Global

April 7, 2020 @ 9:00 am By JD Alois  |  

Peer to peer lending platform TWINO is the latest online lender planning to expand its portfolio of services offered to its customers. According to a release, TWINO has applied for an investment brokerage license in Latvia. It was not immediately clear which additional services the… Read More

April 7, 2020 @ 8:20 am By JD Alois  |  

The COVID-19 pandemic has challenged all UK businesses. But smaller firms and early-stage companies may end up bearing the brunt of the impact as these companies can be less well prepared to endure an ongoing economic shutdown. Today, the Enterprise Investment Scheme Association (EISA) is… Read More

April 7, 2020 @ 7:38 am By Omar Faridi  |  

UK-based banking group NatWest‘s online business services bank, Mettle, will be providing free access to FreeAgent’s cloud-powered accounting software The software should help freelancers, sole traders and small and medium-sized enterprises (SMEs) with handling their accounting work. Companies that sign up to connect their FreeAgent… Read More

April 6, 2020 @ 9:30 pm By Omar Faridi  |  

India-based PayU, a leading payment gateway, has introduced several projects and measures,  in order to assist local vendors, small and medium enterprises (SMEs), and business owners in dealing with the disruption due to the Coronavirus (COVID-19) outbreak. The initiatives launched by PayU will help businesses… Read More

April 6, 2020 @ 4:48 pm By JD Alois  |  

As was reported earlier today, the law firms of Roche Cyrulnik Freedman and Selendy & Gay filed a squadron of class action lawsuits targeting multiple crypto exchanges as well as token issuers. The two firms targeted four exchanges, including Bitmex and Binance as well as… Read More

April 6, 2020 @ 2:40 pm By JD Alois  |  

Mintos, a global loan marketplace claiming over a quarter of a million investors, is pursuing both a investment firm license and an e-money institution license, according to a release from the company. Mintos has applied to the Financial and Capital Market Commission (FCMC) in Latvia… Read More

April 6, 2020 @ 1:32 pm By Xu Gao  |  

Risk Alert against the Hype of Overseas Virtual Currency Exchanges Back in 2017, the People’s Bank of China (PBC), Cyberspace Administration of China and other 5 ministries published the “Notice on Guarding against Risks of ICOs”, stipulating that virtual currency trading and ICOs are illegal… Read More

April 6, 2020 @ 11:48 am By JD Alois  |  

Everyone is accustomed to seeing credit/debit card numbers on the plastic we lug around in our wallets. These numbers are a holdover from the day when merchants needed to type in or take an impression of the actual card. Until the Apple Card emerged, all… Read More

April 6, 2020 @ 11:14 am By JD Alois  |  

On March 10, 2020, the Bank of England, Monetary Policy Committee (MPC) voted to reduce Bank Rate and to introduce a new Term Funding Scheme with additional incentives for Small and Medium-sized Enterprises (TFSME). Today, the Bank is announcing that the TFSME will open for… Read More

April 6, 2020 @ 9:26 am By Omar Faridi  |  

Eden Amirav, CEO at Become (formerly Lending Express), a leading online platform that helps small and medium-sized businesses (SMBs) find and optimize funding solutions, noted on April 5, 2020, that during these uncertain times, all business owners need to be able to get the help… Read More

April 6, 2020 @ 9:22 am By JD Alois  |  

Last week, Crowdfund Insider reported on Latvia-based peer to peer lender Grupeer’s decision to halt all lending due to the impact of the COVID-19 pandemic. CI quoted the company’s decision: “Regretfully, we are forced to inform you that in the current circumstances it is not… Read More

April 6, 2020 @ 8:04 am By Omar Faridi  |  

Although the public seems concerned that the Coronavirus (COVID-19) may be transmitted by handling physical cash, scientific evidence indicates that the risk is relatively low when compared with various other frequently touched objects, such as PIN pads. A paper recently published by the Bank for… Read More

April 6, 2020 @ 7:51 am By Omar Faridi  |  

Swedbank AB, a Nordic-Baltic banking group headquartered in Stockholm, Sweden, is reportedly sponsoring a global hackathon, which will try to find solutions to deal with the  deadly Coronavirus (COVID-19) outbreak. The event, which is scheduled to take place between April 9-12, 2020, aims to be… Read More

April 6, 2020 @ 7:43 am By JD Alois  |  

Nextfin, an investment aggregation platform, is echoing the sentiment of many other platforms in the early-stage funding sector by calling on the UK government to expand both the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) to encourage private investments in SME’s. EIS… Read More

April 6, 2020 @ 7:28 am By JD Alois  |  

Last week, it was reported that RateSetter, a leading UK peer to peer lender, was considering a merger or sale of the business. A report in SkyNews said the COVID-19 pandemic had exacerbated a “funding squeeze” compelling the Fintech to approach potential acquirers. RateSetter has… Read More

April 6, 2020 @ 7:01 am By Omar Faridi  |  

Nationwide has halted its plans to offer business banking services, and has reportedly returned £50 million in Royal Bank of Scotland (RBS) bailout funds to the Banking Competition Remedies Board. In May 2019, Nationwide received a £50 million grant from the RBS bailout fund, in… Read More

April 5, 2020 @ 10:55 pm By Omar Faridi  |  

Individuals and organizations are increasingly looking for ways to access services that require minimal or no physical contact, following the deadly Coronavirus (COVID-19) outbreak. Fintech firm PayBy has introduced a fast and secure mobile payment services platform in the United Arab Emirates (UAE). PayBy’s solution… Read More

April 5, 2020 @ 9:53 pm By Samantha Hurst  |  

Digital bank Revolut recently announced plans to move non-UK customers in Central and Eastern Europe in its newly licensed Lithuanian entity before the end of the Brexit transition period in December 2020. The company went on to share more details about its response to Brexit…. Read More

April 5, 2020 @ 8:01 pm By Omar Faridi  |  

OneConnect Financial Technology, the Fintech division of Ping An Insurance, China’s largest insurance and logistics conglomerate, has partnered with the China Merchants Port Group (CMPort), in order to develop a blockchain or distributed ledger tech (DLT)-enabled logistics platform. The DLT-based solution is being created for… Read More

April 5, 2020 @ 7:07 pm By JD Alois  |  

Fintechs are starting to furlough employees as the economy tanks due to the COVID-19 induced decline. While not officially in recession, major economies are bracing for the worse while businesses are compelled to let employees go as business activity slows. On Monday, it was reported… Read More