The global payment industry has gone through a massive change over the past decade, with more and more people utilizing the benefits of innovative financial technologies. The global shift towards a cashless society produced a massive space for mobile wallets as a new, safer, and more convenient way of making payments. With the coronavirus outbreak, electronic payments became even more appealing as people started questioning the safety of using banknotes for fear of transmitting the virus.

Leading paytech, cloud based payment processor Paymentology, has achieved certification in record time from Jetco, the consortium of thirty leading banks in Hong Kong and Macau, which owns the 3,000 ATMs across the region, to support the launch of a new digital bank in Hong Kong.

Today the British Business Bank has announced that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS) - The Co-operative Bank, Cynergy Bank, OakNorth Bank and Starling Bank.

Following their approval, each lender will be putting in place the operations required to start lending under the scheme and will confirm shortly the dates from which they will be ready to start receiving CBILS applications from smaller businesses across the UK.

COVID-19, the current global crisis is affecting individuals and businesses equally. Isolation and selective lockdown of the economy are helping in containing the pandemic, but it is leaving a lasting impact on businesses. Most of the businesses moved to abrupt remote work without prior planning, which is affecting their sales, employee retention, production, and marketing. Once this pandemic subsides businesses will face a plethora of changes.

SoFi, the online personal finance company, announced it has signed a definitive agreement to acquire Galileo Financial Technologies (“Galileo”), the powerful financial services API and payments platform.

QuantaVerse, the only company to offer an end-to-end financial crime platform that uses AI and machine learning to automate the majority of the AML investigation process, has announced new enhancements to its AI Financial Crime Platform.

 CryptoCompare is pleased to announce that the MVIS CryptoCompare Institutional Bitcoin Index has been licensed to 3iQ Corp for The Bitcoin Fund (Ticker: QBTC.u on the Toronto Stock Exchange). The exchange listing will take place on Thursday, April 9th.

The MVIS CryptoCompare Institutional Bitcoin Index is a rules-based index, intended to give investors a means of tracking the performance of Bitcoin on selected top tier exchanges. These exchanges include Binance, Bitflyer, Bitstamp, Coinbase, Gemini, itBit and Kraken.