Tagged: coronavirus

April 17, 2020 @ 12:28 pm By Samantha Hurst  |  

UK-based digital banking group Starling Bank announced on Thursday it has launched a new tool that helps business customers to find the appropriate Government coronavirus support scheme for them. Starling Bank further revealed that the tool asks users a series of questions related to their… Read More

April 17, 2020 @ 10:37 am By Samantha Hurst  |  

Online lending platform Lendio announced on Friday it facilitated more than 50,000 small businesses across the U.S. through the Paycheck Protection Program (PPP). Lendio reported that PPP applications approved through its online marketplace and bank partnerships total more than $5.5 billion. As previously reported, the… Read More

April 17, 2020 @ 10:13 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) is telling customers of financial institutions to stop going to brick and mortar locations during the COVID-19 pandemic. MAS is urging consumers to use digital, email, and telephone channels as far as possible. Of course, MAS is telling the… Read More

April 16, 2020 @ 9:12 pm By JD Alois  |  

The fact that the COVID-19 pandemic has impacted the consumer lending market should come as no surprise to anyone. As the jobless rate has jumped, borrowers are having to make difficult decisions as their income has tanked. Now we have some solid data provided by… Read More

April 16, 2020 @ 12:38 pm By JD Alois  |  

The National Crowdfunding and Fintech Association of Canada (NCFA) has published an open letter demanding the Canadian government to engage and leverage Fintechs to help in the battler against the COVID-19 crisis. Addressed to Canadian Prime Minister Justin Trudeau, along with several of his Ministers,… Read More

April 16, 2020 @ 10:03 am By Samantha Hurst  |  

Russian banking group Sberbank announced earlier this week it is launching an anti-crisis support platform, SberUnity, that is specifically for SMEs. According to Sberbank, SberUnity was created to help businesses find new solutions and transform their companies from offline to online ones. Sberbank also claims… Read More

April 15, 2020 @ 11:06 pm By JD Alois  |  

Necessity is the mother of invention. This we know. Sportsbet, an Australian online bookmaker, saw betting tank just like most other businesses as the COVID-19 pandemic spread. At the end of March Stuart Allott, Sportsbet head of corporate affairs, told BI Australia: “Given the unprecedented… Read More

April 15, 2020 @ 10:19 pm By Omar Faridi  |  

India-based PhonePe, a major digital payments platform, will be supporting delivery as an option through its app. The Bengaluru-headquartered Fintech firm will introduce a feature in the “Stores” section of its app, which will allow users to have groceries and other essentials delivered to their… Read More

April 15, 2020 @ 5:16 pm By Omar Faridi  |  

Algorand (ALGO), a leading proof of stake (PoS)-based blockchain platform, recently revealed that it’s developing a trusted, public, and permissionless infrastructure (with the help of its community members) for the borderless global economy. The Algorand team announced: “In support of our mission, we are launching… Read More

April 15, 2020 @ 2:09 pm By JD Alois  |  

OnDeck (NYSE: ONDK), an online SME lender, has been approved as a Small Business Administration (SBA) lender to facilitate the Paycheck Protection Program (PPP), part of the CARES Act Coronavirus assistance program. Under the PPP, OnDeck will be processing and servicing loans on behalf of… Read More

April 15, 2020 @ 12:45 pm By JD Alois  |  

The Paycheck Protection Program (PPP), one of the elements of the CARES Act designed to help the US SME sector that has been demolished by the COVID-19 pandemic, has been lauded in its intent but criticized in its execution. Confusion continues as banks struggle to… Read More

April 15, 2020 @ 12:42 pm By Samantha Hurst  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, announced on Wednesday it has received approval to issue Paycheck Protection Program (PPP) loans through its online lending platform. As previously reported, the PPP is part of… Read More

April 15, 2020 @ 10:32 am By Omar Faridi  |  

Fintech firm Zaggle, which leverages artificial intelligence (AI) and deep learning to provide innovative solutions to Indian businesses, reportedly had a turnover of around INR 1800 Crores (appr. $237 million) for the 2018-2019 financial year (FY). Zaggle is now expecting to generate INR 3500 Crores… Read More

April 15, 2020 @ 8:54 am By JD Alois  |  

Charlotte Crosswell, CEO of Innovate Finance, has posted an open letter in support of Fintech utilization during the COVID-19 pandemic. In the UK, the government has received some criticism for being slow to empower Fintech’s to help facilitate the Coronavirus programs designed to support the… Read More

April 15, 2020 @ 8:18 am By JD Alois  |  

Dinghy, an Insurtech backed by Allianz, is now offering up to 2 months of free professional indemnity insurance until June 14. The program is designed to assist freelancers who are not working and struggling to make ends meet during the COVID-19 pandemic. Dinghy is an… Read More

April 15, 2020 @ 1:05 am By Omar Faridi  |  

India-based HDFC Bank, the nation’s largest private sector lender, recently issued a warning regarding a potential increase in fraudulent activities online, including phishing scams. Sameer Ratolikar, chief information security officer at HDFC Bank, said during a conference call that the cybercriminals and hackers could begin… Read More

April 14, 2020 @ 3:20 pm By Samantha Hurst  |  

Audit, consulting, tax and advisory services  Deloitte has formed a new partnership with no-code enterprise application platform Unqork to launch a fully-managed small business lending service. According to the duo, this service will enable small business lenders to “streamline” the distribution of loans to small… Read More

April 14, 2020 @ 10:58 am By Omar Faridi  |  

London-based Salary Finance, a firm that specializes in salary-linked savings and loans for workers across the UK, has integrated SpringFour, a Fintech solution provider that connects customers and employees to various productivity resources, tools and financial products. Through the integration, Salary Finance will offer free… Read More

April 14, 2020 @ 8:00 am By JD Alois  |  

Digital bank Revolut has announced a partnership with Medecins Sans Frontieres (MSF) (Doctors without Borders) to provide support for communities affected by the COVID-19 pandemic. Revolut customers in EEA countries will be able to donate via an in-app feature to help people in need during… Read More

April 14, 2020 @ 5:26 am By JD Alois  |  

Online lender Prospa Group Limited (ASX: PGL) has received access to the Australian government’s SME Guarantee Scheme to support small businesses impacted by the COVID-19 pandemic. The Fintech believes it is uniquely placed to implement the Government’s initiative. The Coronavirus Small and Medium Enterprises Guarantee… Read More