Banco BNI Europa has started to invest in loans via the Fellow Finance platform.
The partnership between the Portuguese Bank and the crowdfunding platform will allow Banco BNI Europa to be present on the Nordic and central European consumer and SME loan markets.
Banco BNI Europa's new partnership follows its recent agreement with Funding Circle to support SMEs in Germany.
“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,” said Pedro Pinto Coelho, executive chairman at Banco BNI Europa (pictured above).
Banco BNI Europa has developed 14 fintech partnerships with European fintech companies and reported growth of 141% by the end of 2017, taking its total assets to more than €500m.
Jouni Hintikka, CEO at Fellow Finance, said that modern banks expanded and grew by partnerships and its platform offered an easy route to invest and lend in the Nordic and central European consumer and SME loan markets.
“Through their investment account at Fellow Finance, Banco BNI Europa is able to diversify [its] balance sheet investment into Finnish and German loans easily and cost effectively.
“This is an example that [shows] banks don't need to set up their own expensive operations on [the] ground, but can effectively enter markets through marketplace lending platforms.
“It is also an example [of] how banks can also utilise the presence of fintech [with] their core business.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
five degrees plans to expand into North America
Fintech firm five degrees has revealed plans to expand its operations into North America...
How can specialist banks continue to embrace difference?
Everyone’s different — and with big banks not geared up to meet the specialist challenge, the opportunity for smaller lenders is clear. But as the market evolves, how do we keep up?...
Precise Mortgages adds capital raising to Help to Buy offering
Precise Mortgages has enhanced its Help to Buy offering through the addition of capital raising...
Unity Trust Bank and Triodos Bank funding package supports opening of new Surrey care centre
Unity Trust Bank has provided funding to the Whiteley Homes Trust for the delivery of the latter’s Eliza Palmer Care Hub in Whiteley Village, Surrey, which will positively impact as many as 500 vulnerable individuals...
Could the Spotify of banking be closer than we think?
Spotify cracked the music market wide open because it understood exactly how people wanted to use music; what will it take for banking to do the same?...
Arbuthnot Banking Group loan balances grow by 33%
Arbuthnot Banking Group has announced that its loan balances have grown by 33% compared with the previous year in its update on trading for the three months to 30th September 2019...
British Business Investments supports over 34,000 SMEs
British Business Investments has announced that it is supporting over 34,000 SMEs across the UK, an increase of 28% on the previous year...
A spotlight on BTL
At Investec Private Bank, we are seeing a continued demand for BTL mortgages with clients taking advantage of low interest rates to make their portfolios more efficient...
Tide names new chief technology officer
Tide has recruited Guy Duncan (pictured above) to its executive team as its new chief technology officer...
OakNorth Bank lends £650,000 to Casa Italia
OakNorth Bank has provided a £650,000 loan to Liverpool-based, 160-cover independent Italian restaurant Casa Italia...
First year of home ownership can bring with it unanticipated ‘financial challenges’
Aldermore’s First-Time Buyer Index has highlighted the importance of understanding the extra costs of owning your first home...