Fintech

It’s a rare occurrence for a business to receive a huge business spike while also shutting parts of the operation, but that’s where the coronavirus has landed Farmstead.

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

Lenders are concerned that the coronavirus outbreak will increase vacancies and add to credit risk.

RTP Global and HV Holtzbrinck Ventures led an €18.5 million ($20.3) Series B round in Penta, a Berlin-based small business bank.

Nebraska bankers sued after MembersOwn Credit Union successfully added eight counties to its field of membership last year.

TransferWise has partnered with Alipay to expand money remittance options for its users to instantly send Chinese yuan to friends and family in China.

In a scenario where employees regularly and accurately track and report their business expenses, this continuously updated data helps businesses make intelligent decisions quickly, says Fyle's Yash Madhusudan.

Governments are directly advancing real-time digital payments — a welcome move for Ripple, which is applying its relationship with MoneyGram and a growing base of eager partners to expand its network.

The transaction, which involves the sale of three branches, is expected to close in June and is pending regulatory.

The nationwide lockdown in Italy has necessitated changes for Pellegrino personally, and for his business. The two worlds often intersect.