Tagged: coronavirus

Fintech Firms are Now a “Critical Constituent” of Indian Financial Services Sector: Report

India is now home to more than 2,000 Fintech companies and has become one of the world’s largest financial technology markets (after the US, China and UK), according to a report from McKinsey & Company that was released earlier this month. The report notes that… Read More

Financial Services Professionals Say Lending Sector to Take A Year or Longer to Recover to Pre-COVID Levels: Survey

The COVID-19 pandemic has accelerated the shift to digital with financial services, according to a recent report from TransUnion (NYSE:TRU), a financial services data platform and credit report provider. The report notes that the Coronavirus outbreak sent “shockwaves” through the financial services sector and has… Read More

Acquisition Demand for Software as a Service (SaaS) Firms has Become “Even Stronger” following COVID, According to Industry Exec

Michael Walkinshaw from TIMIA Capital notes that the acquisition demand for software-as-a-service (SaaS) companies has become even stronger in a post COVID world. He states that there has been a noticeable increase in SaaS growth equity funding and M&A activity during the past few months…. Read More

More than Half of European SMEs May Shut Down Permanently in Next 12 Months Due to Challenges Created by COVID: Report

The COVID-19 pandemic has negatively impacted the operations of small businesses across the globe. European SMEs are the lifeblood of the region’s economy and a recent report claims that nearly half of these companies might shut down within the next 12 months. According to research… Read More

Mastercard Says its AI and Machine Learning Solutions Aim to Stop Fraudulent Activites which have Increased Significantly due to COVID

Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard, notes that artificial intelligence (AI) algorithms are part of the payment company’s “first line of defense” in protecting over 75 billion transactions that Mastercard processes on its network every year. Bhalia recently revealed the different ways that… Read More

Brazil Is Reportedly Planning to Conduct IPO for Caixa Econômica Federal, which has Built a Digital Banking Platform during COVID-19 Crisis

Paulo Guedes, the Minister of Economy in Brazil, recently noted that the country is planning to join the Organization for Economic Cooperation and Development (OECD), which is an intergovernmental economic organization with over 30 member countries. The OECD aims to promote economic growth and also… Read More

American Express and Coupa to Expand Partnership to Bring Virtual Card Payments to US Markets

American Express (NYSE:AXP) and Coupa have announced that they’ll be expanding their existing partnership in order to bring virtual card payments to the US. According to a release, the American Express virtual Card payment option within Coupa Pay is now available globally, allowing companies to… Read More

Perspective: Time to ignite the dry powder in the UK

I have been impressed, not only with the economic levers Rishi Sunak, has used to stimulate the economy but with the measured and calm way he has dealt with a crisis that could have been a poison chalice for many another Chancellor. A few weeks… Read More

Nearly 75% of Payments in the UAE will Be Cashless by 2025 as Country Prepares for Post COVID Business Environment

  Dubai Economy recently brought together the main stakeholders in the country’s cashless economy ecosystem at the Future Economy Lab event (workshop). The event was conducted as part of the UAE’s ongoing efforts to address COVID-19 related challenges. The Middle Eastern country is focused on… Read More

Funding Xchange: SME Lending Dropped by 80% During COVID, Data Indicates Return to Pre-Crisis Levels

Funding Xchange, a marketplace for UK lenders, has published its Q4 Monitor Report on SME lending and, according to its research, there are signs of a “tentative” recovery in the UK. As one may anticipate, SME lending tanked as COVID consumed the world. In fact,… Read More

Online Lender October Is Expecting its Lenders’ Returns to be Impacted Negatively due to COVID-19 Crisis

Marc Sebag, the Chief Risk Officer at October, a top European online lender, had answered important questions last year (in June 2019) about defaults and the continuous improvements that the platform makes to its scoring model. The October team acknowledges that the COVID-19 outbreak has… Read More

Meltem Demirors: CSO at CoinShares Says Cryptocurrency Is “Inevitable” and We Might See Many Bad Policies from Lawmakers

  We recently spoke to Meltem Demirors, the Chief Strategy Officer at CoinShares, a digital asset treasury management firm that manages over $1 billion in assets. Demirors talked about how financial markets reacted after US President Donald Trump tested positive for COVID-19. She also discussed… Read More

Cost of Fraud for Financial Services and Lending Firms Increased Significantly in the US and Canada: Report

LexisNexis Risk Solutions has published its latest research report, titled Risk Solutions 2020: True Cost of Fraud Study: Financial Services & Lending (for the US and Canadian financial services and lending sectors). The research report covers the different types of fraudulent activities in the lending… Read More

Congress’s Inability to Enact a Second Stimulus Should Not Impact Loan Performance Reports dv01

The US House of Representatives has refused to cut a deal with the White House and come to terms with a second COVID-related stimulus package as leadership fears it will help the Trump campaign as the election nears. Many observers and policymakers believe a second… Read More

Germans are Not Using Banking Apps as Much as Expected, but Are Using Online Trading Apps More Frequently After COVID: Report

A recent Fintech study reveals that digital banking apps are now beginning to lag behind online trading apps (in Germany) which grew by 140%. Despite the COVID-19 outbreak, German consumers have not been using mobile banking apps as much as expected, according to a study… Read More

AI, Big Data, and Blockchain Firm Bianjie Partners Wuhan Run He De Kang to Implement DLT Solution for Fighting COVID-19

Bianjie and the Wuhan Run He De Kang (RHDK) have partnered to implement a blockchain or distributed ledger technology (DLT) enabled Epidemic Early Warning System, in order to help in the fight against Covid-19. As mentioned in the announcement, Wuhan RHDK is a healthcare-focused, Big… Read More

Neobanks in Australia including 86 400, Xinja, Volt Forced to Further Reduce Interest Rates on Savings Accounts

Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More

SocietyOne Reportedly Flattens 2000% Spike in Hardships Caused By COVID-19 After Development& Implementing Tech Solutions to Manage Hardship Request Surge

Australia-based marketplace lender SocietyOne announced on Monday it has successfully flattened a 2000 per cent spike in hardships caused by COVID-19 after developing and implementing a tech solution in less than 5 days to manage the surge of hardship requests. The lender noted prior to… Read More

Non Bank Lenders on Track to Manage $1 Trillion in Assets by End of 2020, Cloud Powered Lending Platforms Needed: Report

CAPX, a Los Angeles based financial services firm, has published a report which notes that middle-market firms (businesses with anywhere between 100 to 2,000 employees, or with $10 million to $500 million in annual revenue) have been experiencing certain challenges when trying to gain access… Read More

Mastercard Reports 40% Increase in Contactless Payments Since January 2020, Digital Tech Adoption on the Rise Following COVID

The COVID-19 outbreak has accelerated the shift towards the increased use of all-digital platforms and services by consumers across the globe. Ajay Bhalla, president of Cyber and Intelligence for Mastercard, says that the “new normal” is not a new development anymore and that we need… Read More

Send this to a friend