Coronavirus - how the Fintech industry is working together - Currencycloud

Coronavirus has already had a massive impact on our economy and many businesses around the world. Despite all of this, it is great to see how collaborative businesses are being, and how they are working together to mitigate the impact of coronavirus. 

One of our values at Currencycloud is #bettertogether and during these difficult times  we are seeing the government, business and banks all working together to keep our economy going and press on with business as usual as much as we all can! 

Within the last week or so governments around the world have announced stimulus packages – what do these actually mean for businesses?

• The UK announced a £350 billion combination of loans and grants for businesses, to keep people employed, help businesses gain access to cash to pay their rent and provide business rate holidays. Tech Nation has a really useful Coronavirus Information Hub that details a lot of what is available to businesses to support them through this tough period.
• The US government passed a $2 trillion coronavirus aid bill to help small businesses pay employees.
• Many of the EU countries have announced various packages to grant small businesses loans to keep functioning during this period. 

Many of our Fintech counterparts are providing the same level of service to their customers and to the wider society. Some of those #bettertogether moments: 

• Revolut has partnered with Trussell Trust foodbank allowing customers to make donations directly through their Revolut banking app.
• CovidCredit was created – a proof of concept with the Fintech community coming together to allow the self-employed to prove they have lost income and their last 12 months of income. 
• Seedrs is offering a variety of options such as fast tracking fundraising campaigns and extending campaigns lengths.
• Starling Bank is offering overdraft interest holidays to personal account holders struggling financially. 

It is great to see Fintechs coming together to better serve the community and society during this period. Currencycloud is continuing business as usual to keep providing for our customers. Although our employees are working from home, we are delivering the same level of support and service for our customers, and trying to bring as many smiles to our customers’ faces as we can! 

We will continue to serve our customers, whilst keeping our employees safe and doing as much as we can for both our customers and communities. Want to see what some Currencyclouders have been up to working from home?

Peter Daunton, Senior Product owner,  shares the visitor he had on a call earlier – just popped up to say hello.

We have had some other additions to the team also: 

We have a new joiner in the Customer Operations team with Connor…

And a new developer joining Adam in our Tech Team..