General News

April 22, 2020 @ 3:57 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the news that LendingClub (NYSE:LC), the largest Fintech consumer lender in the US, was furloughing and eliminating jobs due to the COVID-19 pandemic. The crisis has apparently driven the elimination of 471 individual jobs. Shockingly, LendingClub’s President saw his position eliminated…. Read More

April 22, 2020 @ 2:46 pm By Samantha Hurst  |  

Citizens Bank of Edmond announced on Wednesday it has teamed up with MX, a bank, credit union, fintech digital platform to launch a new Paycheck Protection Program (PPP) loan portal for the bank’s small business customers. According to Jill Castilla, President and CEO of Citizens Bank… Read More

April 22, 2020 @ 1:10 pm By Samantha Hurst  |  

Paysafe Group, a global payments provider, announced on Wednesday it has achieved CarbonNeutral Company status. This announcement comes on the 50th anniversary of Earth Day. Paysafe reported that the status is part of its ongoing commitment to the environment and has also been backdated to… Read More

April 22, 2020 @ 11:01 am By Samantha Hurst  |  

Lendsmart and Griffin Technologies, two U.S. fintechs that are building software for banks and credit unions, announced on Wednesday they have partnered to provide their customers a complete end-to-end solution for the Paycheck Protection Program (PPP), which was created under the original CARES Act following the COVID-19… Read More

April 22, 2020 @ 10:01 am By JD Alois  |  

Rangewell, a firm that works with UK SMEs and their advisors to help them find, compare, and apply for business finance, has published another 0pen letter directed to Chancellor of the Exchequer Rushi Sunik. Late last month, Rangewell published a different open letter addressing the… Read More

April 22, 2020 @ 9:00 am By JD Alois  |  

The World Bank says that global remittances have sunk a whopping 20% in 2020 due to the COVID-19 crisis. The projected fall is the sharpest decline in recent history. The cause is due to the rapid decline in wages and employment of migrant works that… Read More

April 22, 2020 @ 7:51 am By Samantha Hurst  |  

UK-based payments platform GoCardless announced on Wednesday it has launched its first payment intelligence product, Success+ to help businesses tackle the problems caused by failed payments. According to GoCardless, Success+ uses machine learning to analyze trends from GoCardless’ recurring payments data and identify the ideal time… Read More

April 21, 2020 @ 11:37 pm By Omar Faridi  |  

UK-based company, For Good Causes, has officially launched its services, which allow people to convert their loyalty points and rewards into a digital charity donation. UK-based charity organizations have begun to experience a significant increase in the demand for their services, following the deadly Coronavirus… Read More

April 21, 2020 @ 9:34 pm By Omar Faridi  |  

Transcorp International, an established foreign exchange (Forex) and payment services provider, has received approval from the Reserve Bank of India (RBI) to enter co-branding arrangements for performing prepaid transactions. The prepaid payment services will be available at thousands of Indian stores and digital commerce websites…. Read More

April 21, 2020 @ 5:26 pm By JD Alois  |  

The US Senate has unanimously approved more funding for the Paycheck Protection Program (PPP) created under the original CARES Act that was tapped dry several days ago. The approval by the Senate now queues up a vote in the US House of Representatives later this… Read More

April 21, 2020 @ 3:39 pm By JD Alois  |  

  The Securities and Exchange Commission (SEC) has filed fraud charges against Steven L. Brickner of South Florida. Brickner allegedly committed fraud in relation to $5.5 million raised to invest in Cannabis-related companies including one called “High Country” in Colorado. According to the SEC, Brickner… Read More

April 21, 2020 @ 1:54 pm By Samantha Hurst  |  

Funding Xchange (FXE), a UK-based fintech that helps people and organizations find suitable business loans and funding options from its marketplace of more than 45 established lenders, announced on Tuesday it has formed a new partnership with Experian to launch an online service for banks… Read More

April 21, 2020 @ 10:38 am By Samantha Hurst  |  

Switzerland based Fintech Incubator & Accelerator F10 announced on Tuesday 12 startups that have been selected for the first Batch of the Scaleup Program. According to the accelerator, more than 80 teams with market traction and revenue generation from various countries had applied to become… Read More

April 21, 2020 @ 10:12 am By JD Alois  |  

On April 19th, Mindao Yang, founder of dForce, confessed that $25 million crypto had been stolen from his platform. In a blog post, Yang said Lendf.Me, the lending protocol of dForce, was attacked and a vulnerability was exploited to steal the digital assets. Today, it… Read More

April 21, 2020 @ 9:14 am By Samantha Hurst  |  

Ireland-based fintech Fenergo announced on Tuesday it has joined forces with IBM (NYSE: IBM)  to fight financial crime. The duo signed an original equipment manufacturing (OEM) agreement that will allow the companies to collaborate on solutions that can help clients address the multitude of financial risks they… Read More

April 21, 2020 @ 7:52 am By Samantha Hurst  |  

Barclays announced on Monday it has opened up the Coronavirus Large Business Interruption Loan Scheme (CBILS) to help large corporate banking clients that are impacted by the COVID-19 pandemic. Barclays reported that through the program, which is backed by a UK Government guarantee, it will… Read More

April 21, 2020 @ 12:32 am By Omar Faridi  |  

Economic activity in Indonesia has slowed down significantly following the deadly Coronavirus (COVID-19) outbreak. According to local reports, some businesses in the trillion-dollar economy have shut down completely. Peer to peer (P2P) lending platforms are also experiencing major challenges, which include having to deal with… Read More

April 20, 2020 @ 3:46 pm By Samantha Hurst  |  

Branch, a U.S.-based insurtech startup, announced on Monday it is set to give back 15% of monthly insurance premiums to its auto policyholders in response to the COVID-19 pandemic. According to Branch, the compassionate initiative recognizes clients’ reduced driving due to shelter in place orders… Read More

April 20, 2020 @ 2:39 pm By Samantha Hurst  |  

Cryptocurrency platform Coinbase has reportedly appointment former Head of Digital at Barclays, Brett Tejpaul as its new Head of Institutional Coverage. According to Coinbase, Tejpaul spent 17 years in global leadership roles in both the UK and U.S., including Global Head of Sales (across all… Read More

April 20, 2020 @ 12:39 pm By Samantha Hurst  |  

Rapyd, a global B2B Fintech as a Service provider, announced on Monday it is set to acquire Korta, an Iceland-based payment card service provider. Rapyd reported the acquisition provides Rapyd with online acquiring and point-of-sale (POS) capabilities as the company grows its worldwide footprint.  While… Read More