Coronavirus

FriendlyScore writes

The Missing Link: How FriendlyScore’s open banking solutions can fill a major gap in the government’s COVID-19 business relief scheme

As the UK’s COVID-19 lockdown enters its second month, and with no clear end in sight, small businesses are bearing an increasingly high financial burden. The government has responded in the form of their £330bn Coronavirus Business Interruption Loan Scheme (CBILS), but to date only £2.8bn of this has actually been disbursed. With current estimates predicting that one-fifth of all UK SMEs will close or fail by the end of June, time is of the essence.

FinTech in the Time of COVID-19

With the global economy in a state of suspended animation due to the COVID-19 pandemic, financial services providers must pull out all the stops to ensure that individuals and small businesses suffering financial hardship are receiving appropriate support and assistance.