Payments processing firm Wirecard (WDI.DE) has commissioned an independent audit of its accounts by professional services firm KPMG. The audit is being performed to address questions related to allegations of improper accounting by Wirecard’s management. The audit will commence immediately according to a statement by… Read More
China’s Internet search giant Baidu will partner with China Citic Bank, part of state-owned conglomerate Citic Group, to launch an online bank, according to the Financial Times. The FT notes that Citic Bank, suspended its shares in Shanghai and Hong Kong on Monday pending announcement… Read More
Peer-to-peer marketplace LendInvest will launch a listed fund, the first such vehicle to focus on property-backed P2P lending, according to the Financial Times. Depending on market conditions, the company plans to launch the fund in early 2016. LendInvest seeks to raise £150m for the float of the fund, listed in London,… Read More
Boost your credit score by social networking and playing online games? Don’t hit the “Back” button–this isn’t clickbait. Instead, it’s what China Rapid Finance, one of China’s largest peer-to-peer lending sites, believes–they’ve just rated 50 million Chinese consumers for creditworthiness using social networking and… Read More
In the UK, more than 100 peer-to-peer lenders have applied for full authorization from the Financial Conduct Authority (FCA), which took over regulation of P2P last year, notes the Financial Times. Nearly 180 companies have interim permission to operate, according to figures obtained from the FCA… Read More
With April’s at-retirement reforms at hand, RateSetter, the UK’s largest P2P platform, is planning to launch into the retirement space with two self-invested pension providers (SIPPs), according to a recent story in the Financial Times. The news comes on the wave of January’s update that RateSetter was nearing a… Read More
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