Following the coronavirus outbreak, consumers are ready to go cashless more than ever before. With many businesses discouraging the use of cash because of hygiene questions that surround handling money, contactless payments are front of mind to avoid touching pin pads.
 
But in an increasingly cashless ecosystem, there is a growing threat of card fraud from the lack of authentication. So we have reached the point where contactless payments need to be made more secure in order to ensure transactions are hygienic, convenient and free from the risk of fraud.
 

Today the British Business Bank has announced that it has approved two new lenders for accreditation to offer Covid-19 business loans to small businesses across the UK.

Tide will join the other 16 lenders who have been accredited to the Bounce Back Loan Scheme (BBLS), since the scheme opened last week.

Alternative finance lender Liberis has also been approved for accreditation by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), to offer term loans.

Tide Capital, the credit subsidiary of Tide, the UK’s leading business banking platform, has been accredited by the British Business Bank as a lender under the Bounce Back Loan Scheme (BBLS). This will allow the platform to offer term loans of between £2k and £50k to small businesses that are struggling financially as a result of the coronavirus crisis. As has been the case with other lenders accredited to deliver the BBLS, Tide is now working with the British Business Bank to operationalise the scheme and will begin delivering Bounce Back Loans early during the week commencing 18 May 2020.

Following an initial backlash in response to the Treasury’s distribution of its support package from the SME community, the government has since expanded its Coronavirus Business Interruption Loans Scheme (CBILS) and Bounce Back Loan Scheme (BBLS) to accredit more lenders to support British businesses. It’s great to see some alternative lenders too being given the opportunity to be part of the CBILS to help those businesses desperate for vital funding. However, the execution of these state schemes still excludes key players from the SME lending sector.

 IX Reach, a BSO company, leading global provider of cloud services, connectivity solutions and remote peering and KevlinX a technologically innovative provider of large scale, Tier III data centres in the key growth markets in Europe, announce a new and dynamic partnership. This partnership will enable KevlinX's wholesale, cloud and enterprise customers direct access to the full range of IX Reach's connectivity solutions.

A Brief Summary of FraudFree

In terms of technology adoption, it is widely acknowledged that the mortgage market lags behind the consumer credit sector. The COVID-19 pandemic in particular has highlighted the need for lenders to boost their automation capabilities to enable better digital services for customers, enhance their risk management capabilities and streamline their operations to aid recovery.

CoinDCX, India’s largest and safest cryptocurrency exchange and liquidity aggregator, announces B itGo, the leader in digital asset financial services, as its custodian. As the custodian of CoinDCX, BitGo will provide the secure storage and custodianship of cryptocurrencies held on CoinDCX, fully insured and protected by BitGo’s $100 million insurance policy. CoinDCX began transferring assets to BitGo’s wallets last week.