Peer-to-peer lender Ratesetter has partnered with with self-invested pension providers London and Colonial and European Pensions Management to allow Sipp holders to lend within their pension tax wrapper.
Over 19 per cent of Ratesetter’s customer base are in retirement age, the company’s co-founder Rhydian Lewis says, and many of them have Sipps.
As the pension market moves away from traditional traditional conventional annuity options, Adam Wrench, head of product at London and Colonial added, peer-to-peer lending is likely to play a larger role. Previous rules required providers to hold higher levels of capital for non-traditional investments, FT Adviser reported.
Sipps and drawdown contracts are now much more flexible, meaning that investing pensioners can now hunt for newer, high yielding options.
“As with any investment there are risks but they add to the options that a SIPP member might include in a diversified SIPP portfolio and we welcome the safety net that RateSetter has created to manage loan interest and capital defaults,” said Francis Moore, chairman of European Pensions Management.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.