Tagged: coronavirus

April 25, 2020 @ 6:53 pm By Omar Faridi  |  

Fintech Zopa, which offers online lending services in a fund based fashion, has warned that scammers have been taking advantage of the current situation. According to a report from Action Fraud, victim losses due to the fraudulent activity related to the Coronavirus (COVID-19) in March… Read More

April 25, 2020 @ 11:28 am By Omar Faridi  |  

New York-based Signature Bank, a cryptocurrency-friendly commercial bank with around $50 billion in total assets, has reportedly experienced a 30% drop in its total income during Q1 2020, when compared to the same time period last year. This could be due to the Coronavirus (COVID-19)… Read More

April 25, 2020 @ 9:31 am By Omar Faridi  |  

The Singapore Fintech Association (SFA) and Razer Fintech will reportedly be offering Financial technology firms in the city-state bridge financing, equity or equity-linked instruments, which will range from anywhere between $100,000 to $1.5 million (appr. S$143,000 to S$2.1 million) According to an April 23, 2020… Read More

April 24, 2020 @ 5:56 pm By Omar Faridi  |  

Tim Carmody, the chief technology officer at IPC, a global provider of communications and networking solutions for the financial markets, recently shared his views and insights with Crowdfund Insider. Carmody, who has several decades of experience in designing and leading complex technology solutions for the… Read More

April 24, 2020 @ 5:21 pm By JD Alois  |  

Earlier this week, HM Treasury announced updated relief programs designed to help early-stage firms that may not have been eligible for previously announced COVID-19 economic support programs. At the time of the announcement, Chancellor of the Exchequer Rishi Sunak said the additions would help power… Read More

April 24, 2020 @ 4:41 pm By Omar Faridi  |  

Reserve banks must seriously look into issuing a digital version of cash in order to prevent the “privatization” of money, according to research and campaign group Positive Money. The group’s recent report argues that trust in the existing monetary system might disappear, if banks don’t… Read More

April 24, 2020 @ 12:47 pm By Samantha Hurst  |  

Sean ‘Diddy’ Combs announced on Friday the launch of his new platform, Our Fair Share. According to the Entrepreneur and Media Mogul, Our Fair Share is a platform built to help minority entrepreneurs and small businesses access to much-needed funding amid the economic devastation caused… Read More

April 24, 2020 @ 8:18 am By Omar Faridi  |  

Fintech funding has declined significantly during the first quarter of this year, mainly due to the Coronavirus (COVID-19) outbreak, and resulting social and economic challenges. A recent report from Forrester has cautioned that many companies could be forced to shut down as the effects of… Read More

April 24, 2020 @ 1:07 am By Omar Faridi  |  

UK-based digital bank Monzo has been planning to enter the US market for a fairly long time. A beta launch in the US was announced in late 2019. The banking challenger, which has been valued at over $1 billion, has managed to almost double its… Read More

April 23, 2020 @ 10:47 pm By Omar Faridi  |  

Crypto and blockchain or distributed ledger tech (DLT) firms have been developing solutions to help people cope with the deadly Coronavirus (COVID-19) outbreak. Several crypto and Fintech firms and organizations have launched charitable initiatives in order to provide financial relief and other types of assistance… Read More

April 23, 2020 @ 4:29 pm By JD Alois  |  

Earlier this week, Crowdfund Insider wrote about the challenges some Fintech lenders are encountering due to the ongoing COVID-19 pandemic. Online lenders in the SME, consumer, and real estate sector are seeing a shift in business as borrowers and investors back away in a market… Read More

April 23, 2020 @ 12:17 pm By Samantha Hurst  |  

PalmPay, an Africa-based payment startup, announced this week it is waiving fees on all money transfers and has launched a new ₦100 million COVID-19 support fund. According to PalmPay, the waiving of fees offer is now available for any amount to any Nigerian bank until… Read More

April 23, 2020 @ 8:01 am By Samantha Hurst  |  

Banking and finance industry organization UK Finance announced on Thursday that its latest data revealed more than £2.8 billion has been lent to SMEs so far through the Coronavirus Business Interruption Loan Scheme (CBILS). The organization reported that total lending under CBILS has doubled in… Read More

April 22, 2020 @ 10:33 pm By Omar Faridi  |  

Gnosis, a decentralized prediction market solution that spun out from Ethereum (ETH) development studio ConsenSys back in 2017, has launched a separate decentralized prediction market specifically for the Coronavirus (COVID-19) pandemic. Gnosis confirmed that it has provided $50,000 to help fund a non-profit Corona Information… Read More

April 22, 2020 @ 10:30 pm By Omar Faridi  |  

daVinci Payments, a Fintech company that facilitates global corporate payments, disbursements, virtual rewards and offers prepaid cards, has introduced a “Brand Accelerator,” which is a software-as-a-service (SaaS) platform designed to make payments “a seamless branded experience for recipients—from beginning to beyond the point of payment.”… Read More

April 22, 2020 @ 7:30 pm By Michael Burtov  |  

It’s no secret that there has always been a disconnect between the Venture Capital (VC) industry and the Startups that they fund. VCs are the embodiment of old school funding and their investments have, until recently, been the judge, jury, and executioner for countless innovation… Read More

April 22, 2020 @ 3:57 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the news that LendingClub (NYSE:LC), the largest Fintech consumer lender in the US, was furloughing and eliminating jobs due to the COVID-19 pandemic. The crisis has apparently driven the elimination of 471 individual jobs. Shockingly, LendingClub’s President saw his position eliminated…. Read More

April 22, 2020 @ 2:46 pm By Samantha Hurst  |  

Citizens Bank of Edmond announced on Wednesday it has teamed up with MX, a bank, credit union, fintech digital platform to launch a new Paycheck Protection Program (PPP) loan portal for the bank’s small business customers. According to Jill Castilla, President and CEO of Citizens Bank… Read More

April 22, 2020 @ 11:01 am By Samantha Hurst  |  

Lendsmart and Griffin Technologies, two U.S. fintechs that are building software for banks and credit unions, announced on Wednesday they have partnered to provide their customers a complete end-to-end solution for the Paycheck Protection Program (PPP), which was created under the original CARES Act following the COVID-19… Read More

April 22, 2020 @ 8:50 am By Samantha Hurst  |  

HouseCanary, a U.S.-based fintech firm focused on providing a real estate analytics solution, announced on Wednesday it has reviewed 41 states with the highest listing and transaction volume in the weeks since the COVID-19 pandemic hit the U.S. economy. According to HouseCanary, potential homebuyers were… Read More