Tagged: coronavirus

June 4, 2020 @ 10:50 pm By Omar Faridi  |  

  Five companies that had applied for a digital banking license in Singapore will now have to assess how the COVID-19 outbreak and resulting challenges will affect their ability to acquire adequate funding. As first reported by Reuters, the applicants will also have to revisit… Read More

June 4, 2020 @ 10:47 pm By Omar Faridi  |  

India’s only publicly-listed Fintech company, 5paisa, revealed on June 3, 2020 that it would be giving its workers a 15% raise on their salaries and will also be offering advance bonus payouts in order to improve or boost employee morale. 5paisa’s generous move has come… Read More

June 4, 2020 @ 4:15 pm By JD Alois  |  

SeedInvest, a top US-based investment crowdfunding platform, is reporting solid performance during a difficult period when much of the country has been shuttered due to the Coronavirus pandemic. In a blog post, SeedInvest said the second quarter of 2020 will be its best ever. According… Read More

June 4, 2020 @ 7:37 am By Omar Faridi  |  

Stenn, an online trade finance scale-up, has acquired investments from Barclays Bank, Coface SA, and Crayhill Capital Management LP via its latest funding round. The capital raised will be used to support Stenn’s trade financing program, Stenn Assets Funding, which is currently valued at $500… Read More

June 3, 2020 @ 1:20 pm By JD Alois  |  

Crowdcube, a top European investment crowdfunding platform based in the UK, is reporting that even during the COVID-19 crisis investment metrics remain strong. In a blog post today, Crowdcube stated: “May [2020] saw an increase in investment activity at Crowdcube, with it reaching a lockdown… Read More

June 3, 2020 @ 10:53 am By JD Alois  |  

The British Business Bank has approved new lenders for several COVID-19 support schemes. According to a release, JCB Finance will join the other 18 Bounce Back Loan Scheme (BBLS) lenders who have been accredited since the program opened last month. Last Friday, Metro Bank was… Read More

June 3, 2020 @ 9:05 am By Omar Faridi  |  

The London Stock Exchange Group (LSEG) and Global Accelerated Ventures (GAV) have introduced a post-COVID-19 fundraising program that aims to assist Fintech and Healthtech firms that might need additional capital to support their growth and development after the pandemic has passed. As noted in statements… Read More

June 2, 2020 @ 9:56 pm By Omar Faridi  |  

Bitcoin Mercantile Exchange (BitMEX), one of the largest cryptocurrency derivatives exchanges in the world, says that they “no longer think that dated volatility-related bets are an effective way to protect portfolios because they are now too expensive.” THe BitMEX team stated: “We believe that inflation… Read More

June 2, 2020 @ 7:55 am By Omar Faridi  |  

UK-based peer to peer (P2P) lender RateSetter recently revealed that fewer consumer borrowers are asking for more time to pay back their loans. RateSetter said that its loan performance is now consistent with what it had predicted or expected during April 2020 and it claims… Read More

June 1, 2020 @ 11:20 am By Samantha Hurst  |  

U.S. banking group Wallis Bank recently announced it has provided $347.5 million in Paycheck Protection Program (PPP) loans to more than 3,500 small businesses throughout the country that have been impacted by the COVID-19 pandemic. As previously reported, The PPP was established by Congress under… Read More

May 30, 2020 @ 6:00 pm By Omar Faridi  |  

San Francisco-based Brex, a company focused on developing B2B financial products, recently acquired $150 million in capital, in order to further strengthen its existing balance sheet and help it maintain operations during the COVID-19 outbreak. Now, the company has announced (on May 29) that it… Read More

May 29, 2020 @ 11:00 pm By Omar Faridi  |  

Bank Central Asia, or BCA, (PT Bank Central Asia Tbk), an Indonesian bank that overtook Singapore’s DBS Bank (in 2016) as Southeast Asia’s largest lender by value, with a market cap of about $24.5 billion, has reported a significant increase in its digital banking transactions… Read More

May 29, 2020 @ 9:06 pm By Omar Faridi  |  

Privacy-oriented Brave Browser, which rewards users in Basic Attention Tokens (BAT), is now supporting in-browser video calls. These calls are reportedly protected by end-to-end encryption, which may become a standard feature given that WhatsApp calls and communication also uses end-to-end encryption. The encrypted video service… Read More

May 29, 2020 @ 6:54 pm By Omar Faridi  |  

The month of April 2020 saw a dramatic 200% surge in the number of new mobile banking registrations, meanwhile, mobile banking traffic increased by 85%, according to data from Fidelity National Information Services (FIS). The significant increase in mobile-based transactions may be attributed to the… Read More

May 29, 2020 @ 11:34 am By JD Alois  |  

The online lending industry has probably suffered more than any other sector of Fintech during the COVID-19 crisis. Borrowers, both businesses and consumers have paused payments in droves. Many individuals have lost their jobs. Businesses have shuttered, some permanently. While many governments have moved swiftly… Read More

May 29, 2020 @ 7:41 am By Omar Faridi  |  

Charlotte Marsh, managing director at ArchOver, a peer-to-peer (P2P) lending platform supporting SMEs business borrowing, has argued that the COVID-19 outbreak can be viewed as a key opportunity for P2P lenders to provide long-term funding to businesses struggling to cope with the economic challenges created… Read More

May 28, 2020 @ 9:18 am By JD Alois  |  

  LendingClub (NYSE:LC), an online lending marketplace and emerging digital bank, has announced the launch of the “Member Center,” a centralized location for users to find assistance and support to better manage their financial lives during the COVID-19 crisis. Early one, when the Coronavirus first… Read More

May 28, 2020 @ 7:42 am By Omar Faridi  |  

Andrew Jenkins, the HM Treasury appointed Fintech Envoy for Northern Ireland, has argued that the financial technology industry could help create many new jobs in the next few years in Northern Ireland. While speaking to the Stormont Economy Committee on Fintech in N. Ireland, Jenkins… Read More

May 27, 2020 @ 1:05 pm By Omar Faridi  |  

Fundbox, a Fintech firm focused on “disrupting” the global $21 trillion B2B commerce ecosystem with its payment and credit network for B2B transactions, confirmed on May 26, 2020, that it received a fresh equity investment from MUFG Innovation Partners Co., Ltd., the corporate VC division… Read More

May 27, 2020 @ 7:27 am By Omar Faridi  |  

UK-headquartered payments service company SumUp has launched an online payment tool to help businesses conduct operations while observing social distancing measures, following the COVID-19 outbreak. As noted in a release shared with CI, SumUp’s latest solution is part of the Fintech firm’s efforts to enter… Read More