Tagged: coronavirus

May 19, 2020 @ 9:59 am By JD Alois  |  

HM Treasury has provided an update on the progress of the various COVID-19 support programs that have been put in place in the last two months. According to the UK government:   8 million jobs have now been furloughed with £11.1 billion claimed so far… Read More

May 18, 2020 @ 11:33 pm By Omar Faridi  |  

The Fintech sector will get stronger due to the COVID-19 outbreak, as more consumers begin using digital payments platforms and also as more people start working remotely, according to a new report from the Dubai Future Foundation (DFF). The report noted: “This sector will successfully… Read More

May 18, 2020 @ 9:31 pm By Omar Faridi  |  

Ant Financial, the Fintech division of Chinese multinational e-commerce giant Alibaba Group (NYSE:BABA), has teamed up with Digital Money Myanmar (Wave Money), in order to promote financial inclusion and help the country’s unbanked and underbanked population. Ant Financial will offer its expertise in mobile and… Read More

May 18, 2020 @ 11:40 am By JD Alois  |  

OurCrowd portfolio company Zebra Medical Vision, a deep-learning Medtech company, has announced its fifth FDA 510(k) clearance for its Vertebral Compression Fractures (VCF) product. The VCF product expands the company’s growing “AI1” (all-in-one) bundle of FDA cleared AI solutions. The company explains that nearly half… Read More

May 18, 2020 @ 9:54 am By Samantha Hurst  |  

Global financial service platform Kabbage announced on Monday that more than 110,000 U.S. small businesses have been approved to receive over $3.5 billion in Paycheck Protection Program (PPP) funding through its online lending platform.  As previously reported, the Paycheck Protection Program is part of the… Read More

May 18, 2020 @ 8:54 am By JD Alois  |  

Eurozone savers deposited €43 billion in March 2020, marking the eighth month where net inflows exceeded 40 billion euros since February 2019, according to a report by Hamburg, Germany based Fintech and open banking platform Deposit Solutions. The company’s research indicates that French savers deposited… Read More

May 18, 2020 @ 8:00 am By Omar Faridi  |  

    We recently caught up with Zon Chu, CEO at Constant, a “fully secured” peer-to-peer (P2P) lending platform. Constant started as a stablecoin project in 2019 (CONST) announced at CES but has since morphed into a lending platform. Constant notes that P2P lending has… Read More

May 18, 2020 @ 1:15 am By Omar Faridi  |  

JustUs recently confirmed that it will begin lending to borrowers who are considered key or essential services workers. The peer-to-peer (P2P) lending platform noted that it will selectively accept loan applications from individuals and companies that may be offering essential services during these challenging times…. Read More

May 16, 2020 @ 12:45 pm By Omar Faridi  |  

UK-based digital bank Monzo is reportedly planning to acquire additional capital at a 40% discount on its previous valuation. It was reported in December that Monzo was seeking to raise an additional £100 million but it appears the Coronavirus has impacted the funding round. As… Read More

May 15, 2020 @ 8:33 am By Samantha Hurst  |  

Paiblock, a Denmark-based blockchain and artificial intelligence (AI) platform, announced on Friday it has extended in-app banking coverage to customer accounts across US banks in response to the COVID-19 pandemic. Founded in 2011, Paiblock describes itself as a blockchain-based and AI-capable payment and digital lifestyle platform… Read More

May 15, 2020 @ 8:22 am By Omar Faridi  |  

Around £1.4 billion (appr. $1.7 billion) of total UK Fintech-related investments might potentially be lost due to the deadly COVID-19 outbreak. This, according to a recent survey of Fintech industry professionals carried out by techUK and blockchain company Qadre. About 68% of the 59 Fintech… Read More

May 15, 2020 @ 7:00 am By Omar Faridi  |  

Although certain Fintech firms may be dealing with a funding freeze or they may be generating lower revenues, the UK’s financial technology industry most likely won’t experience as many problems due to COVID-19, when compared to other sectors. This, according to a recent report from… Read More

May 14, 2020 @ 4:00 pm By Craig Dempsey  |  

The first case of Covid-19 in Latin America was diagnosed in Brazil at the end of February. Since then, the number of cases has soared into the thousands in at least 20 countries. In response, many countries have implemented strict social distancing policies, requiring businesses… Read More

May 14, 2020 @ 9:31 am By Samantha Hurst  |  

Rapyd, a global B2B Fintech as a Service provider, announced on Thursday it has launched a new initiative, the Rapyd Social Responsibility and will be waiving foreign exchange and processing fees on the first $100,000 in total processing volume for new businesses in the U.S., Brazil, and Mexico that… Read More

May 13, 2020 @ 4:02 pm By Samantha Hurst  |  

Plastiq, a U.S.-based intelligent payments solution for small business, announced on Wednesday it is launching its card acceptance product ahead of its original third quarter 2020 debut. The company reported the acceleration of the product’s launch is due to the COVID-19 pandemic, which was infamously… Read More

May 13, 2020 @ 9:19 am By JD Alois  |  

We have seen a lot of anecdotal evidence that online capital formation platforms focusing on early-stage ventures continue to do pretty well in spite of the ongoing pandemic. Earlier today, Crowdcube co-founder Luke Lang tweeted out some numbers indicating robust performance on the platform during… Read More

May 13, 2020 @ 7:56 am By Omar Faridi  |  

  A blog post recently published by the World Economic Forum notes that SMEs throughout the world have been struggling to maintain operations due to the COVID-19 outbreak, nationwide lockdowns, and resulting economic challenges. WEF’s blog acknowledges that traditional lending models have been an obstacle… Read More

May 12, 2020 @ 10:34 pm By Omar Faridi  |  

Standard Chartered Bank has introduced a wide range of self-service requests for customers based in India. The new services will be available via the Standard Chartered Mobile app and through the institution’s online banking portal. Standard Chartered bank’s customers in India will now be able… Read More

May 11, 2020 @ 10:45 pm By Omar Faridi  |  

  In March, it was reported that CoinDCX had secured $3 million in funding through a Series A investment round, led by Bitcoin Mercantile Exchange (BitMEX) operator, HDR Group. At that time, Sumit Gupta, co-founder and CEO at CoinDCX, said the crypto space in India was developing… Read More

May 11, 2020 @ 9:57 pm By Omar Faridi  |  

India-based digital bank RazorPay announced on May 11, 2020 that it’s planning to recruit more staff members for key positions across its engineering and product design teams. As previously reported, the banking challenger had revealed that there had been a significant increase in the number… Read More