Linked Finance moves into UK market
Peer-to-Peer (P2P) lending platform Linked Finance has received full authorisation by the UK’s Financial Conduct Authority (FCA) which will enable it to move into the UK market. The approval comes as the Department of Finance initiates a public consultation process on the potential introduction of regulation of the P2P sector in Ireland.
The authorisation means that the company, which has to-date facilitated more than 870 loans, is well positioned should the Irish Government decide to introduce regulation of the sector in Ireland.
“I am very pleased that we have secured full FCA approval. It puts us ahead of the curve in terms of preparing for any regulation of the sector in Ireland. It also demonstrates to lenders and borrowers here at home that Linked Finance operates to the highest standards,” Niall Dorrian, CEO of Linked Finance said.
Currently, the company said that it is managing its business to meet international best practices introduced in the UK market. The company said that the FCA authorization is validation of that fact, and it demonstrates that Linked Finance has implemented best-in-class management and controls processes.