Tagged: covid-19

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

April 13, 2020 @ 5:28 pm By JD Alois  |  

Earlier this month, Fundrise, a real estate investment platform using Reg A+ to provide access to “eREITs and eFunds”, has hit the pause button on redemptions to “maximize cash reserves and ensure the portfolio is in a position of strength.” The goal is to protect… Read More

April 13, 2020 @ 4:38 pm By JD Alois  |  

Prosper, a marketplace lending platform providing consumer credit as well as HELOCs, filed its most recent 10K late last month. At the time, the COVID-19 pandemic in the US was picking up pace. As is typical of these filings for all companies, Prosper included a… Read More

April 13, 2020 @ 4:10 pm By Omar Faridi  |  

The developers of Ontology (ONT), a “high-performance” public blockchain network that aims to provide a “distributed trust” platform, confirmed that the project’s team members recently attended the International Association for Trusted Blockchain Applications (INATBA) Virtual Roundtable, which was held on April 6, 2020. The event… Read More

April 13, 2020 @ 2:43 pm By Samantha Hurst  |  

Celsius Network, a cryptocurrency lending, and borrowing platform, announced on Monday it has reduced its minimum loan request to $1,000 during the COVID-19 pandemic. Celsius Network reported that it lowered its loan minimum in the wake of the effects that the virus has had on… Read More