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Key Takeaways From Lendit Europe 2015

Cloud Lending Solutions was at the recently concluded Lendit Europe in London, and we are excited by what we saw. Alternate Finance in Europe is growing and the interest...

Auke Veenstra 29th October 2015

LendIt-Europe

Cloud Lending Solutions was at the recently concluded Lendit Europe in London, and we are excited by what we saw. Alternate Finance in Europe is growing and the interest in this space is at an all-time high. This was clearly evident at the event where the number of attendees was almost double as compared to last year. Europe is a strategic location for us and we have just opened a new office at Canary Wharf, London.

Our CEO, Snehal Fulzele, gave a demonstration of the new CL Originate solution and introduced the concept of 6-ClickTM lending powered by our powerful origination and auto-decisioning capabilities. We received positive feedback on the speed and flexibility offered by our platform.  Our unique ability to launch our clients quickly and iterate rapidly is seen as a key success factor for the lending platforms launching out in new markets.



Snehal-LendItWe were excited to speak with several stakeholders in the alternative finance ecosystem, including investors, originators and service providers. We saw a shift in the focus on managing risk in the platforms, moving beyond just credit/delinquency to operational risk and security. With the FCA/PRA enforcing strict regulations on account segregation and client money management, UK based platforms need to have a management system that ensures compliance and risk management.



Recently, we have seen platforms crashing due to malpractice and lack of transparency. Investors and institutions want to back those platforms that leverage technology to provide visibility in their operations. A high level of transparency gives investors the confidence to invest in these lending platforms. Cloud Lending Solutions provides this technology solution, offering automation and agility to simplify operations and workflows.



Richard Horne, from PwC, gave a talk on security and talked about the enterprise approach needed to manage digital risk. He spoke about how to manage breaches, and the steps involved including technical resolution, legal and regulation management and business management. We interacted with several CEOs and Founders who were from legal or business backgrounds, and realized that technology remains their biggest concern especially as they scale up their operations and become more prone to targeted attacks. Cloud Lending can help these lenders scale with ease as we are built on one of the foremost platforms in the market with over $1 billion invested in its security.



Overall it was great to meet our partners in the ecosystem and see that the focus is shifting from “explosive growth” to a more rational and measured risk-based approach. We believe that our technology will alleviate a lot of the issues being faced in the industry right now, and remove the risk and technology barriers that hinder our clients. Cloud Lending Solutions is excited to be a part of the alternative lending sector, and is committed to contributing to its growth.


Resources

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EVENTS

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