Tagged: covid-19

April 27, 2020 @ 11:15 am By Samantha Hurst  |  

Fintech unicorn SoFi announced on Monday it has helped funnel more than $75 million in loan applications to lenders for the Paycheck Protection Program (PPP) established by the CARES Act, through its extensive network of lenders and Lantern, the product comparison site operated by SoFi…. Read More

April 27, 2020 @ 7:51 am By Omar Faridi  |  

  The Swiss Crypto Valley Association, a Fintech and blockchain-focused organization based in a region located near Zurich, is reportedly asking Switzerland’s government to provide CHF 100 million (appr. $102.7 million) in relief funding. This fund, if approved, would help with bailing out crypto and… Read More

April 26, 2020 @ 10:40 pm By Samantha Hurst  |  

Credibly, a small and medium-sized business lending platform, announced on Friday it has been named an Approved Lender for the Paycheck Protection Program (PPP). As previously reported the U.S. Senate passed $484 billion in new pandemic relief funds to provide additional funding to the PPP… Read More

April 26, 2020 @ 8:50 pm By Omar Faridi  |  

India-based Datacultr, a platform as a service provider that allows consumer lending firms to significantly reduce their risk on “new to credit”​ customers, confirmed that it will be enabling banks, non-banking financial companies (NBFCs), and other financial service providers to lend securely while reducing risk… Read More

April 26, 2020 @ 8:35 pm By Omar Faridi  |  

Michael Hoare, chief credit officer at UK-based RateSetter, a leading peer to peer (P2P) lender,  recently explained what impact the Coronavirus (COVID-19) pandemic could have on the lending market and what it might mean for credit risk. Hoare is tasked with overseeing the management of… Read More

April 26, 2020 @ 8:32 pm By Omar Faridi  |  

Adyen NV, a leading Fintech company that handles payments for large firms such as Uber Technologies and E-Bay, recently revealed that its business and revenue increased by more than a third (or 33%) during the first quarter of 2020. Adyen pointed out that it posted… Read More

April 26, 2020 @ 8:18 pm By Omar Faridi  |  

Ping An Insurance Group, China’s largest insurance and logistics conglomerate, has released its Q1 2020 financial results for the three months ending on March 31, 2020. Ping An’s management noted that they are coping with the Coronavirus (COVID-19) outbreak by adopting measures which include a… Read More

April 26, 2020 @ 7:01 pm By JD Alois  |  

  The British Business Bank has announced multiple new lenders added to the Coronavirus Business Interruption Loan Scheme (CBILS). Today, the British Business Bank has revealed the approval of the Allied Irish Bank (GB)/AIB (NI), ThinCats, Paragon Bank and IGF. These four lenders will join… Read More

April 26, 2020 @ 5:05 pm By Omar Faridi  |  

An increasing number of consumers are now staying indoors and working from their homes, due to the deadly and highly contagious Coronavirus (COVID-19) outbreak. There’s reportedly been a steady growth in digital wealth and online banking solutions and services are increasingly being used, even by… Read More

April 26, 2020 @ 2:37 pm By Omar Faridi  |  

The largest financial institutions in Canada have reportedly spent over $71 billion (appr. C$100 billion) on technology since the financial crisis, in order to accommodate an increasing number of customers who now prefer to use digital banking platforms. According to several reports, the Coronavirus (COVID-19)… Read More

April 26, 2020 @ 10:25 am By Omar Faridi  |  

N26 Inc., the US-based subsidiary of digital bank N26 GmbH, one of the fastest-growing mobile-based banks in Europe, has published its global and US-specific research report, which reveals the impact that the Coronavirus (COVID-19) pandemic has had on the neobank’s finances. The all-digital bank reportedly… Read More

April 26, 2020 @ 9:23 am By Omar Faridi  |  

San Francisco-based AppsFlyer, a software-as-a-service (SaaS) mobile marketing analytics and attribution platform, reports a 22% increase in in-app purchases during the past two weeks. This, as US residents have begun to rely even more on their mobile devices while being stuck at home due to… Read More

April 25, 2020 @ 8:00 pm By Omar Faridi  |  

Rajashekara Visweswara Maiya, vice president and head of business consulting, cloud and blockchain efforts at Finacle, the developer of a financial software system used by large banks across the globe (serving over 1 billion people), recently shared his views and insights with Crowdfund Insider. Finacle… Read More

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