Fair Market Value
Fair market value is typically defined as the price achievable in an open and unrestricted market between a willing buyer and willing seller, acting at arm’s length, and where neither party are under any compulsion to transact.
Financial Conduct Authority (FCA)
The Financial Conduct Authority is the conduct regulator for 56,000 financial services firms and financial markets in the UK and the prudential regulator for over 24,000 of those firms.
Financial Services Compensation Scheme (FSCS)
The FSCS is the statutory compensation scheme for customers of regulated financial services companies. As a result, the FSCS can pay compensation if a company is unable or unlikely to pay claims against it. Please note, Lendy is not covered by the FSCS.
FinTech (short for Financial Technology) is the term given to the industry made up of financial companies that employ the use of technological advancements to enhance or streamline the consumer experience and disrupt the processes of incumbent financial institutions.