Canada    FinTech Guide    Chapter 7

7. Loan Services / Factoring / Loan Broking / Finetrading
Global Overview

FinTechs belonging to this category act as a loan creditor (for even short and very short term loans), broke loans or receivables or conduct the factoring of loans, which were given to private or business customers. In this business area you will also find “peer-to-peer” (P2P) services, in which FinTechs enable a multitude of users to give loans (which are brokered by the FinTech-platform) to other users or companies.

Finetrading is hereby a financial service of FinTechs, where they buy due receivables and grant the debtor an extension of the payment time.

As an ancillary service some FinTechs offer alternative credit assessment services in order to check the solvency of a borrower.

The following diagram shows the global factoring volume:

Source: FCI Annual Report 2017

Legal and Economic Overview

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Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 August 2019