Tagged: covid-19

April 13, 2020 @ 11:36 am By JD Alois  |  

A report today indicates that checks to individuals as part of the Coronavirus relief program will start being deposited in bank accounts later this week. Economic Impact Payments According to Fox Business, a Senior Treasury Official says that between $50 million and $60 million will… Read More

April 13, 2020 @ 11:11 am By JD Alois  |  

Groundfloor, a real estate investment platform that is open to anyone, is launching a new program designed to keep capital flowing for property development flowing during the COVID-19 crisis. According to Groundfloor, the program expects to allow investors to earn an additional 4% interest rate… Read More

April 13, 2020 @ 9:22 am By JD Alois  |  

Governments around the world are scrambling to backstop halted economies impacted by the ongoing COVID-19 pandemic. Just weeks ago, the global economy was full speed ahead but today with lockdowns, social distancing and face mask requirements in place, businesses are closed and everyone is suffering…. Read More

April 13, 2020 @ 7:47 am By Omar Faridi  |  

The San Francisco Open Exchange (SFOX), an organization that aims to help traders and funds invest in digital assets at “the best price,” notes that its multi-factor market index, which was neutral a month back, has now been updated to “mildly bearish” as of April… Read More

April 13, 2020 @ 7:46 am By Samantha Hurst  |  

Customers Bank (NYSE:CUBI) announced on Friday it has increased its Paycheck Protection Program commitment to $500 million by using digital banking OakNorth to help support American small and medium-sized businesses during the coronavirus (COVID-19) pandemic.  As previously reported, the Paycheck Protection Program is part of… Read More

April 13, 2020 @ 1:37 am By Omar Faridi  |  

Digital bank Revolut allows its 7 million customers to purchase cryptocurrencies. This, as reserve banks across the globe have announced huge stimulus packages to support their struggling economies, following the deadly Coronavirus (COVID-19) outbreak. This support from Revolut, which is notably one of Europe’s most… Read More

April 12, 2020 @ 6:49 pm By Omar Faridi  |  

Fintech firms Intuit and PayPal have been approved by the Small Business Administration (SBA) to distribute funds, which are part of the US organization’s emergency lending and relief program. The funds are being given to businesses in order to help them sustain their operations, following… Read More

April 12, 2020 @ 5:16 pm By Xu Gao  |  

Chinese Banks Seek Technology Talents for Digital Transformation The outbreak of the COVID-19 has accelerated the digitalization process of the financial industry. In order to respond better to future challenges, banks in China are seeking more technology talents. For example, Postal Savings Bank of China… Read More

April 12, 2020 @ 10:59 am By Omar Faridi  |  

California-headquartered Wellpay, a Fintech service provider for the healthcare sector, recently revealed that it will be accelerating its planned public launch, in order to help individuals who may be burdened by huge medical bills due to the health and financial crisis created by COVID-19. The… Read More

April 12, 2020 @ 10:29 am By Omar Faridi  |  

Finanteq, a software and consulting firm that specializes in digital banking solutions, recently launched a new program for banks. Andrzej Sierpiński, managing director at Finanteq, stated: “The number of [physical] bank branches has been decreasing for years. But as a result of the COVID-19 crisis,… Read More

April 11, 2020 @ 1:10 pm By Omar Faridi  |  

The US Internal Revenue Service (IRS) confirmed on April 10, 2020 that it would be providing a tool for eligible American citizens and residents who don’t normally submit tax return documents, so that they can get access to government Coronavirus (COVID-19)-related stimulus funds. Soon after… Read More

April 11, 2020 @ 1:07 pm By JD Alois  |  

Digital Bank Current says it has received the first government stimulus payments five days faster than anticipated. Current told Crowdfund Insider: “Current started receiving government stimulus payments today for individuals and families and we are crediting all transactions to all our members immediately. We’re delivering… Read More

April 10, 2020 @ 7:01 pm By JD Alois  |  

The British Business Bank has announced new lenders participating in the Coronavirus Business Interruption Loan Scheme (CBILS) including several digital banks. Established in 2014, the British Business Bank is the UK government’s economic development bank. The Bank’s mission is to make finance markets for smaller… Read More

April 10, 2020 @ 4:40 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Friday its Biz2X platform is now being offered free of charge to banks and credit unions with assets under $10 billion that are offering CARES Act Paycheck Protection Program (PPP) loans. As previously reported, the Biz2X platform enables… Read More

April 10, 2020 @ 10:27 am By Omar Faridi  |  

Companies and institutions that may have applied for a digital banking license in Singapore will now have to wait longer in order to find out if their application was approved. The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has confirmed… Read More

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

Funding Circle (LSE:FCH), an SME lender that facilitates loans in both the US and parts of Europe, has decided to pause its secondary market due to the COVID-19 pandemic, according to a blog post. Funding Circle has recently taken multiple actions to buttress the platform… Read More

April 10, 2020 @ 7:52 am By Omar Faridi  |  

Fintech firm Razer, an established global lifestyle brand for gamers, has announced that it will be supporting its business partners, following the Coronavirus (COVID-19) outbreak and resulting economic challenges. Razer has reportedly committed to allocating up to $50 million this year. The funds will be… Read More

April 9, 2020 @ 7:24 pm By Omar Faridi  |  

MuchBetter, the developer of a payments app, has teamed up with Switzerland-based firm  Winwatch, in order to launch an analog watch that allows users to conduct contactless payments. The payments are processed with the help of a face made of “smart glass.” The watch uses… Read More

April 9, 2020 @ 4:52 pm By JD Alois  |  

LendingClub (NYSE:LC) has filed a new form with the Securities and Exchange Commission (SEC). The Form “FWP” states that LendingClub has suspended the facilitation of new D Grade loans as of April 10, 2020, due to the COVID-19 pandemic. Recently, LendingClub has taken measures to… Read More

April 9, 2020 @ 4:00 pm By JD Alois  |  

Yesterday (April 8, 2020), the US Department of Homeland Security issued an alert – warning consumers about COVID-19 related scams. The joint statement actually included the Infrastructure Security Agency (CISA) and the United Kingdom’s National Cyber Security Centre (NCSC) due to the depth of the… Read More