General News

March 24, 2020 @ 3:50 pm By Samantha Hurst  |  

UK-based online lending platform LendInvest announced its latest update regarding the deferments of BTL payments during the COVID-19 outbreak. According to the online lender, landlords with a LendInvest mortgage who believe they will have genuine difficulties making their payments as a result of the COVID-19… Read More

March 24, 2020 @ 3:41 pm By JD Alois  |  

Citi is the most recent traditional bank to tell customers that some branches are closed due to the Coronavirus pandemic. Citi operates over 4600 branches around the country.  A report in Bloomberg today laid the blame at the drop in foot traffic to the bank… Read More

March 24, 2020 @ 10:52 am By JD Alois  |  

Kryon, a robotic process automation (RPA) provider, has announced the rapid development and implementation of a large scale data RPA process which integrates Maccabi Healthcare Services’ testing of COVID-19 with the Israeli Ministry of Health. Kyron is an early stage Medtech that has been backed… Read More

March 24, 2020 @ 8:18 am By Samantha Hurst  |  

Northmill, a banking group based in Sweden, recently announced it has invested in a new cloud-based platform from CRM company Zendesk, Inc., which is being used by companies such as Airbnb and Uber. According to Northmill, the purpose of the investment is to give the… Read More

March 23, 2020 @ 5:00 pm By Dror Futter  |  

Remember all those articles about whether venture was overvalued?  With blinding speed, they now seem quaint.  Bluntly stated, most venture-backed companies are in a fight for survival.    Although certain areas of life sciences may do somewhat better, I think the impact will be widely felt. … Read More

March 23, 2020 @ 12:35 pm By Samantha Hurst  |  

Jumia, a Nigeria-based e-commerce platform, announced on Friday it is offering support for marketplaces, logistics, and online payments to governments in Africa as part of the global action against the COVID-19 outbreak. Founded in 2012, Jumia offers e-commerce services through its marketplace, logistics, and JumiaPay…. Read More

March 23, 2020 @ 10:35 am By JD Alois  |  

iCapital Network, a Fintech providing access to alternative investments, has closed a $146 million funding round, according to a release. Ping An Global Voyager Fund led the round and was joined by new investors Goldman Sachs (NYSE: GS), Affiliated Managers Group (NYSE: AMG), Hamilton Lane… Read More

March 23, 2020 @ 10:29 am By Samantha Hurst  |  

Cryptocurrency exchange platform Coinbase announced on Friday its COVID-19 update. The platform reported that it is continuing to support its employees and customers during the outbreak. Brian Armstrong, CEO of Coinbase, stated in the update: “My first priority is the health and safety of our… Read More

March 23, 2020 @ 10:18 am By Omar Faridi  |  

Certain Financial Services Workers Critical as Well The US Department of Homeland Security, a cabinet department of the US federal government tasked with maintaining public security (somewhat comparable to the interior ministries of other nations), has notably included “blockchain managers” in food and agriculture distribution… Read More

March 23, 2020 @ 9:01 am By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced on Monday it integrated with economy as a service fintech, Oveit. According to Crypto.com, the integration will see more than 3,500 offline and virtual events organizers utilize Oveit’s platform to accept cryptocurrency payments from over 1.5 million event attendants… Read More

March 23, 2020 @ 8:48 am By JD Alois  |  

The US Federal Reserve has announced “extensive” measures to support the economy that has struggled as the Coronavirus pandemic (COVID-19) has devastated both small and large industries. The Fed said that while great uncertainty remains, it has become clear that our economy will face severe… Read More

March 23, 2020 @ 7:56 am By Samantha Hurst  |  

FinTech Australia announced on Monday it has postponed its 2020 Finnies Awards amid the COVID-19 pandemic. According to the organization, the Finnies is Australia’s only industry-backed fintech awards and the event gives more than 100 fintech startups the opportunity to be recognized for their achievements…. Read More

March 22, 2020 @ 10:28 pm By Samantha Hurst  |  

The U.S. Securities and Exchange Commission (SEC) has updated its response to COVID-19 and the related effects on the U.S. securities markets. The organization reported that its efforts are centered, first and foremost, on the health and safety of its employees as well as all… Read More

March 22, 2020 @ 5:43 pm By Omar Faridi  |  

Appian, a low-code developer that assists financial services providers with automating their business operations, has introduced a free-to-use Coronavirus (COVID-19) response management software application for its clients, which include major government agencies. Appian’s management noted that the application, which is currently available only to firms… Read More

March 22, 2020 @ 5:41 pm By Omar Faridi  |  

HSBC, a British multinational bank and financial services holding company with over $2.5 trillion in total assets, has teamed up with Cainiao, a China-based logistics company, in order to provide faster trade finance loans to merchants via Alibaba’s Tmall platform in Hong Kong. HSBC will… Read More

March 22, 2020 @ 1:10 pm By Omar Faridi  |  

Banks in the Netherlands are helping customers perform contactless payments at store locations without requiring them to enter their PIN numbers. This move is part of the extraordinary measures that have been taken to prevent the further spread of the deadly and highly contagious Coronavirus… Read More

March 21, 2020 @ 4:14 pm By Omar Faridi  |  

UK-based Fintech firm Finastra has reportedly taken some of its servers offline after discovering “potentially anomalous activity” on its computer systems. To quote a statement from Finastra: “During the period immediately prior to March 20th, 2020, the Finastra IT security and risk teams actively detected,… Read More

March 21, 2020 @ 10:59 am By Omar Faridi  |  

Digital asset hedge fund Adaptive Capital is reportedly closing down its operations. Adaptive Capital was a self-described “multi-strategy cryptocurrency hedge fund with a deep focus on on-chain analytics.” The hedge fund predicted that crypto-assets would become a major macro asset class and on-chain analysis of… Read More

March 20, 2020 @ 5:10 pm By JD Alois  |  

Global stock markets are tanking erasing hard in gains from the past 3 years while governments around the world struggle to keep economies moving forward during the Coronavirus pandemic reality. While COVID-19 is rattling markets everywhere, at least one, Reg CF, has shown signs of… Read More

March 20, 2020 @ 3:40 pm By JD Alois  |  

KeyBank, a regional bank based in Cleveland with over 1100 branches in 25 states and the District of Colombia, is shuttering the lobbies of all its branches. An email distributed to account holders said the bank was taking this action due to the Coronavirus (COVID-19)… Read More