Tagged: covid-19

May 7, 2020 @ 11:34 am By JD Alois  |  

Last month, PeerStreet pushed pause on all loan funding as the COVID-19 pandemic hit the real estate crowdfunding platform. PeerStreet is not alone in looking for ways to better manage the fast-changing economic environment as the economy went from boom to bust in weeks –… Read More

May 6, 2020 @ 10:47 pm By Omar Faridi  |  

More insurance technology (Insurtech)-related deals were finalized during Q1 2020, when compared with the same time period last year. However, overall funding for Insurtech dropped by 54% to $912 million, due to the COVID-19 outbreak and resulting economic uncertainty. This, according to Willis Towers Watson’s… Read More

May 6, 2020 @ 10:02 am By Samantha Hurst  |  

Buckle, a U.S.-based financial services, announced on Wednesday it has been temporary approval to add insurance coverage to its rideshare driver members’ policies for the delivery of food, household supplies, and other packaged goods during the COVID-19 pandemic. Buckle reported that due to the virus,… Read More

May 6, 2020 @ 9:37 am By Omar Faridi  |  

Video banking has become increasingly popular during the past few years. It’s quite possible that it will be adopted by even more consumers, due to the Coronavirus (COVID-19) outbreak, which has led to many people practicing social distancing. A recent report from research firm Retail… Read More

May 6, 2020 @ 8:34 am By JD Alois  |  

The newest COVID-19 support package created by the UK government appears to be a big hit with UK businesses. According to a post by HM Treasury, over 69,000 loans valued at more than £2 billion have been approved in just 24 hours. Bounce Back Loans… Read More

May 5, 2020 @ 11:02 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator,  confirmed recently that it would be supporting the inaugural G20 TechSprint initiative, which has been introduced by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency on the… Read More

May 5, 2020 @ 4:44 pm By JD Alois  |  

LendingClub (NYSE: LC) is out with its first-quarter earnings report and the numbers are indicative of the problematic economy that has been crushed by the Coronavirus pandemic. LendingClub, the leading marketplace lender in the US, delivered numbers that showed a significant decline versus the same… Read More

May 5, 2020 @ 12:44 pm By Samantha Hurst  |  

Getsafe, a Germany-based insurtech startup, is reportedly delaying expansion into other European markets due to the COVID-19 pandemic. This news comes just a few months after Getsafe announced its expansion into the UK. As previously reported, Getsafe claims it is looking to reinvent insurtech and is… Read More

May 5, 2020 @ 11:42 am By JD Alois  |  

  Mintos, a top marketplace for debt investors in Europe, has recently conducted research amongst their audience seeking to gain insight into the impact of the COVID-19 pandemic. According to Mintos, the majority of crowdlending investors (65%) remain optimistic even in light of the ongoing… Read More

May 5, 2020 @ 11:18 am By Samantha Hurst  |  

SpotOn Transact, Inc (SpotOn), a software and payments company, announced on Tuesday it has formed a new partnership with fintech unicorn SoFi to provide financial products to small businesses during the COVID-19 pandemic. According to SpotOn, the collaboration will help small businesses by bypassing the… Read More

May 5, 2020 @ 7:56 am By Omar Faridi  |  

  Touch-free shopping and contactless payments are being increasingly adopted by consumers across the globe, in order to prevent the further spread of the deadly Coronavirus. Many consumers have been trying to avoid ATMs that require users to manually enter their PINs, according to a… Read More

May 5, 2020 @ 7:13 am By Omar Faridi  |  

The Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish multinational financial services company based in Madrid and Bilbao, Spain with around €700 billion in total assets, has teamed up with a local research center, called the IMDEA Software Institution. The BBVA noted in a release that it… Read More

May 4, 2020 @ 9:33 pm By Omar Faridi  |  

The Coronavirus (COVID-19) outbreak has made it quite difficult for the United States Congress to conduct meetings and deliberate. Lawmakers have offered suggestions regarding how to keep things going during the ongoing crisis. As mentioned in a Senate memo posted on April 30, 2020, blockchain-based… Read More

May 4, 2020 @ 8:25 pm By Omar Faridi  |  

Fintech firm GoBear, which offers a financial products comparison website, confirmed on May 4, 2020, that it has acquired AsiaKredit, a Singapore-based digital lender. The amount paid for the acquisition has not been shared publicly. GoBear’s acquisition has come after the Fintech company secured $80… Read More

May 4, 2020 @ 7:30 pm By Omar Faridi  |  

  Governments throughout the world have been asking people to stay at home, as the world struggles to cope with the highly contagious Coronavirus. Countries across the globe have enforced nationwide lockdowns in order to prevent the further spread of COVID-19. Many people are now… Read More

May 4, 2020 @ 4:50 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Monday its funding affiliate was approved as a lender for the SBA Paycheck Protection Program (PPP) established under the recently-enacted CARES Act. Biz2Credit reported that this makes it one of the few fintechs that has been approved by… Read More

May 4, 2020 @ 12:15 pm By JD Alois  |  

OurCrowd portfolio company Kryon has announced a solution in collaboration with the Information Systems and Digital Division at Clalit Health Services, the largest health service organization in Israel. Kryon’s solution automates a critical process of uploading COVID-19 test results. In Israel, each lab is performing… Read More

May 4, 2020 @ 11:01 am By JD Alois  |  

Payments platform Paysafe is out with some research on changes in the shopping ecosystem during the COVID-19 pandemic and it should come as no surprise their numbers indicate e-commerce is booming. Paysafe processes about $85 billion annually in 40 different currencies. Surveying over 8,000 consumers… Read More

May 4, 2020 @ 10:02 am By Omar Faridi  |  

As major financial institutions explore different strategies to cope with the COVID-19 crisis, a survey of UK financial services employees reveals that 66% think their company must do more to help them work productively from their homes. Large banks are currently trying to adapt to… Read More

May 4, 2020 @ 9:51 am By Samantha Hurst  |  

UK-based peer-to-peer lender RateSetter announced on Monday it is making changes to its provision fund as well as reducing interest rates. This course of action was caused by the COVID-19 pandemic. According to RateSetter, investors will receive only 50% of their interest with the other… Read More