partnered with Canada’s largest used car site AutoTrader.ca, now offering a car financing option through Communitylend for every listed car.

The option is limited to private listings in Ontario for cars with a sales price of up to 25,000 CAN$.

This is a good partnership for Communitylend as it will profit from increased exposure to potential borrowers.

(Source)

Related Article: P2P Lending With Cars as Collateral

Smava Poland: Cooperation with Financial Consultants as Offline Sales Channel a Success

In October Smava Poland (Smava.pl) entered a cooperation with Euro Finanse, an independent vendor of financial products and services. Smava says the cooperation already yields very positive results. The first three weeks of cooperation brought a 50% growth in loan volume.

Euro Finanse was selected as partner due to it’s sales strength and presence not only in the large cities but with 450 financial consultants throughout the country, says CEO Przemysław Moscicki.

Apart from sales activities the consultants can handle additional tasks like verifying identities of borrowers in person and validating income statements.

To my knowledge Smava.pl is the first p2p lending company to use an offline sales channel to sell the service.