Our day by day wrap-up of in a single day coronavirus-related information for Thursday 19 March 2020.
Picture supply: Picture by cottonbro from Pexels.
Fintech Watch is our day by day wrap-up of in a single day coronavirus-related information on this planet of fintech and finance.
Right here’s what you may need missed in a single day:
Digital banks are publishing Covid-19 assist. Within the final day or so Monzo, Starling, Tide and Revolut have put steerage on their web sites for patrons affected by Covid-19.
“We’re maintaining a tally of the variety of questions you are asking us about coronavirus, so we are able to be sure now we have sufficient employees in the precise areas that will help you,” wrote Monzo’s vulnerability supervisor Natalie Ledward.
“Over the following few days and weeks we’ll publish recommendation on tips on how to assist keep protected from fraudsters who’re utilizing the coronavirus outbreak to rip-off folks,” added Starling in its recommendation, noting an increase within the variety of scams its clients are reporting.
Tide’s CEO Oliver Prill stated the fintech was following all of the information on authorities grants, help and loans to companies, and wrote: “We’re in contact with the authorities and as quickly as we all know the small print, we’ll publish details about how one can entry this assist.”
Canadian banks are closing branches. In line with Finextra Canadian banks have began shutting bodily branches in response to Covid-19.
“The banks – Financial institution of Montreal, CIBC, Nationwide Financial institution of Canada, RBC, Scotiabank and TD – are encouraging clients to make use of different channels, together with on-line and cellular banking, ATMs and cellphone banking,” writes Finextra.
Whereas we haven’t seen UK financial institution branches shutting but, it’s definitely one thing to look out for over the approaching days.
Buyers rush to get peer-to-peer money again. Each The Instances and The Telegraph are reporting that buyers are seeing ever-longer waits to withdraw money from market lending platforms.
AltFi first reported final week that Assetz Capital had launched a queuing system to sluggish the speed of withdrawals on its platform.
Now RateSetter, Progress Avenue and Zopa are reportedly among the many platforms the place buyers are dealing with delays as extra of those programs are launched.
That’s all for right now people…