Tagged: coronavirus

Corporate Finance Advisory Firm, Shaw & Co, Offers Free Online Credit Suitability Check for SMEs

Shaw & Co, a corporate finance advisory company, will be providing a free of cost online credit suitability check software program for businesses, so that they can determine whether they need and qualify for working capital funding during the COVID-19 crisis. Shaw & Co’s cashflow… Read More

Fintech has Emerged as a “Game Changer” during COVID-19 for Consumers in the Philippines, Traditional Businesses Must Catch Up, Industry Exec Argues

Ney Villasenor, the VP and chief corporate affairs officer at GCash, a Fintech company that facilitates fast and secure mobile payments, has noted that there’s no doubt that COVID-19 has made Fintech services essential for people residing in the Philippines. Villasenor pointed out that cash… Read More

Canadian Fintech Firms Pascal Financial, Fortuna AI Labs are Offering Special Incentives to Advisors during COVID-19

Several Fintech companies have been offering discounts or even free of cost services during COVID-19. These service providers aim to assist businesses, particularly SMEs, with managing and maintaining their operations during these challenging times. As reported by The Globe and Mail, financial advisors had already… Read More

Fintech Is Emerging as a “Crucial Means of Support” for MSMEs during COVID-19, According to the First Circle Growth Finance Team

Benedict Carandang and Lee-Anne Tobias from First Circle Growth Finance, a company that offers financing services to qualified SMEs in the Philippines that sell to other businesses or government agencies, note in a blog post published on the World Economic Forum’s (WEF) official website that… Read More

P2P Lenders in Indonesia Report Slowdown in Loan Disbursement via Fintech Platforms due to COVID-19

Indonesia’s Fintech lending platforms have reported slowing growth in total loan disbursements due to the COVID-19 outbreak and resulting economic challenges. The pandemic has caused many Indonesian startups to become more careful when channeling their credit. The Asian country’s Fintech Lenders Association (AFPI) deputy chairman… Read More

Fintech Sector can Expect Apps with Better Customer Experience, Improved UI and UX for Online Payments, Wolfpack Digital Predicts

Wolfpack Digital from Transylvania notes that we’re halfway through 2020 and the economic impact of the COVID-19 outbreak has been felt and observed across different businesses and industries. The pandemic has also led to significant changes in consumer behavior, as more people are using digital… Read More

Digital Banking Services May Now be Easily Accessed in Singapore via OCBC’s SingPass which Doesn’t Require Remembering or Entering Access Codes

OCBC Bank (Oversea-Chinese Banking Corp., Ltd) (SGX: O39), a multinational banking and financial services corporation headquartered in OCBC Centre, Singapore, has revealed that its customers in Singapore will now be able to use their SingPass to access its digital banking platform. The digital banking services… Read More

Malaysia’s GHL Group Berhad, a Payment Service Provider, Approved to Launch Lending Business in the Philippines

The GHL Group Berhad, a payment service provider and one of the top merchant acquirers in the ASEAN region, recently revealed that its Philippines division has been approved by the Philippines Securities and Exchange Commission (SEC) to conduct its lending business through its new unit,… Read More

Private Debt and Real Assets could Potentially Offer Attractive Opportunities to Investors during COVID-19 Outbreak, BNP Paribas Executive Explains

David Bouchoucha from BNP Paribas’ asset management division has argued that private debt and real assets could potentially offer good opportunities to investors during the COVID-19 outbreak. Bouchoucha noted that these options can be attractive because private debt and real assets have proven to be… Read More

COVID-19 Government Support Schemes Update: Over 1.1 Million Businesses Receive £46 Billion

This week’s update on COVID-19 support schemes indicates that over 1.1. million UK businesses have been approved to receive £46 billion. The numbers breakdown as follows: Approximately 1.05 million smaller firms have received a total of £31.7 billion through the Bounce Back Loan Scheme, an… Read More

Digital Payments: G20 Member Nations Working on New Rules and Policies for Online Transactions

The G20 summit, which will include representatives from 19 different countries and the EU, will be working on laying the groundwork for accepting digital payments. The G20, which is an international forum for world governments and central bank governors, might make changes to the existing… Read More

More than Half of Paycheck Protection Program Recipients are Focused on Financial Services, but Some Crypto Projects like Zcoin are Self-Funded

Over half or 50% of companies that applied for, and received funding via the US government’s Paycheck Protection Program were financial services providers or companies focused on related technology developments. As reported recently, Fintech firms managed to acquire significant amounts of funding from the PPP… Read More

The Need to Modernize with the Cloud will “Supercharge the Competitive Advantage” of Innovative Banks over Slower Rivals, Fintech Professional Explains

The global COVID-19 outbreak has negatively impacted businesses in many different industries throughout the world. Remote working is increasingly becoming the “new normal” for many people. Employees are able to perform most of their daily tasks from home, and don’t need to be at a… Read More

London based Cogress, a Property Investment Firm, to Begin Lending Soon as it Prepares to Secure £5.5 Million in Capital

London-based Cogress, a leading property investment company, confirmed that it’s getting ready to begin lending soon as the company prepares to secure £5.5 million in capital through its investors, after finalizing several new deals. Cogress raises funds via private equity, hotel investments, and mezzanine debt…. Read More

Credit Scoring Tool Provider CRIF Realtime Partners UK’s Business Finance Platform, Finpoint, to Speed Up Loan Issuance to SMEs

CRIF Realtime, a credit scoring tool provider for small businesses, has teamed up with UK-based Finpoint, a platform that lets borrowers compare different options anonymously and negotiate directly with finance providers. Both companies aim to work cooperatively in order to speed up the process of… Read More

UK’s Consumer Finance Association Questions Whether Forbearance During COVID-19 Crisis Should be Reflected on Credit Records

The UK’s Consumer Finance Association (CFA), a trade association of non-bank lenders that represents alternative consumer credit providers, recently questioned whether forbearance during the COVID- 19 crisis should be reflected or shown on credit files. The Financial Conduct Authority (FCA) has provided guidelines that may… Read More

UK’s Landbay, a Buy-to-Let Mortgage Lender, Explains that Automatic Valuation Models and Desktop Valuations Don’t Work Well for Specialized Lenders

UK-based Landbay, a buy-to-let mortgage lender that provides various borrowing opportunities, says that automatic valuation models (AVM) and desktop valuations used by major buy-to-let lenders during COVID-19 are not possible for more specialized lenders. A desktop valuation usually refers to valuations that are undertaken with… Read More

Tide Pauses “Bounce Back Loan” Lending & Closes Waiting List

UK-based challenger bank Tide announced this week it has paused its bounce back loan lending and closed its waiting list. In April 2020, Chancellor Rishi Sunak announced the lending scheme, which added to the existing support of small businesses that are affected by the COVID-19… Read More

Fintech Executive Says COVID-19 has been the “Shot in the Arm” that Contactless Payments Needed, Now It’s Unsafe to Use Paper Currency

Jane Gladstone, the recently appointed president of Promontory Interfinancial Network, has been working in Fintech investment banking since the 1990s. Gladstone established a Fintech merger and acquisition (M&A) and advisory service during the 90s, while working at Morgan Stanley. Gladstone, the former senior MD at… Read More

Around 66% of European Consumers Say COVID-19 has Accelerated Shift Towards Digital Onboarding, but 40% Can’t Access New Financial Services: Report

Around 40% of European consumers responding to a survey claim that they’ve not been able to access new financial services because of lockdown measures enforced after the COVID-19 outbreak. These consumers also said they’re unable to access digital platforms, which is why they can’t use… Read More

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