Habito and Atom Bank withdraw UK mortgages; & more!

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NEWS HIGHLIGHT

Habito and Atom Bank withdrew UK mortgages in the wake of Chancellor Kwasi Kwarteng’s mini-budget on Friday that triggered turmoil in the financial markets. They are not alone, with 40% of available UK mortgages withdrawn by lenders. Thousands of borrowers are searching for options to avoid property sales. Link here

FINTECH NEWS

#BreakingNews

Eight US states file individual cease-and-desist orders against Nexo. Nexo Group is a crypto-lending platform. The filings state that the company offered investors interest-earning accounts without first registering them as securities. The orders prevent Nexo from offering this product to residents until it meets the necessary registration requirements. Link here

#Insights

The concept of BNPL in business-to-business. Traditional solutions like invoice factoring and discounting have been used to manage the issue by lending against receivables. Link here

FinTech 2022 Trend Report. Vauban from Carta breaks down the most active investors for potential co-investors and strategy ideas, and segments with the most attention. Link here