Every single sphere of our lives is likely to feel the harsh impact of the coronavirus as it spreads across the globe. The quarantine, as well as the need for social distancing, have already drastically affected, among other stuff, our shopping habits and the way we pay.

The spread of the coronavirus means firms relying on paper-based ID checks need to switch to electronic processes now to avoid a freeze on their business, according to anti-money-laundering experts SmartSearch.

New restrictions on movement and the fear of contamination of documents have triggered a rush to adopt electronic verification (EV) as firms wake up to the effect of the virus. Relying on documents makes it impossible to comply with regulations, which means firms will not be able to serve clients or take on new business.

Today, adviser-led funding platform, Capitalise.com is announcing that it has launched a single point of access Coronavirus Business Interruption Loan Scheme (CBILS) application platform to make it easier for small businesses to apply for government-backed loans. Both businesses and their accountants will be able to compare, apply and access funds from the approved lenders on the government scheme to help reduce the financial consequences of Covid-19.

Temenos (SIX: TEMN), the banking software company, today announced a free digital learning initiative, opening access to the Temenos Learning Community Online, its cloud-based digital learning platform, to help its customers make best use of Temenos software as they respond to the challenges posed by the coronavirus pandemic.

SIX Group AG (“SIX”), the Swiss financial markets infrastructure operator, today received authorisation from the CNMV for its all-cash voluntary tender offer for Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. (“BME”), operator of the Spanish stock exchanges and cornerstone of the Spanish capital markets. The offer acceptance period will be 43 calendar days from the trading business day following the publication of the first announcement. During this period, shareholders may tender their shares to receive €33.40 per share, all in cash. 

Finantix, the leading global provider of trusted technology to the wealth management, insurance and banking industries, in collaboration with WealthBriefing, today published Defining - and Delivering - Personalised Client Engagement, part two in an ongoing series of research into the future of wealth management.

Countingup, the UK’s leading banking and accounting app for SMEs, is the first business current account in the world that has both journals and financial reports built-in.

A journal is a tool that allows accountants to make manual adjustments to the ledger. Thus, enabling accountants to capture the transactions that impact a business’ accounts which are not already captured by bills, invoices or banking transactions. Examples include depreciation, accruals and prepayments.