Tagged: coronavirus

Silicon Valley Fintech Unicorn Brex’s Co-Founder Says Startup Space Is Booming Again in Post COVID Environment

Henrique Dubugras, Co-Founder at Brex, a Silicon Valley-based Fintech Unicorn, recently noted that companies were forced to cut many jobs and were also more focused on retaining customers following the COVID-19 outbreak earlier this year. Dubugras now claims that the startup space is booming once… Read More

Kazakhstan based Fintech Kaspi.kz Says its Business Is Performing Well After London Stock Exchange Listing

Most of the staff members at Kazakhstan-based Fintech firm Kaspi.kz (LSE:KSPI) have been working from their homes due to the COVID-19 outbreak. The company claims its business has been doing well despite the challenges created by the Coronavirus crisis. Kaspi provides payment systems and digital… Read More

Lloyds Bank to Shut Down 56 Branches, Cut 160 Jobs As Consumers Increasingly Using Digital Banking Services Following COVID-19 Outbreak

Lloyds Bank, a British retail and commercial bank with branches across England and Wales with around £436 billion in assets, is reportedly planning to shut down 56 physical branch locations. The Lloyds Banking Group confirmed that it had been planning to close some of its… Read More

Indian Fintech U GRO Capital, an Online Lending Platform for SMEs, Reports Over $2 Million in Net Profit for Current FY

Indian Fintech U GRO Capital, an online lending platform for SMEs, has released its Q2 FY21 financial results and posted a (profit after tax) PAT of INR 17.2 Crores (appr. $2.28 million). The BSE (formerly called Bombay Stock Exchange) stock exchange-listed, technology-focused platform noted that… Read More

Banco Santander Is Reportedly Planning to Shut Down Up to 1,000 Branches, May Cut 4,000 Jobs

Banco Santander S.A. (Santander Group) (BME:SAN), the world’s 16th-largest banking institution and financial services company based in Madrid, has been focused on cost-cutting measures in order to deal with the economic challenges created by the COVID-19 pandemic. Banco Santander along with other Spanish lenders are… Read More

Robocash Claims P2P Lending Market Is an Attractive Investment Diversification Option, but Sector has Struggled due to COVID

Robo.cash, a peer to peer (P2P) lending marketplace, recently discussed which investments may be “advantageous” during the COVID-19 pandemic. The P2P lender noted in a blog post that COVID, which began spreading in Europe in March and April 2020, led to “unrest” among P2P investors…. Read More

Checkout.com Data Reveals Digital Payments in MENA Region and Pakistan have Nearly Doubled after COVID

A report released earlier this week by Checkout.com reveals that digital commerce and online payments are on track for major growth next year. Internal Checkout.com data indicates that digital payment transfers have almost doubled in the MENA region since the beginning of the COVID-19 outbreak…. Read More

Prashant Fuloria: CEO at Fundbox Explains how Fintech Platforms Can Leverage Machine Learning to “Democratize” Access to Funding

  We recently connected with Prashant Fuloria, CEO at Fundbox,  an AI-driven credit platform for B2B commerce. Fundbox focuses on “disrupting” the $21 trillion B2B commerce market by developing the first B2B payment and credit network. Sellers (of all sizes) are able to use Fundbox’s… Read More

DV01 Report: Online Consumer Lending Continues to Head Towards Normalcy

A new report from online lending data provider DV01 indicates that this sector of Fintech continues to move towards “normalcy” following the advent of COVID-19 and the ensuing economic disruptions. The report says online lending is displaying “resiliency” as origination volumes are now only 34%… Read More

Latino Owned Businesses Not Sufficiently Supported by PPP, Second Stimulus is Needed : Camino Financial

Camino Financial, a Fintech platform providing affordable credit and financial products for US Latino businesses, recently published a report on Latino-owned Businesses (LOBs) covering Q3 as well as insight into the impact of COVID-19 on these businesses. The US Latino Small Business Survey offers insights… Read More

ATM Withdrawals and Check Payments in the Philippines have Declined as Digital Transactions Rise Significantly following COVID-19 Outbreak

The COVID-19 pandemic has accelerated the shift towards all-digital platforms which includes the increased usage of digital financial services by consumers in the Philippines (and globally). Laura Ignacio, Director at the Center for Monetary and Financial Policy of the Bangko Sentral ng Pilipinas (BSP), confirmed… Read More

Singapore’s Financial Services Sector Is on the Brink of Disruption following COVID-19 Outbreak, According to Fintech Industry Professional

There are many new opportunities for the Fintech sector in a post COVID world, according to Singapore’s labor chief Ng Chee Meng. He noted that the Coronavirus crisis may lead to new requirements and could also create new jobs. Meng, who’s currently the Secretary-General at… Read More

As COVID Cases Increase, UK Government Extends COVID Lending Schemes

As of Thursday, November 5, in a somewhat controversial move, the UK government will shutter a good portion of the country as COVID-19 cases rise. In a release by the UK government, the new restrictions will remain in place until at least December 2nd. The… Read More

Bill Scannell from Dell Technologies Explains how Big Tech Firm Is Helping Businesses Shift to Remote Working Environment

Bill Scannell, President, Global Sales & Customer Operations, Dell Technologies (NYSE:DELL), explains how companies across the globe are adjusting to working in the “new normal” environment following the COVID-19 outbreak. He writes in a blog post that Brazil-based retailer Grupo Boticario had to address a… Read More

Cambridge Centre for Alternative Finance and World Bank – Study COVID Crisis and Impact on Fintech Regulation

The Cambridge Centre for Alternative Finance (CCAF), the leading research institute covering the global Fintech sector, has partnered with the World Bank on a study reviewing the impact of COVID-19 on Fintech and regulation. As finance is one of the most regulated sectors of industry… Read More

VC Funding for Fintechs Is Down, but Large Banks are “Quietly” Investing in Financial Tech Startups: Report

Venture capital funding for Fintech firms is down, however, large banks are “quietly” investing in startups, according to a report published by S&P Global Market Intelligence. VC funding available for Fintech companies may have declined due to the COVID-19 pandemic, however, established European banks are… Read More

Fintech Firms are Now a “Critical Constituent” of Indian Financial Services Sector: Report

India is now home to more than 2,000 Fintech companies and has become one of the world’s largest financial technology markets (after the US, China and UK), according to a report from McKinsey & Company that was released earlier this month. The report notes that… Read More

Financial Services Professionals Say Lending Sector to Take A Year or Longer to Recover to Pre-COVID Levels: Survey

The COVID-19 pandemic has accelerated the shift to digital with financial services, according to a recent report from TransUnion (NYSE:TRU), a financial services data platform and credit report provider. The report notes that the Coronavirus outbreak sent “shockwaves” through the financial services sector and has… Read More

Acquisition Demand for Software as a Service (SaaS) Firms has Become “Even Stronger” following COVID, According to Industry Exec

Michael Walkinshaw from TIMIA Capital notes that the acquisition demand for software-as-a-service (SaaS) companies has become even stronger in a post COVID world. He states that there has been a noticeable increase in SaaS growth equity funding and M&A activity during the past few months…. Read More

More than Half of European SMEs May Shut Down Permanently in Next 12 Months Due to Challenges Created by COVID: Report

The COVID-19 pandemic has negatively impacted the operations of small businesses across the globe. European SMEs are the lifeblood of the region’s economy and a recent report claims that nearly half of these companies might shut down within the next 12 months. According to research… Read More

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