Tech & Tonic: Ripple makes waves while big banks tread water

 

What's been happening in the world of fintech this week? Glad you asked. Pour yourself a glass of something nice and read on.

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Float for Funding Circle
Funding Circle, the UK's biggest peer-to-peer lending platform, is preparing to hire advisers to oversee a £1bn-plus London flotation. Sky News reported that the company has told investment banks it will hold a beauty parade towards the end of the first quarter of 2018, with a listing possible as soon as the late autumn.

Ripple makes waves
The market value of Ripple, also known as XRP, rose more than 50% as markets closed last Friday (Dec 28), to a record £63bn. Ripple continued to climb over the weekend, the Guardian reported, peaking at over £74bn, surpassing Ethereum (£53bn) as the second most valuable cryptocurrency after Bitcoin.

Big banks set to miss Open Banking deadline
Five UK banks have been given more time by the Competition and Markets Authority (CMA) to comply with Open Banking regulations, according to City AM. Barclays, Royal Bank of Scotland (RBS), HSBC, Santander and Bank of Ireland appealed to the CMA for a delay to the January deadline.

Due some credit
US-based fintech firm, Nova Credit, which helps immigrants build a credit history, has been named among other fintechs as a 'one to watch' according to Financial Innovation Labs, which is an initiative between the Financial Services Innovation Centre and JP Morgan Chase. 

Pointless predictions
Fancy something more lighthearted with your Tech & Tonic? Antony Peyton, Banking Technology's deputy editor, has made his so-called 'pointless' predictions for 2018. They are funny.

Did we miss any?