As a global fintech that operates in the UK, US, Australia and Poland, we're witnessing first-hand the effects that the global shutdown is having on personal lending around the world.

The COVID-19 crisis is having a severe impact on the consumer credit market in almost all of the territories in which we operate. In the UK and the US particularly, we're seeing two key themes play out since the outbreak of the virus; a significant reduction in the demand for personal loans combined with a contraction in the supply of credit across nearly all lenders.

Red Hat, Inc., the world's leading provider of open source solutions, today announced that it has named Paul Cormier as president and chief executive officer of Red Hat, effective today. Cormier, who previously served as Red Hat’s president of Products and Technologies, succeeds Jim Whitehurst, who is now president of IBM.

Curve, the banking platform that consolidates multiple cards and accounts into one smart card and app, has become one of the first companies in Europe to provision numberless cards.

Investors from Curve’s record breaking crowdfunding round will be amongst the first in Europe to benefit from the innovative technology when they receive their card in the coming weeks.

 Temenos (SIX: TEMN), the banking software company, today announced it has been recognized by Google Cloud as its Technology Partner of the Year in Financial Services. This prestigious award recognizes Temenos’ commitment to innovation in helping financial services organizations run mission-critical banking software and applications on Google Cloud, create profitable business models, and differentiate customer experiences.

Data 

Saga Monetary Technologies (Saga) today announced that its SGA token - the first global, stabilised, digital currency controlled by its holders - has been listed on Celsius Network, a cryptocurrency interest income platform.

Award-winning payments optimisation company Ixaris and Banking Circle are working together to deliver the travel industry's most comprehensive payments solution.

Connecting Banking circle Virtual iBan to ixaris’ payment products, the new solution is streamlining payments and tapping new revenue sources in ways previously thought impossible.

Eventus Systems, Inc., a multi-award winning global trade surveillance and risk management software platform provider, today announced that its Validus platform is now actively surveilling activity for clients on more than 100 exchanges and trading venues around the world. The global coverage spans a diverse range of asset classes, with 10 new markets – eight of them European – added in the first quarter alone.

Following the sustained growth of Phoebus Software Limited (PSL), the balances of loans and savings serviced on the Phoebus servicing platform have now increased to over £60 billion.

Leading enterprise connectivity platform Yapily has today announced that it has raised $13m in a Series A funding round. The fintech will use the investment to drive open banking adoption by organisations across Europe; providing a strong, secure and powerful connectivity layer that enriches customer experiences and creates financial opportunity.

The investment was led by Lakestar, an early investor in Skype, Spotify, Airbnb and Facebook as well as one of Europe’s biggest fintechs - Revolut. Existing investors HV Holtzbrinck Ventures and LocalGlobe also participated in the round.